EssilorLuxottica to Pay 2020 Interim Dividend; Adjusts Governance
18 Dicembre 2020 - 7:55AM
Dow Jones News
By Mauro Orru
EssilorLuxottica SA said late Thursday that its board of
directors agreed to pay an interim dividend for 2020, citing the
business recovery in the second half of the year as well as the
success of cost-saving measures.
The Franco-Italian optical giant said the interim dividend of
1.15 euros ($1.41) a share would be paid in late December.
The announcement comes as Francesco Milleri and Paul du Saillant
have been respectively appointed chief executive and deputy chief
executive of EssilorLuxottica. Mr. du Saillant was also appointed
chairman and chief executive of Essilor International.
The two have been granted executive powers until the 2021 annual
general meeting, the company said.
EssilorLuxottica said it is adjusting its governance as Hubert
Sagnieres leaves his executive role to stay on as nonexecutive
vice-chairman, while Leonardo Del Vecchio is also stepping back
from his executive role and remaining as nonexecutive chairman of
EssilorLuxottica "to preserve the equal powers principle of the
business-combination agreement currently in place."
EssilorLuxottica was created in 2018 from the combination of
optical-lens manufacturer Essilor and luxury-eyewear maker
Luxottica.
"The incredible progress made over the last two years, and most
recently under the impetus of Francesco and Paul, give me
confidence that this is the right time for me to step back and
transfer my executive powers to them, to facilitate a smoother
governance transition," said Mr. Sagnieres.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
December 18, 2020 01:40 ET (06:40 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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