Essilor and Luxottica Take Steps Toward Formal Merger
Friday, March 24 2017 | 00 h 00 min | Agreements and Acquisitions, News, Press Release
The March 22 Directors meeting of Essilor International have approved the transfer of its activities and shareholdings to Delamare Sovara, its fully-owned subsidiary. Delamare Sovara will subsequently be renamed to Essilor International. Also, the share exchange of Luxottica shares by Delfin, for new Essilor shares was also approved.
These steps were taken subsequent to having obtained favourable opinions of the merger from employee shareholder groups. Discussions concerning the notification process of the transaction to anti-trust authorities are progressing, according to the company release.
The New Board of Directors, subject to shareholder’s approval in May, the new board will consist of the following;
- Hubert SAGNIÈRES, Chairman and CEO of Essilor International
- Philippe ALFROID, Non-independent Director
- Antoine BERNARD DE SAINT-AFFRIQUE, Independent Director
- Maureen CAVANAGH, Director representing employee shareholders
- Juliette FAVRE, Director representing employee shareholders
- Henrietta FORE, Independent Director
- Louise FRÉCHETTE, Independent Director
- Yi HE, Director representing employee shareholders
- Frank HENRIONNET, Director representing employees
- Bernard HOURS, Independent Director
- Annette MESSEMER, Independent Director
- Marc ONETTO, Independent Director
- Olivier PECOUX, Non-independent Director
- Laurent VACHEROT, President and Chief Operating Officer of Essilor International
- Jeanette WONG, Independent Director
For the complete press release click here.
