EssilorLuxottica airs disagreements in the media

Tensions between Leonardo Del Vecchio and Hubert Sagnieres of EssilorLuxottica have been exposed.

Del Vecchio, executive chairman and founder of Luxottica, was quoted in an interview in Le Figaro that Sagnieres, the group’s executive vice chairman, only listened to himself, accused him of a power grab and that the 400-600 million euros of cost savings expected of the merger had fallen behind its schedule.

Del Vecchio said: ‘Hubert Sagnieres only accepts what he himself has proposed, he refuses a proposal from anyone else, we’ve had to accept everything he does. As soon as the first general assembly of the new group on November 29, he behaved as if Essilor had bought Luxottica.’