Asset managers unite for iNed push at eyewear firm

Leadership crisis

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

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...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Equities

Bullish outlook in January

Fund managers bank on global reopening in bullish outlook beyond Covid

71% anticipate 'boom'

clock 18 January 2022 • 3 min read
Abhi Chatterjee of Dynamic Planner

Deep Dive: Feeling of déjà vu about UK equities

Tech companies just 5% of UK index

Abhi Chatterjee
clock 14 January 2022 • 3 min read
Amanda Burdge of Quantum Advisory

Deep Dive: Reasons to consider UK equity allocation

UK equities have lagged

Amanda Burdge
clock 14 January 2022 • 3 min read