This opens in a new window. “This is a milestone moment for EssilorLuxottica because we have successfully mapped out our go-forward strategy and initiated the first concrete moves of the integration. Its chair is held by a Director designated by Delfin. Its main shareholders are Delfin (38.93% of capital with voting rights capped at 31%) and EssilorLuxottica employees (4.9%). This is necessary to rebound faster when the recovery comes, fulfill our mission of improving lives by improving sight and further our integration with Luxottica. An Integration Committee will be put in place, co-chaired by EssilorLuxottica Executive Chairman and EssilorLuxottica Executive Vice-Chairman, to provide a forum for them and define measures required to implement the Integration and the synergies. Following the closing, EssilorLuxottica has a share capital made of 358,840,853 shares. EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses enabling people everywhere to learn, to work and to fulfil their potential. Financial Arrangements. The Corporate Social Responsibility Committee consists of four members. This younger and more focussed executive team brings together ample experience of the combination with Luxottica in many key areas and illustrates the rich talent pool of Essilor. Together, we will make EssilorLuxottica stronger,” said du Saillant. I would like to warmly thank Laurent for leading our Company in several key roles over the past 28 years. By continuing to browse the site you are agreeing to our use of cookies. EssilorLuxottica, a fully integrated player, is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. “I’m fully confident in Paul’s ability to write a successful new page in the integration of Essilor and Luxottica, together with a renewed team of energized young executives. EssilorVirtualExperience.com: Best-in-class customer immersive journey. He leaves it in very good shape financially, with a strong mission and a solid operational foundation on which to build for the future”, commented Hubert Sagnières, Chairman of Essilor. The industrial rationale of the combination is even stronger when looking at all the opportunities raised during the meetings of the integration committee. The association will join EssilorLuxottica's strategy and integration committee. essilorluxottica X This website or third-party tools used by the site itself use the cookies necessary for operation and useful for the objectives illustrated in the cookie policy, including the possibility of sending you advertisements according to your interests. Executive chairman of EssilorLuxottica, Leonardo Del Vecchio, said: “I’m very pleased about this outcome. EssilorLuxottica and Delfin sign settlement agreement to solve EssilorLuxottica’s governance issues and unlock the Group’s potential to accelerate the integration process It works in coordination with the Corporate Social Responsibility Committee which is in charge of monitoring the sustainable development and corporate social responsibility, fully integrated in the strategy. EssilorLuxottica was created out of the October merger of Essilor, a Paris-based lense maker, and Luxottica, the maker of frames controlled by Del Vecchio. Del Vecchio and Hubert Sagnières, who serves as vice chairman of the merged organization, empowered Francesco Milleri (deputy chairman – CEO of Luxottica Group) and Laurent Vacherot (CEO of Essilor International) to “develop and implement the EssilorLuxottica strategy and integration process, accelerating the simplification of the new Group by integrating the two operating … If you don't get a response from us within a month, it means that your application does not meet our current needs. Paul du Saillant has named a single combined management committee in order to optimize the integration process. The Management committee leads Essilor, driven by its historic human values, at the core of which lie diversity, entrepreneurial spirit and employee shareholding. To this end, Paul du Saillant, 61, is appointed CEO of Essilor. Prior to this, he was COO of Lhoist Group and Senior Executive Vice President of Air Liquide. Tel: +33 (0)1 49 77 45 02, 147 rue de Paris, 94220 It consists of four members and its chair is held by a Director designated by Delfin. • Leonardo Del Vecchio, executive chairman of EssilorLuxottica, and Hubert Sagnieres, executive vice chairman, have empowered Francesco Milleri (deputy chairman and CEO of Luxottica Group) and Laurent Vacherot (CEO of Essilor International) with the responsibility to develop and implement the EssilorLuxottica strategy and integration process, accelerating the simplification of the new group by … The Strategy Committee consists of six members but, unless otherwise determined by a joint decision of the EssilorLuxottica Executive Chairman and the EssilorLuxottica Executive Vice-Chairman, all Board members shall be invited to attend (but not to vote at) its meetings, except for meetings convened to discuss sensitive and significant acquisition projects. Ginette de Matteis LONDON—The management of EssilorLuxottica presented its strategic vision, integration progress and long-term financial guidelines at the company’s 2019 Capital Markets Day held here today. However, please continue to check our website as we regularly publish new job offers. EssilorLuxottica has 150,616 employees across 2 locations and €10.80 B in annual revenue in FY 2018. Find out more about cookies Close message. Its chair is held by a Director designated by Delfin. * PDF or Word document They will lead Essilor, driven by its historic human values, at the core of which lie diversity, entrepreneurial spirit and employee shareholding. The Audit and Risk Committee is in charge of monitoring issues relating to the compilation and audit of accounts and financial