Business

Leonardo Maria Del Vecchio Steps Down From EssilorLuxottica

By Eva Morletto25 août 2026

The announcement sent shockwaves through Italy’s business and entrepreneurial community. Leonardo Maria Del Vecchio will step down from all of his operational roles within the group on August 31.

In his resignation letter to the board of directors, Leonardo Maria Del Vecchio criticized a management style that had become “distant” and “impersonal,” disconnected from employees who, in his view, should once again take center stage within the company (Shutterstock)

At 31, the son of Leonardo Del Vecchio—founder of Luxottica, who passed away in 2022—serves as president of Ray-Ban and Chief Strategy Officer of EssilorLuxottica. He is thus stepping back from the management of the Franco-Italian giant, though he is not completely disengaging from the company. He remains a major shareholder through the family holding company Delfin.

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A split amid disagreements with Francesco Milleri

The young entrepreneur is the founder’s only son still directly involved at the highest level of EssilorLuxottica. While the official statement released after his departure refers to “new entrepreneurial projects,” disagreements with Francesco Milleri, the company’s CEO and former right-hand man to Leonardo Del Vecchio, appear to have played a role, according to the Italian daily MF-Milano Finanza.

In his resignation letter to the board of directors, Leonardo Maria Del Vecchio criticized a management style that had become “distant” and “impersonal,” disconnected from employees who, in his view, should once again take center stage within the company.

His departure comes amid growing tensions surrounding Delfin, the family holding company that owns 32.4% of EssilorLuxottica and serves as the center of gravity for the empire founded by Del Vecchio.

Delfin at the Heart of Family Tensions

Following Del Vecchio’s death, his shares were divided equally among eight heirs. Leonardo Maria, who holds a 12.5% stake, recently attempted to increase his influence by buying out the shares of certain family members—a move that could have raised his stake to 37.5%. However, the deal reignited tensions among the heirs and, according to reports published by Reuters, appears to have further strained his relationship with Milleri, who is also chairman of Delfin.

In recent years, through his company LMDV Capital, Leonardo Maria Del Vecchio has also developed several independent investments in media, real estate, hospitality, and technology. In particular, he has invested in the Éditoriale Nazionale group, which controls, among others, the Italian newspapers *Il Giorno* and *Il Resto del Carlino*.

For EssilorLuxottica, a leader in the eyewear sector and a major player in the new generation of smart glasses, this departure now raises the question of the future balance of governance between the strategy implemented by Milleri and the influence of a new generation of heirs who are determined to shape the future of the family empire.

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