EssilorLuxottica: EssilorLuxottica Nomination and Compensation Committee initiates the search of a future Chief Executive Officer with the support of two international executive search firms

EssilorLuxottica Nomination and Compensation Committee initiates the search of a future Chief Executive Officer with the support
of two international executive search firms

Charenton-le-Pont, France (April 17, 2019) - In line with the agreement reached between Delfin and EssilorLuxottica prior to the closing of the business combination between EssilorLuxottica and Luxottica, the EssilorLuxottica Nomination and Compensation Committee has retained – after consultation with the Executive Chairman and the Executive Vice-Chairman – two recruitment agencies to assist in finding candidates – according to the “best fit for the job” principle – to serve as Chief Executive Officer and to be appointed by the end of 2020.

Pursuant to the existing agreements, the future CEO will be agreed and proposed to the Board of Directors for joint appointment by both the Executive Chairman and the Executive Vice-Chairman and recommended by the Nomination and Compensation Committee.

The selected candidate shall initially be appointed as “Directeur Général Délégué” and shall be in charge of coordinating the activities of EssilorLuxottica as a pure holding and assisting the Executive Chairman and the Executive Vice-Chairman in their efforts to facilitate the integration of EssilorLuxottica and Luxottica. Its powers shall be defined by the Board based on the joint recommendation of the Executive Chairman and the Executive Vice-Chairman. In the meantime, both the operating companies, Luxottica and EssilorLuxottica, shall remain separate legal entities fully empowered to run their own business autonomously and under their own leaderships and CEOs with certain exceptions.

The mandate was given to Russell Reynolds Associates and Eric Salmon & Partners and includes evaluations of both internal and external candidates. Russell Reynolds Associates will coordinate the process.  

EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux^® and Transitions^®, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family. In 2018, EssilorLuxottica had nearly 150,000 employees and pro forma consolidated revenues of approximately Euro 16 billion.
The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.

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