Essilor announced today that employee shareholding worldwide is expected to reach around 65% 1, a 10% increase compared with a year ago. More than 45,000 Essilor employees in 58 countries now hold a financial stake in EssilorLuxottica, born following the successful combination of Essilor and Luxottica on October 1st, 2018. After the success of its employee shareholding plan in 2017, Essilor launched “Boost 2018”, a wider employee share ownership initiative. With a subscription rate at a record level of 66 %, the Company’s latest initiative enabled more than 35,000 Essilor employees in over 40 countries to become shareholders of the Group or to increase their participation.
Employee shareholding has been a fundamental element of Essilor’s culture and a key factor of its performance since its origins. The Company has launched an employee shareholding plan every year for the past 30 years. The purpose of employee shareholding is threefold: to reinforce employees’ sense of commitment to the Group’s mission and strategy; to align their long-term interests with those of the Group and of other shareholders through a shared ambition for a successful business ; and to provide employees with the opportunity to participate in the anticipated value creation and success of the Group through their share ownership. In addition, the Valoptec employee shareholder association, through its 10,000 employee shareholders, actively participates in the Company’s governance.
The Company’s continuous commitment to placing employee shareholding at the core of its governance has been recognized with Essilor winning, for the second year in a row, the Grand Prix at the 14th edition of the French Grand Prix FAS 2 on December 12th, 2018.
Hubert Sagnières, Essilor’s Chairman, declared: “The success of our latest employee shareholding initiative reflects the strong alignment of our employees with our strategy and mission of improving lives by improving sight. Since Essilor’s creation, employee shareholding has been a fundamental pillar of the Group’s culture and central to its unique governance model. Looking ahead, as confirmed during EssilorLuxottica’s first General Meeting , we aim at further expand ing employees’ involvement in the combined Group’s continuous growth story. ”
*Shares will be delivered by end of December. This estimate corresponds to the proportion of Essilor employee shareholders vs. the total number of Essilor employees out of a base of 70 000 employees . 2 French Federation of Associations of Employee and Former Employee Shareholders
About Essilor Essilor International is the world’s leading ophthalmic optics company. Essilor designs manufactures, and markets a wide range of lenses to improve and protect eyesight. Its mission is to improve lives by improving sight. To support this mission, Essilor allocates more than $225 million to research and innovation every year, in a commitment to continuously bring new, more effective products to market. Its flagship brands are Varilux®, Crizal®, Transitions®, EyezenTM, Xperio®, Foster Grant®, BolonTM and Cost a®. It also develops and markets equipment, instruments, and services for eyecare professionals. For more information, please visit www.essilor.com.