Ray-Ban heir attacks CEO as €55 billion family feud turns public
The 31-year-old heir to the Ray-Ban fortune publicly accused the company's CEO of losing his way. He resigned in August.
Leonardo Maria Del Vecchio is one of eight heirs to the more than €55 billion ($88 billion) Ray-Ban and Luxottica fortune. He escalated his dispute with Francesco Milleri in a podcast interview.
Leonardo Maria said Milleri, the man his late father trusted to run the company, has lost his way. Leonardo Maria blamed Milleri for a collapse in the share price.
Leonardo Maria resigned as chief strategy officer and Ray-Ban chairman in August. Leonardo Maria criticized the company's lack of vision.
The timing is awkward. Shares rose around 15 per cent last week after strong results.
This strengthened Milleri's position before his reappointment next year. Under Milleri's leadership over 12 years, the company grew from €7 billion to nearly €30 billion in revenue.
The eight heirs have been locked in governance battles since their father's death in 2022. His death split ownership of the holding company.
- More than 55 billion euros
- Fortune size
- 31 years old
- Leonardo Maria's age
- Eight
- Number of heirs
Why it mattersThe feud could distract the company's board and disrupt management of one of the world's largest eyewear makers.
AustraliaNo direct Australian effect yet, but any leadership instability at EssilorLuxottica could affect Ray-Ban product availability and pricing in Australia.
✓ Claims checked against the source. checked 2 h ago
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