reuters.com

EssilorLuxottica board backs CEO Milleri after criticism from Del Vecchio heir

EssilorLuxottica logoEssilorLuxottica
Sig2.43Sen-1.38Env0.00Soc0.00Gov-2.18

Leonardo Maria Del Vecchio, 31, said he hopes for a change in EssilorLuxottica’s strategy after the company lost more than half of its market value, calling for plans to be shared more broadly with investors. With a 12.5% stake via Delfin’s control of 32.4%, he pointed to tensions with CEO Milleri, noting that Delfin board mandates have no fixed term, making reforms difficult without unanimous shareholder support.

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