EssilorLuxottica Founder's Son Steps Down From Management Roles

By Andrea Figueras

EssilorLuxottica said Leonardo Maria Del Vecchio, son of the group's late founder, is stepping down from all his management responsibilities at the Ray-Ban owner.

Del Vecchio, whose roles within the Franco-Italian group include chairman of the Ray-Ban eyewear brand and chief strategy officer, is leaving his managerial duties to focus on new entrepreneurial projects, a spokesperson for EssilorLuxottica said.

"We express our gratitude for his contribution to the group's growth and the realization of the strategic vision championed by his father," the spokesperson said. "We wish him equal success in his new venture."

EssilorLuxottica confirmed Del Vecchio's departure after MF-Milano Finanza--an Italian financial publication--first reported that he would step down at the end of this month.

The Del Vecchio family held a roughly 32.4% stake in EssilorLuxottica at the end of last year through Luxembourg-based investment holding company Delfin, according to the group's website.

Del Vecchio's resignation "restores a separation between ownership and management that appears appropriate at this stage," Domenico Ghilotti, analyst at Equita SIM, wrote in a research note.

A change in chief executive, meanwhile, would be negative as current chief Francesco Milleri has consistently developed and executed the company strategy over the past few years, the analyst added.

Milleri was appointed CEO of EssilorLuxottica in 2020 and took on the additional role as chairman in 2022.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

August 25, 2026 07:35 ET (11:35 GMT)