×
3 493
Fashion Jobs
HOMESENSE
Homesense Altrincham Loss Prevention Security Officer Part Time 20 Hours
Permanent · Altrincham
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · London
ABERCROMBIE AND FITCH CO.
Asset Protection Agent
Permanent · London
NGG
Revenue Operations Manager
Permanent · LONDON
DEBENHAMS
Key Account Manager
Permanent · LONDON
BOOHOO
SEO Assistant & Copywriter
Permanent · MANCHESTER
FRASERS GROUP
General Kitchen Manager
Permanent · SHIREBROOK
URBN
Free People Keyholder - Duke of York, London (16hrs)
Permanent · LONDON
URBN
Free People Keyholder - Duke of York, London (32hrs)
Permanent · LONDON
HARVEY NICHOLS KNIGHTSBRIDGE
Security Officer
Permanent · LONDON
AESOP
Retail Consultant | Aesop Harrods Counter London | Full Time
Permanent · London
VF INTERNATIONAL
Credit Controller - German Speaking
Permanent · CALVERTON
NEW BALANCE
Associate Trade Marketing Manager, Lifestyle
Permanent · Warrington
MATCHES FASHION
Accounts Payable Assistant
Permanent · LONDON
SCHUH
Accounts Payable Specialist
Permanent · LIVINGSTON
I SAW IT FIRST
Head of Creative - i Saw IT First & Missguided
Permanent · STRETFORD
HOUSE OF FRASER
Loss Prevention Supervisor - House of Fraser
Permanent · DARTFORD
EVERLAST GYMS
General Manager - Everlast Gyms
Permanent · SELBY
MULBERRY
Customs Entry Coordinator
Permanent · SHEPTON MALLET
SELFRIDGES
Finance Manager - Stock
Permanent · LONDON
NEXT
Sales Manager - Stockton Teesside Retail Park
Permanent · THORNABY
NEXT
Sales Coordinator - Blackburn The Mall
Permanent · BLACKBURN
Ads
By
Reuters
Published
Nov 30, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

EssilorLuxottica's search for new CEO on track to start next year

By
Reuters
Published
Nov 30, 2018

EssilorLuxottica, the spectacles company formed by the merger of sector leaders Essilor and Italy’s Luxottica, said its search for a new chief executive would start next year as planned, dismissing speculations about a power struggle.

EssilorLuxottica dismissed rumours surrounding the appointment of Luxottica CEO Francesco Milleri to CEO of the recently merged group -Instagram/Luxottica - Instagram/Luxottica


“The search for a new CEO will start in January 2019. The appointment of Luxottica CEO Francesco Milleri is not on the agenda,” Olivier Pecoux, an independent board member, said in a statement made on behalf of the board.

Pecoux read out the statement as EssilorLuxottica held its first shareholders meeting on Thursday as a newly combined company, after French group Essilor completed a merger with Luxottica to create a world leader in lenses and eyewear.

The combination of the two has created a company with a combined market value of around 50 billion euros ($57 billion).

Some smaller rivals and opticians have expressed concerns that the merged company might use its strength to get opticians to buy their eyewear and lenses in a single package, leveraging on Luxottica’s strong brand portfolio which includes Ray Ban, Oakley and Persol as well as licensed names such as Chanel.

Having had some initial concerns about the deal, the European Commission approved the transaction unconditionally earlier this year, which led investors and bankers to speculate over more consolidation in the related industries.

Under the terms of the merger, Leonardo Del Vecchio, founder and executive chairman of Luxottica, and Essilor CEO Hubert Sagnieres are sharing powers for the first three years.

Last month, the group’s co-CFO Stefano Grassi said a search for a new CEO would start in January and headhunters would have until the end of 2020 to come up with a name. The board would then be entitled to approve the nomination.

But earlier this month, Luxottica said its chairman and founder Del Vecchio had expressed his intention to propose Luxottica Chief Executive Francesco Milleri as CEO of the new merged group.

Del Vecchio, who now acts as executive chairman of EssilorLuxottica, on Thursday confirmed his intention of abiding to the terms of the merger.

© Thomson Reuters 2023 All rights reserved.