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Stock Market & Financial Investment News

News Breaks
March 25, 2013
09:00 EDTLUXLuxottica falls 2.3%
Luxottica is down 2.3%, or $1.19, to $50.60
News For LUX From The Last 14 Days
Check below for free stories on LUX the last two weeks.
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September 4, 2014
06:16 EDTLUXLuxottica's returning CEO says 'embarrassedí by Google Glass, FT reports
Luxottica's (LUX) founder and returning CEO Leonardo Del Vecchio told the Financial Times earlier this week that he has not used Google Glass (GOOG) and that it would "embarrass [him] going around with that on my face." Luxottica signed a deal with Google earlier this year to develop the $1,500 interactive headset. Reference Link
September 3, 2014
07:11 EDTLUXLuxottica returning CEO has eyes on growth, M&A, FT says
Leonardo Del Vecchio, the returning CEO of Luxottica, has set doubling the groupís revenues over the next decade as a goal, with much of the desired revenue increase seen coming from organic growth, but also expects to continue to do acquisitions, reported Financial Times, citing an interview with the executive. Del Vecchio noted he would target companies that do not cannibalize its existing operations, stating, "We would buy a chain that does something different for us." Reference Link
September 2, 2014
05:34 EDTLUXLuxottica says Andrea Guerra leaves as CEO
Luxottica yesterday announced the introduction of a new management structure based on a co-CEO model; one focused on Markets and the other dedicated to Corporate Functions. "The evolution to a co-CEO leadership structure with distinct and complementary responsibilities will ensure stronger management of the Group, which has rapidly increased its size, complexity and global presence in recent years," the company said. Enrico Cavatorta, current General Manager and CFO of the Group, was appointed CEO of Corporate Functions. He was also named as Interim CEO of Markets, pending the appointment of a permanent executive to this position. Operations, led by Massimo Vian, will temporarily report to the Chairman, Leonardo Del Vecchio. An Executive Committee, led by the Chairman, will be created. "The appointment of Enrico Cavatorta ensures the promotion of internal managerial excellence and provides the necessary strategic continuity. At the same time, the forthcoming appointment of an external co-CEO will introduce fresh energy and expertise in an important phase of evolution for the Group," it added. Luxottica explained, "Following a period of debate with Chairman Leonardo Del Vecchio over the Groupís future strategy and direction, Andrea Guerra leaves as Group CEO after a 10-year period of organizational consolidation and managerial growth." Luxottica confirmed its "strategic priorities to guarantee sustainable long-term growth, with increased focus on return on investment and on further improving efficiency."

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