Luxottica employees in Italy join Group’s global community of internal shareholders for the first time exceeding the average subscription rate
Charenton-le-Pont, France (December 12, 2019) – EssilorLuxottica announced today the results of its International Share Ownership plan (“Boost 2019”) with an outstanding subscription rate of over 67% of eligible employees. After this operation, more than 56,000 EssilorLuxottica employees now hold a financial stake in the Company.
In November this year, EssilorLuxottica introduced the first employee share ownership initiative of the new combined Group, extending it for the first time to 12,000 eligible Luxottica employees in Italy. The plan this year covered no less than 73 countries (vs 43 last year), corresponding to nearly 70,000 employees eligible to subscribe.
This gave Luxottica employees in Italy the opportunity to join more than 48,000 Essilor colleagues worldwide who, since the origins of Essilor and in particular over the past few years, decided to co-invest in the Company by purchasing shares on favorable terms. Embracing the Boost plan for the very first time, Luxottica’s Italian employees already broke records, with a take-up rate of 68%, above the Group’s 2019 average.
A pillar of EssilorLuxottica’s culture, employee shareholding reinforces employees’ sense of commitment to the Company’s mission and strategy, aligning their long-term interests with those of the Group and of other shareholders, and providing them with the opportunity to participate in the anticipated value creation and success of the Group.
The success of Boost 2019 is another step forward in the integration process and construction of EssilorLuxottica, with the Company confirming its long-term commitment to promoting employee shareholding.
“In Luxottica we strongly believe in the value of employee shareholding. Our people can play a more active role in the great industrial plan and be involved in EssilorLuxottica’s development, supporting and sharing the success of a Company that aims to grow and create opportunities for everyone. The success of this initiative makes us very proud and confirms the trust of each of Luxottica’s employees who chose to be part of this journey” commented Francesco Milleri, Deputy Chairman – CEO of Luxottica.
“I am very proud to see the continued success of our share ownership plan. What makes these results even more remarkable is the highly positive response of Luxottica employees decided to join their Essilor colleagues in this global community of internal shareholders in great numbers, seeing the real benefits of owning a stake in their Company. This represents a key milestone in the construction of EssilorLuxottica, reflecting the alignment of employees with the Group’s strategy and its mission to help people ‘see more, be more and live life to its fullest’ ” stated Laurent Vacherot, CEO of Essilor.