The EssilorLuxottica nomination and compensation committee has retained two recruitment agencies to assist in finding candidates for the CEO role.
The mandate was given to Russell Reynolds Associates and Eric Salmon & Partners and includes evaluations of both internal and external candidates. Russell Reynolds Associates will coordinate the process.
The goal is to appoint a chief executive by the end of 2020, according to a press release from the company.
The future CEO will be agreed upon and proposed to the board of directors for joint appointment by both the executive chairman and the executive vice chairman and recommended by the nomination and compensation committee.
The selected candidate will initially be appointed as “directeur général délégué.”
The executive “shall be in charge of coordinating the activities of EssilorLuxottica as a pure holding and assisting the Executive Chairman and the Executive Vice-Chairman in their efforts to facilitate the integration of Essilor and Luxottica,” according to the release.
Essilor and Luxottica completed their merger in October. The organization has since been plagued by infighting among its leadership.
Media reports last month stated that the top shareholder of EssilorLuxottica had, through his holding company Delfin, asked for arbitration to address alleged violations of the merger agreement.