Asset managers unite for iNed push at eyewear firm

Leadership crisis

Mike Sheen
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EssilorLuxottica owns the Ray-Ban brand of designer sunglasses
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EssilorLuxottica owns the Ray-Ban brand of designer sunglasses

Legal & General, Fidelity International and Baillie Gifford are among asset managers joining forces to secure the election of new independent non-executive directors (iNeds) at eyewear multinational EssilorLuxottica (EL), which is currently embattled in a governance crisis.

The asset managers are backing a resolution to be voted on later this month at EL's AGM, at which executive chairman Leonardo Del Vecchio and co-chief executive Hubert Sagnières are set to clash, according...

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