After criticism of the top management by Leonardo Maria Del Vecchio, the response from the board of directors arrives shortly after Essilor Luxottica. The board of directors, in fact, also following the recent "public declarations", has "unanimously renewed its full confidence in the president and CEO Francesco Milleri, in the vice ad Paul du Saillant, in management and in the group's medium- and long-term strategy", approved by the board itself and "constantly confirmed by the solidity of the results achieved".
Essilux Board of Directors Renews Confidence in Milleri
Not only that. The Council "reaffirms its commitment to preserving stability and sense of responsibility which have always characterised EssilorLuxottica, in the interest of the group's employees, shareholders, partners and customers". The Essilux share on Paris Stock Exchange It reversed course and, shortly after 16 p.m., was up 1,3% at €151, recovering from its four-year lows. However, the underlying issues lie further upstream: the Del Vecchio heirs—who control Delfin, the multinational eyewear company's largest shareholder—blame Milleri for the stock's collapse, his lack of vision, and his excessive financial distractions.
Delfin's reproaches to Milleri
Only a few days ago, in fact, on the sidelines of the Teha Forum, Leonardo Maria Del Vecchio publicly hoped for "a change in strategy and a new phase" for Essilux and underlined the need for Essilux to return to the centre, which is the legacy, the true investment of Delfin, the true legacy of our father, who It has lost 50% on the stock market. It needs to be brought back to 300 euros.“And yet another dig: “I would like,” he said, “board members to be board members and to do it full-time, not part-time.”
