Luxottica CEO leaves the company

september 3, 2014

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After the excitement of last week when HAL announced the IPO of Grandvision, this week started with another interesting topic for the financial markets. Luxottica CEO Andrea Guerra left the company all of a sudden after serious discussions with founder and main shareholder Leonardo Del Vecchio who wants to change the management structure of the company. At the age of almost eighty, Del Vecchio will return in charge of the company. He will be joined by two CEO’s which will take over the former responsibilities of Guerra. Guerra led Luxottica for ten years, doubled the revenues and almost tripled the stock quotation. He will leave with a package of about 45 million euro. Financial experts doubt if three captains at one ship will prove to be better as just one. Until now the news doesn’t seriously influence the quotation of the shares. Apparently investors wait and see what will happen.

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