World News: 18:31 GMT Wednesday 17th April 2019. [EssilorLuxottica via Globe Newswire via SPi World News]
Pursuant to the existing agreements, the future CEO will be agreed and proposed to the Board of Directors for joint appointment by both the Executive Chairman and the Executive Vice-Chairman and recommended by the Nomination and Compensation Committee.
The selected candidate shall initially be appointed as “Directeur Général Délégué” and shall be in charge of coordinating the activities of EssilorLuxottica as a pure holding and assisting the Executive Chairman and the Executive Vice-Chairman in their efforts to facilitate the integration of Essilor and Luxottica. Its powers shall be defined by the Board based on the joint recommendation of the Executive Chairman and the Executive Vice-Chairman. In the meantime, both the operating companies, Luxottica and Essilor, shall remain separate legal entities fully empowered to run their own business autonomously and under their own leaderships and CEOs with certain exceptions.
The mandate was given to Russell Reynolds Associates and Eric Salmon & Partners and includes evaluations of both internal and external candidates. Russell Reynolds Associates will coordinate the process.
Globe Newswire: 18:31 GMT Wednesday 17th April 2019
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