EssilorLuxottica expands employee shareholding reaching a record high
- 44% of the Company’s employees are now shareholders following the successful 2020 international employee shareholding initiative
- EssilorLuxottica’s continued commitment towards employee shareholding has been awarded the ‘Grand Prix FAS 2020’ in France
Charenton-le-Pont, France (February 4, 2021) – EssilorLuxottica today announced the results of its 2020 international employee share ownership campaign (“Boost 2020”), increasing its employee shareholding to a record high of 44% at Company level. Recognizing its long-term commitment towards promoting employee shareholding, EssilorLuxottica has also been awarded with the “Grand Prix FAS 2020" by the French Federation of Employee Shareholder Associations (FAS).
Following the success of “Boost 2020”, a total of approximately 63,000 EssilorLuxottica employees in 81 countries now hold a financial stake in the Company, up from near 56,000 employees in 2019, representing an increase of approximately 13%. In addition, more than 10,000 EssilorLuxottica employee retirees are also shareholders showing their engagement and confidence in the Group.
Despite the challenging context of the past year, the subscription rate in Boost 2020 reached over 62% of eligible employees, which is considerably above the 2019 market average of 20%1 and well in line with the previous “Boost” initiatives. Specific plans rolled-out at local level complemented the global initiative and contributed to its overall success, in particular the French “Plan d'Epargne d'Entreprise” (P.E.E. or employee savings plan), with a record amount invested.
These results illustrate both EssilorLuxottica employees’ desire to contribute to the Company’s long-term development and value creation and their dedication to the Company’s mission to help people see more, be more and live life to its fullest.
The continued expansion of employee shareholding across EssilorLuxottica represents another major step in the integration of the combined Company and was recognized by the “Grand Prix FAS 2020” at the 16th edition of the French Grand Prix FAS Employee Shareholding Awards on February 2, 2021. This award acknowledges the Company’s leadership and continued commitment in the area of employee shareholding, a cornerstone of EssilorLuxottica’s governance model and long-term strategy.
“At EssilorLuxottica, we believe that employee shareholding is the best way to strengthen our employees’ commitment to both our mission and strategy, aligning their interests with those of the Company and its other shareholders and driving collective success. We feel honored to be recognized for our long-term approach and commitment in the field of employee shareholding by the French Federation of Employee Shareholder Associations”, commented Francesco Milleri and Paul du Saillant, CEO and Deputy CEO of EssilorLuxottica, respectively."
1 Source: “2019 Barometer of Employee Shareholding” by Amundi ESR