Luxottica founder agrees to end governance dispute at EssilorLuxottica

Posted by

Luxottica founder Leonardo Del Vecchio and Essilor’s CEO Hubert Sagnières have reached an agreement to grant more power to their lieutenants. This ends a governance dispute over the appointment of a new group CEO. The accord gives the current CEO's of Essilor and Luxottica to integrate the operations of the two companies. A new group CEO is expected to be appointed by the end of 2020.

 

The Financial Times, David Keohane and Rachel Sanderson, May 13th 2019