Luxottica Group, a designer, manufacturer and distributor of luxury and sports eyewear, held an emergency Board of Directors meeting after Enrico Cavatorta, CEO of the company, resigned on Oct. 12, 2014.
Cavatorta, who previously served as Chief Financial Officer for the Milan-based organization, reportedly resigned over disagreements with founder Leonardo Del Vecchio, according to The Wall Street Journal. Specifically, “the two had conflicting views over the scope of Cavatorta’s powers…” He initially joined Luxottica in September 2014, taking over as CEO after Andrea Guerra stepped down from the position.
In the interim, Massimo Vian, current Chief Operations Officer, will be named co-CEO for Operations and Product, according to a company press release. Del Vecchio will take on executive responsibilities while Luxottica Group selects a new co-CEO of Markets “based on a high profile list of candidates.”
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Reporting revenue totaling more than $9 million (€7.3 million) in 2013, Luxottica operates 16 retail brands in 10 countries including Sunglass Hut International, Lenscrafters, Peale Vision, Sears Optical and Target Optical. In total, Luxottical Retail has more than 7,000 retail locations.
