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EL - EssilorLuxottica SA News Story

€137.12 -2.7  -2.0%

Last Trade - 8:55am

Consumer Cyclicals
Large Cap
Market Cap £52.57bn
Enterprise Value £55.61bn
Revenue £12.39bn
Position in Universe 18th / 849

EssilorLuxottica : 2020 Annual Shareholders’ Meeting: Shareholders adopt all Board resolutions

Thu 25th June, 2020 10:37am
EssilorLuxottica : 2020 Annual Shareholders’ Meeting: Shareholders adopt all Board resolutions

EssilorLuxottica 2020 Annual Shareholders’ Meeting:
Shareholders adopt all Board resolutions

Charenton-le-Pont, France (June 25, 2020 – 11:30 am) – EssilorLuxottica’s Annual Shareholders’ Meeting was held today behind closed doors at the Company’s headquarters in Paris, chaired by Juliette Favre, Director of EssilorLuxottica and President of Valoptec, the association of EssilorLuxottica employee-shareholders.

EssilorLuxottica shareholders were invited to submit their votes prior to the meeting. EssilorLuxottica shareholders approved all the 14 resolutions submitted by the Board of Directors. All presentations, along with answers to the questions sent by shareholders and results of votes are available at, on a dedicated webpage –

Dividend to be discussed by end of year based on the Group’s recovery assessment
As announced in April in order to take the necessary measures to respond to the COVID-19 pandemic and to prepare the Company for recovery, the Board of Directors of EssilorLuxottica has decided not to submit a dividend distribution. In the second half of the year, it will further assess the state of the business and the efficacy of all the measures undertaken to face the pandemic. If the recovery is solid enough, a special dividend payment could be proposed before the end of 2020.

As highlighted in today’s presentations, the Company enjoyed strong momentum and cash flow through its activities in 2019. This provided a solid basis to accelerate on the plan presented at the Capital Markets Day 2019 and deliver the expected synergies. The Company also successfully enhanced its product innovation including e-chromic eyewear and most recently the Ray-Ban complete pair offer with Essilor lenses. It also further digitalized its business and progressed in several integration workstreams.

In the first half of this year, EssilorLuxottica responded to the COVID-19 pandemic by protecting its people and communities, alongside its business. This included heightened health and safety measures across factories, stores and offices, and the launch of a Euro 100 million fund and emergency pay plan to help the most vulnerable employees and their families. To support customers throughout this crisis, EssilorLuxottica developed training and designed a set of recommendations on how to reorganize in-store spaces for increased safety, as well as guidance on the safe use of instruments for eye exams and measurement. The Company also donated more than two million units of personal protective equipment including safety goggles, protective eyewear and face masks to hospitals, public institutions, employees and partners in the various countries in which it operates. These include China, Italy, France, Germany, Spain, Portugal, the United States, Brazil, Colombia, Israel, Australia, India, Bangladesh, and many more.

As lockdowns are gradually being lifted across geographies, the Company has reopened all of its factories and most of its stores and has begun to see initial signs of recovery.

Update on the Board of Directors composition
EssilorLuxottica shareholders have ratified the appointment of Paul du Saillant, CEO of Essilor International, as Director of EssilorLuxottica, replacing Laurent Vacherot, who retired earlier in the year.

We want to thank all shareholders for supporting our efforts to lead in the best possible way. Our focus today is two-fold: continue to drive our business with the necessary safety measures for our people and our customers, while accelerating our recovery and catching new opportunities. I am proud of the decisions that we made and the way our management and our teams have executed our strategy. In the face of adversity, we have shown what we are truly made of,” commented Leonardo Del Vecchio, Executive Chairman of EssilorLuxottica.

The engagement of our people and the agility of our operations illustrate the strength of our mission. The Company’s commitment to helping its customers and communities demonstrates its unfailing support not only to the industry, but also to populations in need everywhere in the world. In an industry that has once again proven resilient, together we are doing all that is needed so the Company can continue to play its role and deliver on its mission,” added Hubert Sagnières, Executive Vice-Chairman of EssilorLuxottica.

To read today’s message to shareholders by the Executive Chairman and Executive Vice Chairman, click here.

EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux® and Transitions®, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family.
In 2019, EssilorLuxottica had over 150,000 employees and consolidated revenues of Euro 17.4 billion.
The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.


EssilorLuxottica Investor Relations
(Charenton-le-Pont) Tel: + 33 1 49 77 42 16
(Milan) Tel: + 39 (02) 8633 4870
EssilorLuxottica Corporate Communications
(Charenton-le-Pont) Tel: + 33 1 49 77 45 02
(Milan) Tel: + 39 (02) 8633 4470


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