Essilor and Luxottica to Hire New CEO on “Best Fit to the Job” Principle

In what might appear to outsiders as a compromise and possible fence-mending, the EssilorLuxottica (EL) the company has announced that the Nomination and Compensation Committee will conduct a search for a future CEO that will include both internal and external candidates. 

The press release indicates that the search is “in line with the agreement between Delfin and Essilor” and further makes the point that the “best fit for the job” principle will be applied.  The appointment target date is end of 2020.

The new appointee will, according to the release, be in charge of coordinating activities of the EL holding company. In the mean time Luxottica and Essilor shall remain separate legal entities “fully empowered to run their own businesses autonomously…with certain exceptions.”  The press release, made under the new EssilorLuxottica masthead and logo, does not elaborate on what the exceptions might be.

Click here to view the full press release.

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