Only six weeks ago Luxottica CEO Andrea Guearra suddenly left the company. This week two other top managers, Enrico Cavatorta and Roger Abravanel followed him due to disagreement with Leonardo Del Vecchio about the future strategy of the company. Financial newspapers and analysts worldwide comment on the situation and refer to other Italian companies where the (major) shareholders seem to have problems to hand over responsibilities to a new and younger management team. Analysts criticize the role of Del Vecchio’s wife and some of her friends. Due to all the commotion the Luxottica share price dropped with about 10 dollar in only a few days. Analysts question which top managers want to join a company where two CEO’s left within less than two months. Vision-Today follows the news and keeps you posted.
