Angel Doris
MILAN – Internal turmoil surrounding the succession of the late Leonardo Del Vecchio's fortune, founder of eyewear giant EssilorLuxottica, has resurfaced after Francesco Milleri, CEO of Essilux and Delfin, openly expressed his confusion regarding Leonardo Maria Del Vecchio. Milleri urged that the succession process be promptly concluded, a statement underscoring the urgency of stability in the leadership of one of the world's largest conglomerates in 2026.
Milleri's statement, recorded in an exclusive interview, was quite provocative. He declared, 'I do not understand Leonardo Maria, the succession must be closed.' This remark indicates significant tension or disagreement within the family or management circle regarding the direction and resolution of the late Del Vecchio's legacy.
Leonardo Del Vecchio, one of Italy's most visionary businessmen, left behind a complex business empire, including a majority stake in EssilorLuxottica and control over Delfin, his family's holding company. The process of asset distribution and strategic direction after his passing has been the subject of intense discussion and, now, a source of more apparent discord.
As CEO of both EssilorLuxottica and Delfin, Francesco Milleri's position is pivotal in ensuring the operational continuity and long-term strategy of the companies. His insistence on closing the succession swiftly reflects the need for clear governance and decision-making unhindered by internal family dynamics.
Milleri also did not fail to appreciate the hard work of the board of directors and managers. 'Thanks to the Board of Directors and the managers, there is great confidence in the future,' he stated, indicating that despite the succession issues, the company's operational foundations remain strong, and the management team has a clear vision.
These comments are not merely personal grievances but rather strategic declarations that could influence market perception of EssilorLuxottica and Delfin. Investors and analysts tend to seek certainty, especially for an entity as large and globally reaching as EssilorLuxottica.
The threat of succession uncertainty in family-owned businesses often hinders growth and innovation. In the dynamic global economic context of 2026, delays in crucial decisions could prove detrimental to a company's competitiveness.
The Del Vecchio succession process involves billions of euros in assets and shareholdings in various other prominent European companies. This complexity demands a swift and wise resolution to avoid unnecessary speculation and potential market volatility.
Milleri's statement can also be seen as an effort to apply positive pressure on the relevant parties, especially Leonardo Maria, to reach an agreement or clarity promptly. Sustainable and solid leadership is key to maintaining the momentum of EssilorLuxottica's continuous growth.
Stability at the executive leadership level is vital for multinational corporations like EssilorLuxottica. Consistent vision and strategy enable the company to adapt quickly to market changes and maintain its position as a global industry leader.
While Milleri did not specify what he 'does not understand' about Leonardo Maria, the statement is sufficient to spark public questions about the behind-the-scenes dynamics. Transparency and a firm resolution will be crucial factors in preserving reputation and stakeholder trust.
This situation highlights a common challenge faced by many large family businesses upon the passing of their founders. Leadership transitions and estate management often become battlegrounds between personal interests and business continuity. This article is relevant to business stability in Italy as a whole.
Editorial Insight: Francesco Milleri's statement regarding the Del Vecchio succession is a strong signal of a discord that needs immediate resolution. As CEO, Milleri holds a fiduciary responsibility to ensure the company's continuity and value. His urgency reflects the importance of structural clarity for an entity the size of EssilorLuxottica. A transparent and efficient closure of the succession will be a critical indicator for investor confidence and operational stability moving forward. Failure to resolve this issue could create unnecessary long-term uncertainty.
