Essilor-Luxottica Group Will Have New CEO, Says Essilor Chief -FT

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Essilor-Luxottica will look for a new chief executive following merger, says Essilor's CEO Hubert Sagnieres, the Financial Times reported Sunday.

--Mr. Sagnieres did not give a time frame for the new appointment and said that Luxottica's founder Leonardo Del Vecchio supports the idea.

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--Before any appointment is made, Mr. Del Vecchio and Mr. Sagnieres will share executive powers equally, the Financial Times reports, noting that Mr. Del Vecchio will be the single largest shareholder of the combined group, controlling around one third of the stake.

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(END) Dow Jones Newswires

December 11, 2017 04:56 ET (09:56 GMT)