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But a protest vote would still have value. Published on Oct 01 2018.

There can be no real resolution to this problem until a CEO is brought in from outside.Thankfully, minority shareholders are continuing this fight – even if they have only a remote chance of winning. Will that person really have sway? Summing up the merger, it is bringing together two major and complementary global key players in the eyewear industry to improve and address the vision problems and vision health and the appetite for premium branded products. The importance of turnout means every vote counts.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.The overhaul still fails to address the flaws in the company’s governance – and has regrettably divided the minority shareholders who have been pressing for a long-term resolution to the conflict.Minority shareholders including Baillie Gifford and Fidelity International sought to resolve the feud by nominating two independent directors at this Thursday’s annual meeting.
Based on the companies’ 2015 results, the new company have posted combined net revenues of more than €15 billion and combined net EBITDA of approximately €3.5 billion.According to the advisers on the deal have presented it as a merger of equals, Del Vecchio will exchange 62 percent Luxottica stake for 38 percent of Essilor, which makes him the biggest shareholder of the combined group. The new entity would leverage state-of-the-art production capabilities and widespread distribution networks to better serve clients and deliver value to all stakeholders.With both the groups sharing the same values: the key mission is to improve vision across the world with more innovative techniques, ideas, an entrepreneurial spirit and an international mindset. The synergy thus formed of two naturally complementary products, frames and lens will come under one roof and look to serve vision needs of 2.5 billion people all over the world. Enter this section to read more and get in touch with the Financial Communication and Investor relations team. On Monday, the maker of Ray-Ban and Oakley sunglasses outlined a fresh leadership revamp to end the hostilities between chairman and dominant shareholder Leonardo del Vecchio and his deputy.The mystery is why Del Vecchio brought the full extent his rancor into the open with a rare interview in Le Figaro newspaper in March. Delfin S.à.r.l, the majority shareholder of Luxottica Group S.p.A. and Essilor International (Compagnie Générale d’Optique), today announced the successful completion of the combination of Essilor and Luxottica.The combined holding company named EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, prescription frames and sunglasses.By closing this banner, scrolling this page, clicking on a link or continuing browsing in any other way, you will agree to use of the cookies. Find out more about cookies Close message. Following the contribution by Delfin, at the time the majority shareholder of Luxottica, of its 62.42 percent stake in Luxottica to Essilor on Oct. 1, Essilor became the parent company of Luxottica and was renamed EssilorLuxottica. EssilorLuxottica is targeting mid-single digit sales growth at constant exchange rates for the next five years, it said in a presentation on the company website ahead of an investor day in London. The Commission concluded that the merger would not adversely affect competition in the European Economic Area or any 1H 2019 Results 4 1H 2019 RESULTS. Its share price is down 22 percent since the October merger, Bloomberg notes. This presentation includes forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.