Milan (Italy), October 12, 2014
In compliance with the request of the market authorities, Luxottica Group S.p.A. is issuing the following statement.
Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX), a leader in the design, manufacture, distribution and sale of fashion, luxury and sports eyewear, announces that a meeting of the Board of Directors has been called for tomorrow, Monday 13th October 2014, following the intention expressed by Enrico Cavatorta to submit to the Board his resignation as CEO of the Company.
The Chairman will propose that the Board appoint Massimo Vian, current Chief Operations Officer, with the mandate of co-CEO for Operations and Product, and to entrust him on an interim basis with responsibility for Corporate Functions and Markets. If approved, all business functions and related responsibilities will consequently be under the exclusive responsibility of the two co-CEOs.
The Company also confirms that the search process for a co-CEO for Markets is progressing, based on a high profile list of candidates. In light of the solid results achieved also in the third quarter, Luxottica is in a position to take the necessary time to execute this search, in order to ensure that the best decision is made for the Company.
The Chairman announces that a reorganization of Delfin S.à.r.l., the majority shareholder of Luxottica, is being examined with the aim of improving its governance and further separating ownership from the management of its portfolio companies. Leonardo Del Vecchio also announces that the appointment of Leonardo Maria Del Vecchio to the Board of Directors has never been considered and that current director Claudio Del Vecchio will not be reappointed following the natural expiration of his mandate, to give consistency and coherence to the positions of all members of the family.
Alessandra Senici Group Investor Relations Director
Tel.: +39 (02) 8633 4870