Luxottica CEO steps down after clash with founder

Andrea Guerra, the multi-millionaire CEO of Italian eyewear giant Luxottica, has stepped down from his role after serving with the company for over 10 years following differences with the company’s billionaire founder Leonardo Del Vecchio, according to Bloomberg.

It was reported that Guerra and Del Vecchio did not share the same goals and the departure was said to be “without arguments” and “consensual.” Del Vecchio said. Guerra will receive a redundancy payment of €10 million  (US$13 million). He will be replaced by the chief of finance Enrico Cavatorta and a co-chief to be appointed from outside the company.

Andrea Guerra, former CEO Luxottica