Michelin Managing Partner To Step Down

One of Michelin's three managing partners is set to leave the French tire maker as part of a shake-up under incoming Chief Executive Jean-Dominique Senard, newspaper Le Monde reported on its website.

The departure of Didier Miraton, whose five-year term was due to run out in 2012, is expected to be announced on Tuesday, the report said without citing sources.

The 53-year-old Michelin veteran of almost 30 years is being swept aside as Senard seeks to revitalize the group's research and development strategy and compete better against rivals like Japan's Bridgestone, the report said.

A Michelin spokeswoman declined to comment on the report.

The nomination of Senard to succeed Michel Rollier as CEO was approved last month. The new chief will take over from Rollier on the latter's so-far unspecified retirement date.