After only one year, Adil Khan is leaving his role as chief executive officer for markets at Luxottica Group SpA and founder and chairman Leonardo Del Vecchio will assume executive responsibilities for the area.
The board of the Italian eyewear giant approved on Friday a simplified organizational structure with a ceo and an executive chairman. Massimo Vian will continue in his role as ceo for product and operations. The two ceo positions had been created on the heels of former ceo Andrea Guerra’s departure in September 2014.
“I’m really grateful to Adil who, with great passion, empathy and professionalism, joined the group in this phase of profound transformation and extraordinary growth,” Del Vecchio said. “His international experience and knowledge of markets and customers have strongly benefited the company and his contributions will have an impact in the years to come. The entrepreneurial spirit and speed of action that have always distinguished Luxottica, bring us today to simplify our organizational structure. My decision to take on executive responsibilities and more actively contribute to Luxottica’s management comes from the awareness that a renewed entrepreneurial spirit is critical today to properly face this new market scenario and to fast-track the evolution in the markets area. This is to guarantee that growth, efficiency and investments remain our long-term priorities. We closed another year of record results and start the new one with great enthusiasm. We are well-equipped to manage a global agenda that is becoming more complex but also full of opportunities.”
The revelation came at the end of trading on Friday, as the group reported adjusted sales in 2015 were up 17 percent, growing to nine billion euros, or $9.99 billion at average exchange rate. At constant exchange, revenues grew 5.5 percent.