Leonardo Maria Del Vecchio, son of EssilorLuxottica's founder, publicly advocated that the group needs a new strategy after losing more than half its market value in recent months. The businessman, quoted by Reuters, stated that the eyewear company needs a change of course to recover the lost ground.
Del Vecchio stepped down in August from the management positions he held at the owner of the Ray-Ban and Oakley brands, after reports of tensions with CEO Francesco Milleri. This departure marks a moment of rupture in the group's leadership.
Despite leaving management, Del Vecchio remains an investor through holding company Delfin, which controls 32.4% of EssilorLuxottica. For the businessman, the eyewear group represents the main industrial investment and the legacy that must be protected by the family holding.
Delfin also holds stakes in several Italian financial groups, including 17.5% of Monte dei Paschi di Siena. Del Vecchio stated that banks are financial investments and criticized the alleged lack of transparency of the holding's board of directors.
