September 1, 2014 / 3:32 PM / 3 years ago

Luxottica CEO Guerra steps down, to be replaced by triumvirate

MILAN, Sept 1 (Reuters) - Italy’s Luxottica said on Monday Chief Executive Andrea Guerra was stepping down from his position and was being replaced by a new management structure comprising three top executives.

In a statement Luxottica said the company would be headed by two CEOs, including current General Manager and CFO Enrico Cavatorta who will be in charge of corporate functions. The second CEO who would be in charge of Markets was in the process of being recruited externally.

An Executive Committee, led by the chairman and founder Leonardo Del Vecchio, will be set up to support the management team, it said.

Del Vecchio said that after the departure of Guerra Luxottica would “continue to be what it has always been.”

“We hope in a solid growth of at least 7 percent per year,” he said.

Reporting by Valentina Za, writing by Stephen Jewkes

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