GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
EssilorLuxottica has clear succession planning for top roles, director says - Finance news and analysis from Global Banking & Finance Review
Finance

EssilorLuxottica has clear succession planning for top roles, director says

Published by Global Banking & Finance Review

Posted on October 27, 2026

2 min read

· Last updated: October 27, 2026

Add as preferred source on Google

EssilorLuxottica Reaffirms Robust Succession Planning for Senior Roles

EssilorLuxottica's Succession Strategy and Recent Developments

Official Statement on Succession Planning

MILAN, Oct 27 (Reuters) - EssilorLuxottica has clear and strong succession plans for the role of chief executive and other senior executives, the head of the board's nominations committee at the French-Italian eyewear giant said on Tuesday.

Concerns Raised by Del Vecchio Heir

His comments follow a radio interview by one of the heirs of late Luxottica founder Leonardo Del Vecchio, who complained about EssilorLuxottica CEO Francesco Milleri's alleged failure to prepare for his eventual succession at the helm.

Response from the Nominations Committee

"Any reports casting doubt on the strength of the succession planning at the top are entirely unfounded and damaging to the company's image and to the professionalism of its managers," Andrea Zappia, who chairs EssilorLuxottica's nominations and compensation committee, said in a statement.

Details of the Succession Plan

"There is a clear, well-defined and constantly updated succession plan for the roles of CEO and Deputy CEO and for all top positions, which, in line with the founder's vision, favors internal growth paths and has already proven its strength," Zappia added.

Management Team Reinforcement

He added the management team supporting Milleri - who was Del Vecchio's closest aide and chairs Delfin, the holding company that holds the family's EssilorLuxottica stake and other investments - had recently been reinforced and included "high-quality managers who can continue to grow".

Background and Future Outlook

On Tuesday, Leonardo Maria Del Vecchio said his late father had tasked Milleri with leading the succession at the helm of the family's business empire, adding the EssilorLuxottica CEO had failed to fulfill such a mandate.

Upcoming CEO Renewal

Milleri comes up for renewal as CEO of EssilorLuxottica at the next general meeting, which is expected to be held in the spring.

(Reporting by Elisa Anzoli; Editing by Valentina Za)

Key Takeaways

  • Andrea Zappia, chair of the nominations committee, emphasized that succession planning at the top is well‑defined, internal, proof-tested and regularly updated (marketscreener.com).
  • The statement was a direct response to Leonardo Maria Del Vecchio’s criticism, after he aired concerns that CEO Francesco Milleri had not adequately prepared for eventual succession (marketscreener.com).
  • This follows escalating internal tensions: Leonardo Maria has resigned from management roles and called for governance reviews at Delfin, amid a broader dispute over family control and strategy (investing.com).

References

Frequently Asked Questions

What did EssilorLuxottica say about its succession planning?
EssilorLuxottica stated it has a clear and regularly updated succession plan for CEO and senior executives, ensuring internal growth and stability.
Who raised concerns about EssilorLuxottica's succession plans?
One of the heirs of late Luxottica founder Leonardo Del Vecchio expressed concerns about the succession planning under CEO Francesco Milleri.
How did EssilorLuxottica respond to the succession concerns?
Andrea Zappia, board nominations committee head, affirmed the company’s strong, well-defined succession plans for top management roles.
When does Francesco Milleri's CEO term come up for renewal?
Francesco Milleri's term as CEO will be up for renewal at the next general meeting, expected in the spring.
What approach does EssilorLuxottica favor in succession planning?
The company favors internal growth paths for promotions, aligning with the founder’s vision and ensuring experienced leadership continuity.

Tags

Related Articles

More from Finance

Explore more articles in the Finance category