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Luxottica executive leaves ahead of group's tie-up with Essilor

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Luxottica executive leaves ahead of group's tie-up with Essilor

Luxottica Group SpA said CEO for Product and Operations Massimo Vian is leaving the group ahead of its merger with Essilor International Société Anonyme.

Vian is departing three months before the expiry of his term. He will be paid a gross total amount of €6.3 million in addition to severance pay.

The company will hand over the executive responsibilities to Executive Chairman Leonardo Del Vecchio and the Deputy Chairman Francesco Milleri, who is assuming the role of CEO.

CFO Stefano Grassi has been appointed to the company's board.

On Dec. 11, Essilor Chairman and CEO Hubert Sagnières said Essilor and Luxottica will find a new CEO to lead the group once their merger closes.