×
36 728
Fashion Jobs
TOO FACED
Account Executive - Manhattan, New York
Permanent ·
GIII APPAREL GROUP
Accounts Payable Coordinator
Permanent · New York
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Mesa
SALLY BEAUTY CORPORATE
Dbe Barber Account Executive
Permanent · New York
SALLY BEAUTY CORPORATE
Dbe Barber Account Executive
Permanent · Nashville
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Eugene
SALLY BEAUTY CORPORATE
District Manager
Permanent · Winston-Salem
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Reno
CENTRIC BRANDS
Associate, Account Executive - Los Angeles (Hudson)
Permanent · Los Angeles
CENTRIC BRANDS
Area Manager - Bcbg - Texas
Permanent · New York
CENTRIC BRANDS
Senior Analyst - m&a - Business Development
Permanent · New York
CENTRIC BRANDS
Sales Manager, Bcbg - Division - Fashion Valley 624
Permanent · San Diego
ULTA BEAUTY
Prestige Sales Manager-Alabaster Promenade
Permanent · Alabaster
ULTA BEAUTY
Prestige Sales Manager-Shoppes of Mentor
Permanent · Mentor
ULTA BEAUTY
Prestige Sales Manager-Marshall's Plaza
Permanent · DeWitt
ULTA BEAUTY
General Manager-Lincoln Square
Permanent · Arlington
ULTA BEAUTY
Prestige Sales Manager-Water Tower Place
Permanent · West Des Moines
ULTA BEAUTY
Prestige Sales Manager-Ocean County Mall
Permanent · Toms River
ULTA BEAUTY
Retail Sales Manager-Water Tower Place
Permanent · West Des Moines
ULTA BEAUTY
Retail Operations Manager-Ocean County Mall
Permanent · Toms River
ULTA BEAUTY
Retail Operations Manager-Firewheel Town Center
Permanent · Garland
ULTA BEAUTY
Retail Sales Manager-Ocean County Mall
Permanent · Toms River

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

By
Reuters
Published
today Nov 30, 2018
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

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 2019 All rights reserved.