EssilorLuxottica Société anonyme Management

Management criteria checks 2/4

EssilorLuxottica Société anonyme's CEO is Francesco Milleri, appointed in Dec 2020, has a tenure of 3.92 years. total yearly compensation is €9.79M, comprised of 18.4% salary and 81.6% bonuses, including company stock and options. directly owns 0.099% of the company’s shares, worth €106.24M. The average tenure of the management team and the board of directors is 3.9 years and 3.5 years respectively.

Key information

Francesco Milleri

Chief executive officer

€9.8m

Total compensation

CEO salary percentage	18.4%
CEO tenure	3.9yrs
CEO ownership	0.1%
Management average tenure	3.9yrs
Board average tenure	3.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Francesco Milleri's remuneration changed compared to EssilorLuxottica Société anonyme's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	€2b
Mar 31 2024	n/a	n/a	€2b
Dec 31 2023	€10m	€2m	€2b
Sep 30 2023	n/a	n/a	€2b
Jun 30 2023	n/a	n/a	€2b
Mar 31 2023	n/a	n/a	€2b
Dec 31 2022	€7m	€2m	€2b
Sep 30 2022	n/a	n/a	€2b
Jun 30 2022	n/a	n/a	€2b
Mar 31 2022	n/a	n/a	€2b
Dec 31 2021	€8m	€1m	€1b
Sep 30 2021	n/a	n/a	€1b
Jun 30 2021	n/a	n/a	€1b
Mar 31 2021	n/a	n/a	€718m
Dec 31 2020	€58k	n/a	€85m
Sep 30 2020	n/a	n/a	€40m
Jun 30 2020	n/a	n/a	-€6m
Mar 31 2020	n/a	n/a	€536m
Dec 31 2019	€2m	n/a	€1b
Sep 30 2019	n/a	n/a	€1b
Jun 30 2019	n/a	n/a	€1b
Mar 31 2019	n/a	n/a	€1b
Dec 31 2018	€31k	n/a	€1b

Compensation vs Market: Francesco's total compensation ($USD10.25M) is above average for companies of similar size in the Italian market ($USD3.20M).

Compensation vs Earnings: Francesco's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Francesco Milleri (65 yo)

3.9yrs

Tenure

€9,785,650

Compensation

Mr. Francesco Milleri has been Chief Executive Officer at EssilorLuxottica Société anonyme since December 17, 2020 and is Chairman from June 28, 2022. He serves as Chairman of Salmoiraghi & Viganò. Mr. Mil...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Francesco Milleri	Chairman & CEO	3.9yrs	€9.79m	0.099% € 106.2m
Paul du Saillant	Deputy CEO & Director	3.9yrs	€5.47m	0.081% € 86.7m
Stefano Grassi	Chief Financial Officer	3.5yrs	no data	no data
Marco Catalani	Head of Corporate Communications	no data	no data	no data
Giorgio Iannella	Co-Head of Investor Relations	no data	no data	no data

3.9yrs

Average Tenure

65yo

Average Age

Experienced Management: 1EL's management team is considered experienced (3.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Francesco Milleri	Chairman & CEO	6.1yrs	€9.79m	0.099% € 106.2m
Paul du Saillant	Deputy CEO & Director	4.7yrs	€5.47m	0.081% € 86.7m
Andrea Zappia	Independent Director	3.5yrs	€130.00k	0.00044% € 471.7k
Marie-Christine Coisne-Roquette	Independent Director	3.5yrs	€100.00k	0.00022% € 235.8k
Swati Piramal	Independent Director	3.5yrs	€125.00k	0.00023% € 246.6k
Jean-Luc Biamonti	Lead Independent Director	3.5yrs	€169.17k	0.00037% € 396.6k
Romolo Bardin	Non-Independent Director	6.1yrs	€141.25k	0.0034% € 3.7m
Mario Notari	Non-Independent Director	2.4yrs	€90.00k	0.00045% € 482.4k
Nathalie von Siemens	Independent Director	3.5yrs	€100.00k	0.00022% € 235.8k
Cristina Scocchia	Independent Director	6.1yrs	€121.25k	0.00022% € 235.8k
Jose Gonzalo	Independent Director	3.5yrs	no data	0.00022% € 235.8k
Virginie Pitre	Non Independent Director	2.8yrs	€115.00k	0.0024% € 2.6m

3.5yrs

Average Tenure

60.5yo

Average Age

Experienced Board: 1EL's board of directors are considered experienced (3.5 years average tenure).

EssilorLuxottica Société anonyme Management

Management criteria checks 2/4

Key information

Recent management updates

Essilorluxottica Société Anonyme Announces Appointment of Jean-Luc Biamonti as Lead Director

EssilorLuxottica Société anonyme, Annual General Meeting, May 17, 2023

EssilorLuxottica Announces Management Changes

EssilorLuxottica Announces Demise of Leonardo Del Vecchio, Chairman

Recent updates

EssilorLuxottica Société anonyme (ENXTPA:EL) completed the acquisition of 80% stake in Heidelberg Engineering GmbH.

