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EssilorLuxottica Restructures Leadership Amid Founder Feud

Financial Times Companies •
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Francesco Milleri has overhauled senior management at the Milan-based eyewear group following a public rift with founding family member Leonardo Maria Del Vecchio. The changes come as EssilorLuxottica accelerates its push into North America, integrating traditional eyewear operations with its growing medtech business. Del Vecchio abruptly stepped down last month as chief strategy officer and president of Ray-Ban, citing a breakdown in his relationship with Milleri and concerns over the company's transformation.

The head of R&D and marketing, along with the chief commercial strategy officer, also departed this summer. Their responsibilities have been consolidated, with Chrystel Barranger appointed chief growth officer, Davide Schinetti taking an expanded role as chief operating and R&D officer, and Alfonso Cerullo promoted to oversee optical retail and medical and surgical activities in North America. The family dispute stems from a controlling stake held by the late Leonardo Del Vecchio's heirs.

Leonardo Maria had failed to secure family backing for a €12bn loan to buy out siblings, fueling tensions. He warned that the enthusiasm and sense of belonging had faded, questioning whether Milleri would be reappointed when his term expires in April 2027. The situation highlights a broader conflict over the future of the business empire.