|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||117.70 - 118.95|
|52-week range||95.50 - 129.55|
|Beta (3Y monthly)||0.58|
|PE ratio (TTM)||28.98|
|Forward dividend & yield||2.04 (1.73%)|
|1y target est||N/A|
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EssilorLuxottica declared an end to a feud between its French and Italian partners on Monday, saying it would drop all legal proceedings and focus on integrating the eyewear group formed by last year's 54 billion euro ($61 billion) merger. The company, which brings together Ray-Ban maker Luxottica and lenses specialist Essilor, also reaffirmed its ambition to find a new chief executive by the end of 2020. Shares in EssilorLuxottica, which have been rattled as the dispute was fought out in public, were up 0.27 percent at 1422 GMT, among the rare gainers on the Paris benchmark CAC-40 index, which was down 1.4 percent.
On Monday, the maker of Ray-Ban and Oakley sunglasses outlined a fresh leadership revamp to end the hostilities between chairman and dominant shareholder Leonardo del Vecchio and his deputy. The overhaul still fails to address the flaws in the company’s governance – and has regrettably divided the minority shareholders who have been pressing for a long-term resolution to the conflict. 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.
Eyewear group EssilorLuxottica's feuding French and Italian partners are close to signing a peace deal to end a boardroom dispute over the group's leadership that threatened to pull it apart, France's Les Echos business daily reported on Sunday. Citing two unnamed sources familiar with the matter, Les Echos said the agreement could be signed later on Sunday evening. A spokeswoman for EssilorLuxottica declined to comment.
EssilorLuxottica kept its full-year outlook unchanged on Tuesday after posting upbeat first-quarter sales, although some concerns remain among investors over the future of governance at the world's largest eyewear manufacturer. EssilorLuxottica was formed last October after the merger of French lenses specialist Essilor and Italian spectacles maker Luxottica, creating the world's largest eyewear maker in a 54 billion euro deal. Presented two years ago as a logic fit and merger of equals, the EssilorLuxottica deal derailed shortly in a management crisis at the very top of the new holding company, with both sides accusing each other of trying to secure leadership.
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Valoptec International which represents employees and former employees of Ray Ban maker EssilorLuxottica has proposed the appointment of an additional independent director to the group's board in a bid to resolve governance issues. Valoptec said in a statement it had submitted a draft resolution for a May 16 EssilorLuxottica shareholders meeting, to appoint British national Peter James Montagnon as independent director.
French-Italian eyewear group EssilorLuxottica has hired two headhunters to search for a new chief executive officer in a bid to cool a conflict between its French and Italian partners over leadership of the company. EssilorLuxottica, which resulted from the merger of French lenses maker Essilor and Italian frame manufacturer Luxottica last October, is being torn apart as the two groups, who were supposed to have equal weighting in the combined company's leadership, accuse each other of trying to dominate. Tensions became apparent last November, when Luxottica's founder Leonardo Del Vecchio, who is the chairman of the merged entity, appeared to tap his right-hand man, Francesco Milleri, for the chief executive's role, irking the French side.
Hubert Sagnières is the CEO of EssilorLuxottica Société anonyme (EPA:EL). This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. Then we'll look at a snap s...
PARIS/MILAN (Reuters) - A row over who is in charge at Ray-Ban maker EssilorLuxottica could drag on for two years or more after the recently merged group's executive chairman filed an arbitration request after alleged violations of a power-sharing agreement. French lenses producer Essilor and Italian frame manufacturer Luxottica merged last October, creating the world's largest eyewear maker in a 54 billion euro ($61 billion) deal. EssilorLuxottica's shares fell 2.7 percent by 1510 GMT on Thursday after the holding of Luxottica's founder Leonardo Del Vecchio said it had filed an arbitration request with the Paris-based International Chamber of Commerce.
You don’t need to be a McKinsey partner to know that when you have “too many cooks” you might burn down the kitchen. It’s a pity, then, that France’s Essilor and Italy’s Luxottica didn’t think about that before agreeing a $53 billion eyewear merger in 2017. In a delicious irony, McKinsey is advising the joint company, EssilorLuxottica SA, on its post-merger integration.
MILAN/PARIS (Reuters) - The top shareholder and executive chairman of EssilorLuxottica has filed an arbitration request to verify alleged violations of a merger agreement between the Italian and French groups, further escalating a spat over power sharing. Essilor and Luxottica merged last October, creating the world's largest eyewear maker in a 54 billion euro ($61.73 billion) deal. Delfin, the holding of Luxottica's founder Leonardo Del Vecchio, said in a statement the arbitration request was filed with the International Chamber of Commerce.
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Tensions at the top of glasses company EssilorLuxottica burst into the open on Thursday when the group's Italian executive chairman and its French vice chairman accused each other of plotting to take control of the combined group. France's Essilor and Italy's Luxottica merged last October, creating the world's largest eyewear maker in a 54 billion euro (46.9 billion pounds) deal. The two groups were supposed to have equal weighting in the leadership of the combined company but they now accuse each other of trying to gain the upper hand, the latest example of squabbles between France and Italy over business partnerships .
Infighting at the top of EssilorLuxottica turned personal on Wednesday with the top shareholder and executive chairman accusing the Franco-Italian group's executive vice chairman of a power grab in a newspaper interview. France's Essilor and Italy's Luxottica merged last October, creating the world's largest eye-wear maker in a 54 billion euro (£46.66 billion) deal. Leonardo Del Vecchio, the founder of Luxottica who is now the largest shareholder and executive chairman, said Hubert Sagnieres, the executive vice chairman, would listen only to himself.