PARIS (March 23)—Groupe Michelin wants to make it easier for its employees to own stock in the company, and to that end the company will ask shareholders at its May 18 annual meeting to approve an increase in the company´s capital to fund new stock option programs. "Our wish is that each member of our personnel be always more closely associated with the life of the Groupe, with its development and be fully conversant with its economic position," said Chairman Edouard Michelin in a prepared statement. Michelin said the new program is meant to supplement the firm´s benefits programs, and to provide a system of allocating supplementary bonuses indexed to the share price.
Michelin encouraging ESOP
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