Leonardo Maria Del Vecchio – son of the late Luxottica founder Leonardo Del Vecchio – has resigned as chief strategy officer with EssilorLuxottica and president of the Ray-Ban brand.
In his resignation letter, Mr Del Vecchio reportedly accused the company’s corporate management of being “distant” and “impersonal”, saying it was far removed from the people “who must once again be put at the centre” of the group, as in “Luxottica 20 years ago”.
“This is not the Luxottica I grew up in. And it is not the Luxottica I remember alongside my father,” Mr Del Vecchio is reported as saying.
EssilorLuxottica confirmed Mr Del Vecchio’s departure after MF-Milano Finanza – an Italian financial publication – first reported that he would step down at the end of August.
The 31-year-old will dedicate himself to “new entrepreneurial projects”.
EssilorLuxottica thanked Mr Del Vecchio for his contribution to the company, wishing him “equal success in his new venture”.
Mr Del Vecchio remains a shareholder through his stake in Delfin, which controls 32.4% of the shares in the optical company.
