EssilorLuxottica faces internal conflict amid family inheritance dispute

Leonardo Maria Del Vecchio, an heir to the EssilorLuxottica empire, has publicly criticized CEO Francesco Milleri, accusing him of a lack of vision and blaming him for a decline in the company’s share price. The dispute follows the death of founder Leonardo Del Vecchio and involves a battle over a family fortune estimated at more than €55 billion ($88 billion).

In a recent podcast interview, Leonardo Maria Del Vecchio expressed personal grievances regarding his relationship with his late father and criticized the current leadership of the eyewear giant. While Milleri has dismissed the public disagreements as “useless and unfounded,” the tension comes at a critical time for the company. Despite the heir's criticisms, EssilorLuxottica shares recently surged approximately 15 per cent following better-than-expected financial results, which may bolster Milleri’s position ahead of his reappointment next year.