Michelin remains strong after sudden death of CEO.(News)(chief executive officer, Edouard Michelin, Compagnie Generale des Etablissement Michelin)(Brief article)

Byline: Sylviane de Saint-Seine

Michelin generated a 22.98 percent gain in value during the third quarter, proving that investors remained confident about the company's future following the accidental death of CEO Edouard Michelin May 26.

Michelin was 42.

Edouard Michelin's successor as chief executive, Michel Rollier, has reaffirmed the French tire maker's objectives. By 2010, the supplier wants to achieve an operating margin of 10 percent or more and a reduction in inventory levels to 16 percent of sales from 20 percent in 2005.

The company's operating margin was 8.8 ...