The group says it's simplifying its structure.
Luxottica Group CEO Massimo Vian is leaving the company as it works toward a merger with Essilor.
The company is consolidating power in the hands of the Executive Chairman Leonardo Del Vecchio and Deputy Chairman Francesco Milleri, according to a press release. Milleri will step into the CEO role.
Chief Financial Officer Stefano Grassi has been appointed to Luxottica’s board of directors.
Vian's departure comes three months before the expiration of his term, according to the release.
"We thank Massimo for his contributions over the past 13 years," said Del Vecchio, who founded the company. "He brought passion and energy to defining a modern and innovative Operations organization. Also thanks to him today, Luxottica has a strong team of managers who share the same focus on quality and innovation. We wish him every success in his future professional endeavors."
Del Vecchio also noted, "We have almost completed the Group’s reorganization and simplification process, which was started more than three years ago."
Vian said: "It has been a real privilege to grow internally within the Group, working side by side with great men and women, and year after year to achieve extraordinary results. I leave the office close to the expiration of my term, aware of my contribution, and wish that the new chapter of the great history of Luxottica will continue to be rich and full of successes."
Milan, Italy-based Luxottica's proposed deal with Essilor, a France-based maker of lenses as well as instruments and equipment, is valued at 48 billion euros (U.S. $56.5 billion). The combined company would be called EssilorLuxottica.
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