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Truce Declared in France And Italy
Truce Declared in France And Italy
May 05, 2019
It appears the legal proceedings surrounding the future of integration at EssilorLuxxotica have been dropped, allowing both sides to work together again merging company operations while searching for a future CEO.
As part of the agreement, Luxottica’s CEO, Francesco Milleri and Essilor’s CEO, Laurent Vacherot, will not apply to become to merged company CEO. This ends what was seen as the cause of the troubles, when Luxottica founder and EssilorLuxottica’s largest shareholder, Leonardo Del Vecchio, pushed to have his protégé, Milleri named as the new CEO of the combined $54 billion company. Will this be a lasting peace? How long do you see this truce lasting?