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EssilorLuxottica: reaches agreement on governance problems

( - On Monday EssilorLuxottica announced the conclusion of an agreement with Delfin Sàrl to put an end to governance problems and lay the foundations for a closer collaboration between Essilor and Luxottica.

According to this agreement, Francesco Milleri and Laurent Vacherot will be delegated with the responsibility to accelerate the group's simplification by integrating both operating companies within the next 12 to 24 months. However, they are not candidates for the position of CEO, for whom the group has confirmed its search.

As a result of this agreement, all legal proceedings will be abandoned and terminated, including Delfin's request for arbitration which it filed with the International Court of Arbitration of the International Chamber of Commerce on 27 March 2019.

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