EssilorLuxottica leadership change as Del Vecchio heir resigns

Leonardo Maria Del Vecchio has resigned from his positions as President of Ray-Ban and Chief Strategy Officer at EssilorLuxottica. He will now act solely as a shareholder through the family holding company, Delfin.

In his resignation letter, he stated that he no longer recognizes ‘the Luxottica that I remember alongside my father.’ His departure marks the first time since the death of founder Leonardo Del Vecchio in 2022 that none of the eight heirs are working operationally within the group.

The move highlights an ongoing governance crisis within Delfin, the major shareholder of EssilorLuxottica. This dispute among the heirs has lasted nearly four years and impacts not only the eyewear giant but also Delfin’s significant stakes in other major Italian institutions, including Monte dei Paschi di Siena, Generali, and UniCredit. The internal conflict comes as EssilorLuxottica faces increased competition in the smart glasses market from companies like Apple, Google, and Samsung.