[Global CEO Talk] “Beyond Tires: Insights into the Automotive Division of Michelin with Antoine Leprince”

On March 22, Korea University Business School extended a warm invitation to Antoine Leprince, the EVP of Michelin Korea's Original Equipment Automotive Division, for an engaging and insightful session. As students eager to learn from industry leaders, we were thrilled to gain firsthand knowledge from Antoine's extensive experience in the automotive industry.

Antoine began by introducing himself, sharing that he's a French national who's been with Michelin since the start of his career. His passion for travel has taken him across the globe, including stints in India, Pakistan, various European countries, the Middle East, and finally landing in Korea in 2021.

With his father's influence from the automotive industry, Antoine's career path was clear from an early age. His ambition was to learn from the best and contribute to his country's pride by representing the French flag. Michelin stood out to him as the ideal choice due to its rich history, family-centric values, tire specialization, and unwavering commitment to innovation.

Antoine shared anecdotes from his extensive travels, emphasizing the varying levels of risk and challenges associated with emerging markets. He highlighted the importance of understanding local nuances, building relationships, and adapting strategies to suit diverse environments.

Antoine provided a comprehensive overview of Michelin's approach to the 4Ps of marketing - Product, Pricing, Promotion, and Placement. He emphasized the significance of understanding each element in the context of emerging markets, where diverse customer needs and market dynamics pose unique challenges.

 From Michelin's global distribution network to specialized service centers, Antoine brought into focus the company's strategic initiatives aimed at catering to the evolving demands of a global clientele. Michelin is deeply committed to providing a pathway to progress for all, underpinned by a shared culture of respect for facts, individuals, customers, and the environment. The company places a strong emphasis on engaging its employees and diligently tracks their progress and satisfaction globally.

 With a robust operating income of 11.2 BN euros, Michelin has made substantial investments in research and development. Despite its French origins, Michelin boasts a truly global presence, with sales, distribution, and R&D operations spanning the globe, particularly in Asia, where it is a significant driver of growth with approximately 19,000 employees. While traditionally focused on automotive tires, Michelin has diversified its activities into three main fields, recognizing the evolving needs of the market.

The discussion then turned to the origin of the Michelin Guide, which traces back to 1900. In a strategic move to boost the demand for cars and, consequently, car tires, the Michelin brothers, manufacturers of car tires, introduced a comprehensive guide for French motorists - the Michelin Guide. Distributed free of charge, this guide served as a valuable resource for motorists, offering detailed maps, tire repair and replacement instructions, listings of car mechanics, hotels, and petrol stations across France.

Antoine underscored the importance of product quality, likening tire manufacturing to a culinary endeavor involving over 200 materials. He emphasized the significance of creating the right product for the right usage and highlighted the importance of market analysis and segmentation in catering to diverse customer needs.

Sharing insights from his experiences, Antoine emphasized the value of seeking facts, understanding the 'why,' embracing uncertainty, and fostering respect for all stakeholders. He highlighted the importance of diversity and collaboration in driving innovation and success. Reflecting on Michelin's core values of respect and commitment to excellence, Antoine discussed the company's focus on employee engagement and investment in research and development.

 He highlighted Michelin's global footprint and its evolution beyond tires into diverse fields of activity like medical and agriculture. Antoine concluded the session by offering personal advice to students, urging them to explore their talents, remain curious, pursue their passions, and prioritize care for others.