Ray-Ban's chairman quits EssilorLuxottica, saying the company grew distant from its staff
Leonardo Maria Del Vecchio, son of the founder, leaves the roles of Ray-Ban chairman and group chief strategy officer on August 31. He wrote that management had become distant and impersonal as the company scaled. He keeps a 12.5 per cent stake in Delfin, the holding company that controls about 32.4 per cent of EssilorLuxottica. The Italian-French group's annual revenue exceeds 28 billion euros.
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Reported development
Ray-Ban's chairman quits EssilorLuxottica, saying the company grew distant from its staff Leonardo Maria Del Vecchio, son of the founder, leaves the roles of Ray-Ban chairman and group chief strategy officer on August 31. He wrote that management had become distant and impersonal as the company scaled. He keeps a 12.5 per cent stake in Delfin, the holding company that controls about 32.4 per cent of EssilorLuxottica. The Italian-French group's annual revenue exceeds 28 billion euros. He keeps a 12.5 per cent stake in Delfin, the holding company that controls about 32.4 per cent of EssilorLuxottica. He said he would go on exercising shareholder rights.[1]
Details in the report
Leonardo Maria Del Vecchio, son of the founder, leaves the roles of Ray-Ban chairman and group chief strategy officer on August 31. He wrote that management had become distant and impersonal as the company scaled. He keeps a 12.5 per cent stake in Delfin, the holding company that controls about 32.4 per cent of EssilorLuxottica. He said he would go on exercising shareholder rights. The Italian-French group turns over more than 28 billion euros a year. His half-brother Rocco Basilico left last year in similar circumstances.[1]
Additional context
Ray-Ban's chairman quits EssilorLuxottica, saying the company grew distant from its staff Leonardo Maria Del Vecchio, son of the founder, leaves the roles of Ray-Ban chairman and group chief strategy officer on August 31. He wrote that management had become distant and impersonal as the company scaled. He keeps a 12.5 per cent stake in Delfin, the holding company that controls about 32.4 per cent of EssilorLuxottica. The Italian-French group turns over more than 28 billion euros a year. His half-brother Rocco Basilico left last year in similar circumstances.[1]
