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This article was published on 30 January 2016 at 08:16.
MILAN
New reorganization surprise at the top of Luxottica: Adil Khan, arrived a year ago, leaves his position as CEO of the group eyewear, with the chairman Leonardo Del Vecchio, founder of the group, who assumes all the powers in the markets and become executive chairman. The other to Massimo Vian remains in place and continues in the role of CEO and Product Operations.
The note, issued in the late evening after a board of directors river, crowds out the market. He explains the release of Khan, who will receive a severance payment of 7 million, with a theme of simplification. “My decision to assume operational authority and make a more active contribution to management comes from knowing that in this new market environment and to accelerate the evolution underway in the markets we want a renewed entrepreneurial spirit,” said Del Vecchio, explaining his move to assume executive powers and confirming that the new structure at the top, you will see the founding hero, “is also a guarantee that the growth, efficiency and investment remain priorities and will continue to have a long-term horizon.”
MILAN
The same Khan stressed that “there was no conflict with the rider Del Vecchio is an issue of simplification of the management, in three we were not efficient enough.”
Speaking with Reuters, Del Vecchio said the role he wanted, and the dream he had for this company, “is the founder, controlling shareholder, has every right and ability to make it happen,” He continued the outgoing manager. “Leonardo Del Vecchio – he added – is certainly realistic about the fact that one does not imagine a decade of its presence in Luxottica, but certainly wants to return to lead the company in the next two or three years.”
The ad Massimo Vian finally pointed out that it was “a year of great collaboration and results” and confirmed the new business plan.
A theme of simplification, then, but above all a new return to the forefront of Del Vecchio revolutionizes the third time the summit of the giant glasses. Unconfirmed report of a vision of sync between the outgoing and to the owner of the group.
But certainly at this point they will open a series of questions. First is whether the new vertex and ‘final, or exit the ad Adil Khan will be replaced in a short period of time. Second, it is keenly awaiting the response of the market to the new relay.
While waiting for answers, you look at the numbers with Luxottica, which continues to grow at double digits. Luxottica has closed 2015 with a turnover adjusted up 17% over the record level of 9 billion (+ 5.5% at constant exchange rates). Both wholesale and retail divisions have contributed to the results with an increase of respectively 12.5% and 20.3%. To highlight the exceptional performance of e-commerce with a revenue increase of 50%.
Europe and emerging markets have driven growth with sales increases of 7.8% and 14.5% (+ 6.8% and + 13.3% at constant exchange rates). Also excellent results in North America that continue to benefit from the strength of domestic demand.
In the fourth quarter of 2015. Adjusted revenue improved by 8.9% (+ 2.7% at constant exchange rates) exceeding 2 billion, with wholesale and retail divisions up respectively 7.7% and 9.6% (+ 7.1% and + 0.1% at constant exchange rates).
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