Skip to content
Nicolesmagicspatula

Nicolesmagicspatula

We know finance

Primary Menu
  • Business News
  • Business Development
  • Business Networking
  • Business Knowledge
  • Finance Companies
  • Finance Analyst
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • SITEMAP
  • Home
  • Ray-Ban owner’s close aide takes reins of business empire, Retail News, ET Retail
  • Business Knowledge

Ray-Ban owner’s close aide takes reins of business empire, Retail News, ET Retail

By Bernadette 1 year ago

[ad_1]

Ray-Ban owner's close aide takes reins of business empireMILAN: Leonardo del Vecchio’s right-hand man on Monday took the reins of the 27 billion euro ($28 billion) holding company left behind by the Italian eyewear billionaire who died last week.

Del Vecchio’s departure raised questions over the fate of some of his assets, in particular his stakes in financial firms Mediobanca and Generali, whose management the 87-year-old magnate had criticised.

Del Vecchio and fellow tycoon Francesco Gaetano Caltagirone in April lost out in a shareholder vote over leadership at Generali, while Mediobanca CEO Alberto Nagel’s position comes up for renewal in late 2023.

Luxembourg-based holding company Delfin on Monday said it had named Del Vecchio’s most trusted aide Francesco Milleri as chairman.

Milleri, 63, started as an IT consultant at Luxottica, the spectacle business Del Vecchio founded in 1961. Last year he became CEO of EssilorLuxottica after playing a key role in the negotiations that led to Luxottica’s merger with French lens maker Essilor.

Following Del Vecchio’s death, Milleri has also taken on the role of EssilorLuxottica’s chairman.

Milleri’s appointment at Delfin suggests there are no major changes in sight over Delfin’s management of its assets, two people with knowledge of the matter said.

Unless they can bridge their differences, Milleri is expected to keep up the pressure on Nagel, a third person close to the matter added.

In a further sign of continuity, Delfin said its Chief Executive Romolo Bardin, another of Del Vecchio’s longstanding associates, would continue in his role.

Shares in Mediobanca and Generali had suffered when Del Vecchio died due to market concerns that his heirs may cash in on the investments.

Del Vecchio had become in recent years the No.1 investor in Mediobanca with 19.4%. He was also the second-biggest shareholder in Italy’s top insurer Generali, behind Mediobanca itself, with 9.8%.

He had considered further raising the Mediobanca stake before the European Central Bank made clear Delfin would have to subject itself to its oversight, a fourth person briefed on the matter said.

Del Vecchio has left his business empire to his six children, his wife Nicoletta Zampillo and her son from a previous marriage.

They now each own 12.5% of Delfin, whose main asset is the 32% stake in EssilorLuxottica, worth some 20 billion euros.

Based on Delfin’s statutes, decision-making effectively requires unanimity because of the necessary 88.5% majority.

In addition to the stakes in EssilorLuxottica, Mediobanca and Generali, Delfin also owns 27% of Paris-listed Covivio and is a long-time investor in bank UniCredit with a 2% stake.

Zampillo, whom Del Vecchio remarried in 2010 after divorcing her a decade earlier, was originally expected to inherit Del Vecchio’s 25% stake in Delfin.

The opening of Del Vecchio’s will on Saturday showed that her son Rocco Basilico had received half of Del Vecchio’s stake.

Basilico, 32, is head of wearable technologies at Luxottica.

As head of Luxottica’s Californian brand Oliver Peoples, Basilico was instrumental in introducing Del Vecchio to Facebook founder Mark Zuckerberg.

The encounter led to the 2020 partnership between Facebook and EssilorLuxottica and the launch, in September 2021, of Ray-Ban Stories, smart glasses starting at $299 provided with a camera, speakers and microphones for calls and videos.



[ad_2]

Source link

Tags: Amazon Fba Business, Atlanta Business Chronicle'S, Boss Baby Back In Business, Business Administration Degree, Business Attire Women, Business Card Design, Business Cards Templates, Business Casual Dress, Business Casual Outfits, Business Checking Account, Business Credit Card, Business For Sale Near Me, Business Intelligence Platform, Business Lawyer Near Me, Business Loan Calculator, Business Name Ideas, Business Professional Women, Business Spectrum Login, California Business Entity Search, Capital One Spark Business, Carl Weber'S The Family Business, Charlotte Business Journal, Custom Business Cards, Delaware Business Search, Fl Sos Business Search, Florida Business Search, Harvard Business Publishing, Insurance For Small Business, Kelley School Of Business, Maryland Business Express, Maryland Business Search, Moo Business Cards, National Business Furniture, New York Business Search, Ohio Business Gateway, Onedrive For Business, Online Business Ideas, Paramore Misery Business, Risky Business Cast, Small Business Insurance, Spectrum Business Customer Service, Tom Cruise Risky Business, Us Small Business Administration, Verizon Wireless Business, Verizon Wireless Business Login, Virtual Business Address, What Is Business Administration, Women'S Business Casual, Yelp Business Login, Yelp For Business

Continue Reading

Previous Are we in Schrodinger’s Recession?
Next Everything is Bigger in Texas — Even Insights Marketing Day!
October 2023
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Sep    

Archives

BL

Recent Posts

  • 7 Mistakes Built by Investors
  • Securing a Small Business enterprise Mortgage
  • 15 Enterprise Ideas You Can Steal From Apple
  • Hedge Fund Jobs – 3 Easy Methods For Securing a Hedge Fund Job
  • How Related Are Small Businesses and Existing Financial Management Theories and Concepts?
Intellifluence Trusted Blogger

Tags

Amazon Fba Business At&T Business Login Atlanta Business Chronicle'S Boss Baby Back In Business business Business Administration Degree Business Attire Women Business Card Design Business Cards Templates Business Casual Dress Business Casual Outfits Business Checking Account Business Credit Card Business For Sale Near Me Business Intelligence Platform Business Lawyer Near Me Business Loan Calculator Business Name Ideas Business Professional Women Business Spectrum Login California Business Entity Search Capital One Spark Business Carl Weber'S The Family Business Charlotte Business Journal Custom Business Cards Delaware Business Search enterprise Florida Business Search Fl Sos Business Search Harvard Business Publishing Insurance For Small Business Kelley School Of Business Maryland Business Express Maryland Business Search Moo Business Cards National Business Furniture New York Business Search Ohio Business Gateway Onedrive For Business Online Business Ideas Paramore Misery Business Risky Business Cast Small Business Insurance Spectrum Business Customer Service Tom Cruise Risky Business

getlinko

nicolesmagicspatula.com | Magazine 7 by AF themes.

WhatsApp us