Business · Companies · 10 hrs ago
Del Vecchio criticizes EssilorLuxottica CEO over company’s 50% decline
Leonardo Maria Del Vecchio has criticized Francesco Milleri, the chief executive of EssilorLuxottica, saying the company has fallen by 50%.
He said he stepped back from the eyewear group, founded by his father, because he believed its performance had suffered and workers’ pay had been held back.
Del Vecchio remains a shareholder through Delfin, which he said owns 30% of EssilorLuxottica.
He said the company had lost the vision his father provided.
Del Vecchio also discussed his father’s estate, which he described as worth 40 billion euros, and a 300 million euro bequest to Milleri.
Disputes over the estate have led some heirs to accept their inheritance with legal protections and have contributed to a freeze on Delfin dividends.
Del Vecchio said he would continue to uphold his father’s wishes and pursue legal proceedings to settle the inheritance.
Leonardo Maria Del Vecchio criticized EssilorLuxottica CEO Francesco Milleri over the company’s 50% decline.
In an interview on Fedez’s Pulp Podcast, Del Vecchio said Milleri should be more concerned about the company’s performance.
He said he stepped back from the group because of its results and because he did not want to publicly support a company where salaries were being frozen.
Del Vecchio attributed the stock-market decline to the end of the “long wave” of his father’s influence and a lack of adequate vision afterward.
He also discussed a dispute over €300 million in bequests in his father’s will, which he said had contributed to a blockage of Delfin dividends.
- Who
- Leonardo Maria Del Vecchio criticized EssilorLuxottica CEO Francesco Milleri.
- What
- Del Vecchio said the company’s 50% decline reflected inadequate leadership vision and explained why he stepped back from the group.
- When
- The interview was published on October 12, 2026; the interview date is not stated.
- Where
- On Fedez’s Pulp Podcast.
- Why
- Del Vecchio said he could not support a company whose manager had delivered a 50% decline and where salaries were being frozen.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Company decline
- 50%
- CEO criticized
- Francesco Milleri
- Podcast
- Pulp Podcast, hosted by Fedez
- Bequests in dispute
- €300 million
What people are saying
he who loses 50% should be a little more concerned, given that he is the manager of a public company
When he was delivering results, I was his biggest supporter. You lose 50%? I went home.
the long wave of my father is over. After that, there evidently wasn’t the right vision.
Sources
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