EssilorLuxottica declared an end to a damaging feud between its French and Itali...
PARIS - EssilorLuxottica declared an end to a damaging feud between its French and Italian partners on Monday, saying it would focus on finding a new chief executive and integrating the eyewear group formed by a 54 billion euro merger.
EssilorLuxottica resulted from the 2018 merger of French lenses maker Essilor and Italian peer Luxottica. They were supposed to have equal weighting in the combined company’s leadership, but accused each other of trying to dominate. EssilorLuxottica is due to hold its annual shareholder meeting on Thursday, where minority investors have been expected to voice their frustration over the leadership row.
This was echoed by Del Vecchio’s French counterpart Hubert Sagnieres, who is vice-chairman of EssilorLuxottica and said it would leave the company well placed to accelerate its growth.
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