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EU: Warring EssilorLuxottica bosses want to end merger dispute

 |  May 12, 2019

According to the Financial Times, the executive chairman and co-chief executive at EssilorLuxottica are trying to resolve their long-running battle ahead of an annual meeting at which investors are pushing to shake up the board of the French-Italian eyewear group.

Tensions between Leonardo Del Vecchio, Luxottica’s founder and executive chairman, and Hubert Sagnières, co-chief executive, have simmered for months. But the row erupted publicly in March over plans to hire a new chief executive to run the group, created from one of Europe’s largest ever cross-border mergers in 2017.

The two sides are working towards a “peace deal,” which would see Mr Del Vecchio and Mr Sagnières step back from their executive roles, according to people close to Mr Del Vecchio, who is the company’s largest shareholder.

Full Content: Financial Times

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