Luxottica CEO resigns after 6 weeks

Milan, Italy-– Enrico Cavatorta, who accepted the role of CEO at global eyewear manufacturer/retailer Luxottica Group in September 2014, has resigned due to what the company termed disagreements with corporate governance structure. Board member Roger Abravanel also resigned for the same reason.



Leonardo Del Vecchio, 79, chairman and founder of Luxottica, will serve as interim CEO until a permanent replacement is found. Cavatorta replaced former CEO Andrea Guerra, who left after a 10-year tenure that saw Luxottica rise to global prominence. Del Vecchio will serve as CEO until Luxottica names a CEO of foreign markets. At that time, current COO Massimo Vian will be named as co-CEO. Both Guerra and Cavatorta left the company as Del Vecchio has been taking a more prominent role in day-to-day decision making.



Upon request of the board, Cavatorta will keep his role of officer responsible for preparing the company’s financial reports until the approval of third quarter results on Oct. 29, 2014. Net income is expected to rise 10%.