Leonardo Maria Del Vecchio, a son of the late Luxottica founder, will resign from his management positions at EssilorLuxottica, the company confirmed Tuesday. He will vacate his roles as chairman of the Ray-Ban brand and as chief strategy officer for the Franco-Italian eyewear group.
The decision follows reports in the Italian daily newspaper MF-Milano Finanza regarding leadership changes at the company. Del Vecchio is the son of Leonardo Del Vecchio, who established the Italian eyewear maker Luxottica before its merger with the French company Essilor.
According to a resignation letter reported by MF-Milano Finanza, Del Vecchio criticized the management style of CEO Francesco Milleri. The newspaper reported that Del Vecchio described the current administration of the company as "distant" and "impersonal." His departure is scheduled to take effect on August 31.
An EssilorLuxottica spokesperson expressed gratitude for Del Vecchio's contributions to the group's growth. The company stated that he helped realize the strategic vision originally championed by his father and offered well wishes for his future business endeavors.
Investors and market analysts will monitor how this departure impacts the relationship between the company's largest shareholder and its executive leadership. The exit of a founding family member from active management can sometimes signal shifts in internal governance or strategic direction. However, as Delfin retains its nearly one-third ownership stake, the family maintains significant influence over the company's long-term trajectory and board composition.
For the company's workforce and retail partners, the departure of the chief strategy officer may lead to adjustments in how the group's various brands are positioned and managed. The transition is set to be immediate, with the official resignation date of August 31 occurring less than a week after the announcement. What happens next depends on whether the board appoints a successor from within the current management team or seeks an outside candidate to fill the strategy and Ray-Ban leadership roles.