|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||59.36 - 59.68|
|52 Week Range||53.76 - 75.34|
|Beta (3Y Monthly)||0.39|
|PE Ratio (TTM)||30.32|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||52.50|
In 2017, Italian eyewear behemoth Luxottica announced a merger with Essilor, a French lenses manufacturer. The $49 billion merger furthered Luxottica's entrance into all facets of eyewear, from design, to manufacturing, to retail. Though the merger was approved by several major international trade commissions, including the U.S.' FTC, some antitrust experts question if the move will help consumers, or entrench the industry standard in which glasses cost hundreds of dollars.
Moody's Investors Service ("Moody's") has today affirmed the A2 long-term issuer rating of world leading prescription lens and frames maker EssilorLuxottica. Concurrently, Moody's has also affirmed the (P)A2/(P)P-1 ratings of EssilorLuxottica's senior unsecured MTN program and affirmed EssilorLuxottica's short-term issuer ratings and commercial paper ratings at P-1/ P-1.
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EssilorLuxottica shareholders rejected resolutions to appoint two independent board members during a fractious general meeting in Paris on Thursday, as the newly merged eyewear group attempts to move past ...
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Leonardo Del Vecchio, the 83-year-old founder of the Italian company behind Ray-Ban, Oakley and Sunglass Hut, last week played host to a billionaire fan: Mark Zuckerberg. Photographs showed the Facebook founder and Mr Del Vecchio, whose fortune is estimated at $20bn, strolling through the grounds of eyewear group Luxottica’s first factory deep in the foothills of the Dolomite mountains. On Thursday, Mr Del Vecchio faces what is expected to be a bruising shareholder meeting of EssilorLuxottica, the multinational created from the merger in early 2017 of Luxottica with France’s Essilor, the world’s leading maker of lenses.
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.
Peter Montagnon, an associate director at London’s Institute of Business Ethics who had been proposed to become an independent board member at the eyewear company, called it a “sham agreement.” The shares pared most of their earlier gains of as much as 5.1 percent. The comments cast a pall over the agreement between Chairman Leonardo Del Vecchio, who led the Luxottica side, and Vice Chairman Hubert Sagnieres, who comes from Essilor, to transfer power to their respective deputies, who would not seek the CEO position. Del Vecchio’s investment company Delfin followed up with a statement of its own, saying it stands by the agreement and pledging support for the further integration of the two companies.
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.