This policy is fundamental to our culture and has been a key factor in our performance since the very beginning. This employee shareholding culture continues to be a key feature of the newly combined Group. The significant level of employee shareholding boosts the Company’s competitiveness and is a source of pride among all our employees who have the opportunity to be fully engaged in creating value and achieving success for the Group as a result of their substantial stake in its share capital.
In keeping with EssilorLuxottica’s employee culture and governance model, Valoptec Association, a independent association representing current and former EssilorLuxottica employee shareholders, represents all of the new Group’s employee shareholders on EssilorLuxottica’s Board of Directors. This atypical form of governance, built on trusted dialog with the Company’s management team, aims to encourage the involvement of our employees in defining the Company’s strategy.
Following the success of Boost (the international employee shareholding plan offered to Essilor International employees) in 2017 and 2018, EssilorLuxottica launched the new Group’s first employee shareholding initiative in 2019. This international plan has gradually enabled Luxottica employees to co-invest in the Company by buying Group shares on advantageous terms.