Now 20% undervalued

Now 20% undervalued

EssilorLuxottica Société anonyme (ENXTPA:EL) entered into an agreement to acquire Optical Investment Group S.A. from Innova/6 a fund managed by Innova Capital Sp. z o.o. and a group of individual minority shareholders.

First half 2024 earnings released: EPS: €3.02 (vs €3.06 in 1H 2023)

EssilorLuxottica Société anonyme (ENXTPA:EL) entered into a definitive agreement to acquire Supreme Holdings, Inc. from V.F. Corporation (NYSE:VFC) for $1.5 billion.

EssilorLuxottica Société anonyme (ENXTPA:EL) entered into a definitive agreement to acquire Supreme Holdings, Inc. from V.F. Corporation (NYSE:VFC) for $1.5 billion.

New minor risk - Shareholder dilution

New minor risk - Shareholder dilution

Now 20% overvalued after recent price rise

EssilorLuxottica Société anonyme Approves Final Dividend for the Year Ended on December 31, 2023, Payable on June 3, 2024

Upcoming dividend of €3.95 per share

Marcolin's Main Shareholder PAI Partners Reportedly Seeks Buyer

Full year 2023 earnings released: EPS: €5.11 (vs €4.87 in FY 2022)

Full year 2023 earnings released: EPS: €5.11 (vs €4.87 in FY 2022)

Essilorluxottica Société Anonyme Proposes Dividend for the Year 2023

Essilorluxottica Société Anonyme Proposes Dividend for the Year 2023

Man Sues EssilorLuxottica , Macy’s over False Imprisonment, Sexual Assault

EssilorLuxottica Société anonyme to Report First Half, 2024 Results on Jul 25, 2024

New minor risk - Shareholder dilution

Meta Platforms, Inc. and EssilorLuxottica Introduces Next Generation of Smart Glasses

EssilorLuxottica Announces Launch of Helix

Now 21% undervalued

First half 2023 earnings released: EPS: €3.06 (vs €2.67 in 1H 2022)

EssilorLuxottica to Expand into the Hearing Solutions Market with New Disruptive Technology At the Intersection of Hearing Solutions Market

EssilorLuxottica Declares Dividend for the Financial Year Ended on December 31, 2022

Essilorluxottica Société Anonyme Announces Appointment of Jean-Luc Biamonti as Lead Director

Upcoming dividend of €3.23 per share at 1.7% yield

EssilorLuxottica Société anonyme, Annual General Meeting, May 17, 2023

Now 22% undervalued after recent price drop

EssilorLuxottica Société anonyme (ENXTPA:EL) acquired 50% stake in Shamir Optical Industry, Ltd. from Shamir Optica Holdings A.C.S. Ltd.

First half 2022 earnings released: EPS: €2.67 (vs €1.95 in 1H 2021)

Now 20% undervalued after recent price drop

EssilorLuxottica Announces Management Changes

EssilorLuxottica Announces Demise of Leonardo Del Vecchio, Chairman

Now 21% undervalued after recent price drop

Now 20% undervalued

Essilorluxottica Société Anonyme Approves the Payment of the Dividend, Payable on June 21, 2022

Upcoming dividend of €2.51 per share

Now 22% undervalued after recent price drop

Optic Retail International Group BENE completed the acquisition of 142 EyeWish stores in the Netherlands and 35 GrandOptical stores in Belgium from EssilorLuxottica Société anonyme (ENXTPA:EL), GrandVision N.V. (ENXTAM:GVNV).

Now 20% undervalued after recent price drop

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

EssilorLuxottica Société anonyme (ENXTPA:EL) completed the acquisition of The Walman Optical Company Inc.

EssilorLuxottica Société anonyme to Report Fiscal Year 2021 Results on Mar 11, 2022

Optic Retail International Group BENE entered into an agreement to acquire 142 EyeWish stores in the Netherlands and 35 GrandOptical stores in Belgium from EssilorLuxottica Société anonyme (ENXTPA:EL), GrandVision N.V. (ENXTAM:GVNV).

First half 2021 earnings released: EPS €1.95 (vs €0.94 loss in 1H 2020)

EssilorLuxottica Announces Favorable Outcome of the Arbitration Confirming Material Breaches by Grandvision

Representative Director of Delfin has left the company

Independent Director has left the company

Non-Executive Vice-Chairman Hubert Sagnières has left the company

Essilorluxottica Société Anonyme Approves the Payment of the Dividend, Payable on June 21, 2021

Upcoming dividend of €1.08 per share

Full year 2020 earnings released: EPS €0.20 (vs €2.48 in FY 2019)

New 90-day high: €141

EssilorLuxottica Reportedly Offers to Sell Assets in Three EU Countries

New 90-day high: €131

EssilorLuxottica Société anonyme (ENXTPA:EL) and The Cooper Companies, Inc. (NYSE:COO) agreed to acquire SightGlass Vision from The Cooper Companies, Inc. (NYSE:COO).

New 90-day high: €131

New 90-day high: €130

New 90-day high: €121

EssilorLuxottica SociÃ©tÃ© anonyme to Report First Half, 2021 Results on Jul 30, 2021

EssilorLuxottica Société anonyme to Report Fiscal Year 2020 Results on Mar 12, 2021

New 90-day low: €108

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age