Connect with us

Press Releases

EssilorLuxottica Announces Organizational Changes and Interim Dividend 2020

Executive powers granted until the 2021 annual general meeting to Francesco Milleri and Paul du Saillant.

mm

Published

on

(PRESS RELEASE) CHARENTON-LE-PONT, FR — The Board of Directors of EssilorLuxottica on December 17, 2020 decided to adjust EssilorLuxottica’s governance in full respect of the equal powers principle of the business combination agreement, in order to accommodate its executive vice-chairman’s desire to retire.

Mr. Sagnières leaves all his executive responsibilities at EssilorLuxottica and its subsidiaries and will remain as non-executive vice-chairman of the company.

Huxley Optical Partners With Minnesota Rookie On Custom Eyewear Line
Photo Gallery

Huxley Optical Partners With Minnesota Rookie On Custom Eyewear Line

14 Images That Show Why Uber Optics Was Named America’s Finest Optical Retailer for 2023
Photo Gallery

14 Images That Show Why Uber Optics Was Named America’s Finest Optical Retailer for 2023

Celebrity Eyewear Pics Featuring David Beckham, Bella Hadid, and Tennis Star Coco Gauff
Photo Gallery

Celebrity Eyewear Pics Featuring David Beckham, Bella Hadid, and Tennis Star Coco Gauff

In order to preserve the equal powers principle of the business combination agreement currently in place, Leonardo Del Vecchio decided to voluntarily step back from his executive responsibilities at EssilorLuxottica and will remain non-executive chairman of the company.

The Board granted executive powers to Francesco Milleri and Paul du Saillant, who are appointed as Chief Executive Officer (CEO) and Deputy Chief Executive Officer (Deputy CEO) of EssilorLuxottica, respectively, until the appointment of the new Board of Directors by the 2021 annual general meeting of shareholders. Mr. du Saillant becomes Chairman and CEO of Essilor International.

The Board of Directors also decided to pay an interim dividend for the 2020 financial year of Euro 1.15 per share on December 28, 2020 (ex-date: December 23, 2020). This decision was supported by the efficacy of the measures taken to rein in costs and preserve cash and by the sound business recovery in the second half of the year.

“I want to thank Hubert for his success in turning Essilor into a world leader and helping to build EssilorLuxottica as the strong company it is today. The contributions he made during his career with the company are long-lasting. I’m also pleased that the resilient and disciplined approach we took to running our Company during a challenging year allowed us to make this dividend possible — it’s a strong sign that our business and our industry has the ability to push through great adversity”, commented Leonardo Del Vecchio.

Advertisement

“The incredible progress made over the last two years, and most recently under the impetus of Francesco and Paul, give me confidence that this is the right time for me to step back and transfer my executive powers to them, to facilitate a smoother governance transition. I know that this adjusted governance will further accelerate the integration of the Company and the delivery of synergies, benefitting all stakeholders, through the continued deployment of our Mission”, added Hubert Sagnières.

SPONSORED VIDEO

Turn Patients Into Loyal Eyewear Shoppers

80% of patients are browsing eyewear online, are you influencing patients online before your competition? Join thousands of practices thriving with Optify, voted the #1 optical sales tool by EyeVote. Empower your opticians to save time, increase optical revenue, and maximize your EHR data and website with a seamless optical plug-in that keeps patients buying from YOU! Now through August 31st receive a $25 UberEats® gift card when you complete a 15 min demo. Book your demo here..

Promoted Headlines

Advertisement

Advertisement

Subscribe

INVISIONMAG.COM
BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Advertisement

Most Popular