Luxottica founder Del Vecchio plans to increase stake in Mediobanca

Posted by

Leonardo Del Vecchio, founder of eyewear giant Luxottica, is set to increase his stake in Mediobanca to above 10% with the aim of pursuing a change in strategy. Del Vecchio plans to push the bank to expand its investment banking business and rely less on its consumer finance business. The three-year mandate of Mediobanca’s current board is set to expire in October next year.

The Financial Times, Rachel Sanderson, October 10th 2019