Nokian Tyres has appointed Paolo Pompei as its new President and CEO. He will take over from Jukka Moisio on 1st January 2025, when Moisio retires from the company.

“I want to welcome Paolo Pompei to Nokian Tyres to lead it in its next phase of development toward EUR 2 billion net sales. He has delivered continuous growth and strong financial performance in his earlier positions. He also has a very strong international experience from the tyre industry and a deep understanding of the markets in Central Europe and North America, which are the key growth markets for Nokian Tyres,” says Jukka Hienonen, Chair of Nokian Tyres’ Board of Directors.

“On behalf of the entire Board, I would like to thank Jukka Moisio for his excellent work at Nokian Tyres. Jukka has guided Nokian Tyres through exceptional times, during COVID-19 and through the consequences of the war in Ukraine, developing Nokian Tyres toward new growth,” continues Jukka Hienonen.

Wee Kok Wah, aged 78, Founder & Senior Advisor of Stamford Tyres Group passed away on 21 October 2024.

He was instrumental in propelling Stamford Tyres Group to achieve growth and overseas expansion, as its Managing Director and President since the 1970s. Wah went on to steer the company to a public listing in 1991, and steadily expanded its business into a global international player in the distribution and retailing of tyres and wheels, and the manufacturing of wheels.

The Stamford Group’s veteran was highly-regarded in the tyre industry and the business world for his passion and in-depth knowledge of the tyre business gained him international recognition.

Wah stepped down from the Board of Stamford Tyres Corporation on 1 November 2021 as its Managing Director but stayed on as the Founder and Senior Advisor, providing invaluable guidance and counsel to the Board as well as to the senior management team.

On behalf of all staff of the Group, the Board expresses its deepest sorrow over the death of Wah and conveys its condolences to his family. The Board also expresses its heartfelt gratitude for Wah’s immense contributions to the Stamford Tyres Group and his dedicated service and unwavering commitment which has made a significant difference to the Group on the charting of its strategic directions and business.

Continental Tire the Americas has appointed Ashok Vedanayagam as the new Head of Marketing for its passenger and truck tyre business in the Americas.

Vedanayagam will oversee various marketing functions, including product management, communications, public relations, e-business, market intelligence, pricing and strategic planning.

With Vedanayagam’s appointment, Continental aims to strengthen its leadership position in the Americas and better align its marketing strategies with its customers’ evolving needs.

Vedanayagam brings over two decades of experience in the automotive and tyre industries. He joined Continental in 2014 and has held various executive roles, most recently as Key Account Manager for Truck OEMs in the Americas. Prior to that, he led the Marketing function for the company’scompany’s Asia Pacific region.

“We are excited to have Ashok take on this pivotal role,” said Dr Jochen Etzel, Continental Tire the Americas CEO. “With his broad international experience and strong understanding of the industry, he will play a key role in enhancing the value we provide in the region. His ability to align our strategies with the evolving needs of our customers will further help us strengthen our leadership position in the Americas.”

Michelin, a leading tyre manufacturer has announced the winners of the Michelin AI Challenge, which it states is the first AI challenge in the sector.

The initiative was launched in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT), and Startup India, with an aim to foster innovation and entrepreneurship in the Indian AI startup ecosystem while exposing them to global best practices.

The award ceremony took place at IIT Delhi, with the presence of special guests Petros Sourmelis, Minister-Counsellor, Delegation of EU to India and Bhutan; Marie Khater, Deputy Head of the Regional Economic Department for India and South Asia, Embassy of France; Dr. Ambica Rajagopal, Michelin Group's Chief Data and AI Officer, and Shantanu Deshpande, MD, Michelin India.

From the 10 startups presenting their ideas Kogo.ai, Prophecy, and Zangoh.ai were recognised for their innovative contributions, learning opportunities to co-build on strategic projects and receive mentorship. 

The startups were evaluated by a team of Michelin’s AI data scientists, business leaders, product managers and developers. A Memorandum of Understanding (MoU) has already been signed between Michelin and DPIIT, aimed at fostering sustained innovation and entrepreneurship, while creating an enabling environment for startups to thrive.

Dr. Ambica Rajagopal said " The Michelin AI Startup Challenge is designed to identify and support innovative startups to build solutions using AI agents, LLMs, computer vision, and robotics to enhance manufacturing, product quality, road and pedestrian safety, and how to use AI in a responsible, explainable and ethical way. By leveraging LLMs and generative AI, we are not just automating workflows but enabling intelligent agents to discover optimal paths of action through complex choices. These AI systems are now able to generate insights from distributed knowledge, linking structured and unstructured data to build deeper models of customer behaviour. The potential to unlock creativity and innovation has never been greater.”

Shantanu Deshpande said, “At Michelin, our commitment to India is reflected in our decision to establish our AI headquarters in Pune and in our continued partnership with the government through initiatives like the MoU signed with DPIIT. We believe in the power of collaboration, where our global expertise and mentorship, combined with the government's scale and vision, create a win-win scenario. We sincerely extend our gratitude to DPIIT for their invaluable support in making this challenge a success."

Petros Sourmelis stated, “The AI Challenge is a novel initiative of Michelin that aims to expand Data and AI capabilities and bring innovation to the forefront. That it has received more than 200 applications from startups across the country speaks volumes about the interest this program and its themes have generated. I hope this will give a huge spur to industry linked innovation and entrepreneurship in the country.”

Marie Khater said; “The work and activities engaged by Michelin in India embodies the profound and concrete partnership that our two countries have on digital technologies. Not only is Michelin an industrial group, one of the leaders in tyre manufacturing but the company is deeply engaged in innovation and R&D, particularly in the digital space. I am really looking forward to seeing how we can build on existing initiatives from French and Indian companies like this one to find synergies and strengthen our bilateral ties on innovation, notably in the perspective of the Indo-French year of innovation in 2026.”

The Michelin AI Challenge, was a 12-week-long initiative and undertaken in multiple stages which included, outreach, applications, shortlisting and mentorship until September 2024, followed by the grand finale featuring the shortlisted startups.

The challenge saw over 106 startups applying from all over the country; around 60 percent startups from tier 1 cities and tier 2 cities applied, showcasing diverse and innovative AI solutions.

The top ten AI innovators from the AI Startup Challenge presented their projects at the demo day at IIT Delhi. The three winning teams were awarded paid pilot projects from Michelin, with funding of up to INR 500,000 each. Furthermore, these winners will gain access to global contracts and incubation support from Michelin leadership.

DPIIT has been proactively working towards mobilising startups in the manufacturing space, and to provide them with early-stage support necessary for their growth. It is building an initiative to bridge the gap between industry and startups, by supporting with setting-up of incubators and incubation programs led by the industry. The initiative aims to empower manufacturing startups with innovative technologies and sustainable practices, enabling them to become leaders in the global market through incubation supported by the industry.

Linglong Tire has been recognised as one of Asia's top 500 brands in the 2024 "Asia's Top 500 Brands" annual report published by World Brand Lab. The company was selected for its outstanding performance and commitment to sustainable brand building.

The "Asia's Top 500 Brands" list evaluates brands based on market share, brand loyalty, Asian leadership, and other factors. The 2024 summit focused on the importance of sustainable brand building for companies competing in the global market.

Linglong Tire has been a leader in sustainable development for years, investing in technological innovation and social responsibility. The company has developed eco-friendly, high-performance tyre products that meet the quality and environmental standards demand. Linglong's commitment to employee well-being and corporate social responsibility has also been recognised.