MILAN Aug 25 The board of Italy's Luxottica
will discuss on Sept. 1 the future of Chief Executive
Andrea Guerra, who is expected to leave the world's biggest
luxury eyewear maker following disagreement with owner Leonardo
The group said in a statement on Monday the board would
discuss management structure and Guerra's position. The meeting
will be followed by a conference call for analysts and
investors, Luxottica said.
Three sources close to the matter told Reuters last week
that Guerra, one of Italy's most-respected executives, was set
to leave after clashing with Luxottica's founder and Chairman
The company confirmed last week the two had been sparring
over strategy for some time.
Shares in Luxottica have lost 3 percent since press rumours
of Guerra's exit first emerged on Aug. 20, against a 3.7 percent
rise in Italy's blue-chip stock index over the same
A source with direct knowledge of the matter said last week
that General Manager and Chief Financial Officer Enrico
Cavatorta would take the helm of the company flanked by Del
Vecchio, whose executive powers would be strengthened.
The company was also looking to hire an external executive
for its top management team, the source said.
Del Vecchio, 79 and one of Italy's wealthiest men, has been
chairman of Luxottica since he founded it in 1961 and owns 66.5
percent of the group.
(Reporting by Valentina Za; Editing by Lisa Jucca)