By Mauro Orru 
 

EssilorLuxottica SA said Monday that it has appointed Paul du Saillant as new chief executive of Essilor, succeeding Laurent Vacherot as he retires.

The Franco-Italian optical company said the appointment is effective immediately, adding that Mr. du Saillant is also taking over co-executive delegate powers previously held by Mr. Vacherot.

EssilorLuxottica said Mr. du Saillant named a 12-member management committee to optimize the integration process between Essilor and Luxottica.

Essilor's board of directors is being simplified to five members from 15 to reduce the overlap with the EssilorLuxottica board of directors.

Meanwhile, EssilorLuxottica said the board of directors decided to postpone the annual shareholders' meeting to June 25 from May 15 due to the coronavirus pandemic.

The company added that the board would decide weather to confirm, reduce or cancel its dividend depending on how the situation evolves.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

March 30, 2020 12:38 ET (16:38 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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