The European Le Mans Series (ELMS) is a European endurance motor racing championship organised by the umbrella organisation Le Mans Endurance Management and administered by the Automobile Club de l'Ouest (ACO) automobile club. Michel Cosson, the ACO president, launched the Le Mans Endurance Series (LMES) in 2004 following the success of the American Le Mans Series at applying ACO rules in the United States. It was renamed the Le Mans Series (LMS) in 2006 and became the ELMS in 2012. It is regarded as a stepping stone for competitors aspiring to the ACO's highest endurance series, the FIA World Endurance Championship. The ACO awards European championships and trophies to the most successful drivers and teams in each of the series' categories over the course of a season. Points are awarded for individual race results as well as taking pole position, with the highest tally of points winning the respective championship or trophy. At the conclusion of the season, four champions and one runner-up receive an automatic invitation to the 24 Hours of Le Mans. The champions are not formally crowned until the ELMS awards ceremony after the season's final race.