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EssilorLuxottica celebrates record employee shareholding

The number of employee shareholders increased by 13% to approximately 63,000 employees in 81 countries

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EssilorLuxottica has increased its employee shareholding to 44% at company level, a record high for the company.

The announcement comes as a result of EssilorLuxottica’s 2020 international employee share ownership campaign, Boost 2020, in which the number of employee shareholders increased by around 13%.

Following the campaign, approximately 63,000 employees in 81 countries now hold a financial stake in the company, up from nearly 56,000 employees in 2019. An additional 10,000 retired EssilorLuxottica employees are also shareholders.

The subscription rate for Boost 2020 reached over 62% of eligible employees, the company found, and which it said is “considerably above” the 2019 market average of 20%.

Francesco Milleri, CEO of EssilorLuxottica, and Paul du Saillant, deputy CEO, commented: “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.”

The company also suggested the expansion of employee shareholding represents “another major step” in the integration of the business.

EssilorLuxottica’s work to promote employee shareholding was recognised by the French Federation of Employee Shareholder associations at the Grand Prix FAS 2020.

On the recognition, EssilorLuxottica’s leadership team shared: “We feel honoured to be recognised for our long-term approach and commitment in the field of employee shareholding.”

In December, the company announced key governance changes as its executive vice-chairman retired from his role.