information as well as the efficiency of the internal audit and risk management systems. EssilorLuxottica is acquiring GrandVision from Dutch private equity (PE) group HAL – which holds a 76.72 percent majority stake in GrandVision – at a cash purchase price equal to €28 per share – to be increased by 1.5 percent to €28.42 if closing of the acquisition does not occur within 12 months from the announcement date (31 July 2019). The main duties of the Appointment and Compensation Committee within the work of the Board of Directors consist of making some proposals relating to the appointment of the Corporate officers and the Company’s senior managers,  the assessment of the way the Board and its committees operate, assessment of EssilorLuxottica Governance with respect to the Best practices, prevent any conflict of interest concerning a corporate officers or a Company’s senior managers, the compensation of the corporate officers or a Company’s senior managers. Enter the website to learn more. This is necessary to rebound faster when the recovery comes, fulfill our mission of improving lives by improving sight and further our integration with Luxottica. The Strategy Committee consists of six members but, unless otherwise determined by a joint decision of the EssilorLuxottica Executive Chairman and the EssilorLuxottica Executive Vice-Chairman, all Board members shall be invited to attend (but not to vote at) its meetings, except for meetings convened to discuss sensitive and significant acquisition projects. The merger integration … EssilorLuxottica Investor Relations (Charenton-le-Pont) Tel: + 33 1 49 77 42 16 (Milan) Tel: + 39 (02) 8633 4870 E-mail: ir@essilorluxottica.com EssilorLuxottica Corporate Communications They will not perceive any remuneration in respect of their office as Directors. They will continue to leverage and expand the power of Essilor’s mission to improve lives by improving sight with the full knowledge that companies with a strong mission better weather market volatility, mobilize talents faster and come out stronger as a result. This is necessary to rebound faster when the recovery comes, fulfill our mission of improving lives by improving sight and further our integration with Luxottica. The representative of Valoptec at the Board of EssilorLuxottica will integrate the Strategic and the Integration Committees of the Company. An integration committee, led by Leonardo Del Vecchio and Hubert Sagnieres, will ensure a smooth and successful integration of Essilor and Luxottica. Until the expiration of the Initial Term, an integration committee will be established and it will be co-chaired by the EssilorLuxottica Executive Chairman and the EssilorLuxottica Executive Vice-Chairman, to provide a forum for them to - among other things - review integration issues, define measures required to implement synergies and foster the development of a cohesive management. In parallel, the Board of Directors of Essilor SAS is being streamlined to 5 members from the previous 15, with a view to simplify decision processes and reduce the overlap with the EssilorLuxottica Board of directors. Formed in 2018, its … It is chaired by a Director who was a member of the Board of Directors of Essilor in office as of the date of the Combination Agreement and designated by Essilor. The remaining 56.8% of the shares are being publicly held. It is composed of Chrystel Barranger, Ernesto Diaz, Paul du Saillant, Rick Gadd, Norbert Gorny, Éric Léonard, Grita Loebsack, Frédéric Mathieu, Bernhard Nuesser, Arnaud Ribadeau Dumas, Éric Thoreux and David Wielemans. An integration committee, led by Leonardo Del Vecchio and Hubert Sagnières, will ensure a smooth and successful integration of Essilor and Luxottica. He succeeds Laurent Vacherot, 64, who has decided not to lead this new phase in the company’s future and to retire. EssilorLuxottica S.A. is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a Du Saillant has named a single combined management committee in order to optimize the integration process. Paul du Saillant has served as Deputy CEO of Essilor since 2019 and as COO from 2010 to 2019. To complete the combination of the two companies, Delfin, the majority shareholder of Luxottica, contributed its 62.42 per cent stake in Luxottica to Essilor on October 1, 2018. Charenton-le-Pont, France (March 30, 2020 – 6:00 p.m.) – In view of recent world changes, it has become necessary for Essilor to speed up its integration with Luxottica in order to build a more resilient, flexible and agile combined organization. #01 Connected life: take care of your eyes! Corporate Communications The Committee is responsible for corporate responsibility matters, sustainable development matters and Ethics & Compliance matters. For better navigation,we recommend viewing the sitein portrait mode, VISUAL HEALTH, A MAJOR PUBLIC HEALTH CONCERN, Addressing the global need and reaching the 2.7 billion underserved, VISUAL HEALTH, A MAJOR PUBLIC HEALTH CONCERN, #02 Presbyopia: Improving vision for today’s consumers & lifestyles. The Integration Committee, led by the Chairman and the Vice Chairman and supported by two integration leaders with deep knowledge of the Essilor and Luxottica … This site uses cookies. According to EssilorLuxottica, the agreement has empowered deputy chairman and CEO of Luxottica Group Francesco Milleri and Essilor International CEO Laurent Vacherot with the responsibility to execute EssilorLuxottica’s strategy and integration process. Chairman of EssilorLuxottica will integrate the Strategic and the integration Committees of the essilorluxottica integration committee...., financials, executives, subsidiaries and more at Craft with them and a rejuvenated management team, we make... 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