The Vision Council introduces new summit series

The Vision Council is proud to introduce their new Summit Series for 2019, facilitated by Bart Foster, strategic advisor to The Vision Council. This series of exclusive events will help feed the growing desire to better the optical industry and individuals’ careers through targeted events for everyone from future forerunners, to C-level executives, to marketing professionals and driven leaders. The Vision Council sees these summits as key to moving the industry forward by providing environments for learning, mentoring and networking.

The series events are as follows:

  • Fast-Track Leadership Summit (April 24–25) – Designed to inspire, motivate and educate future industry leaders, by providing critical tools and techniques to ensure a productive professional career.
  • Optical Innovation Summit (June 5–6) – Focused on interactive, hands-on ideation, where industry leaders will discuss and debate the inevitable changes affecting optical retail.
  • Marketing Insights Summit (Oct. 15–16) – A two-day hands-on session targeting marketing executives in the vision care industry focusing on marketing insights, customer experience, and industry trends.
  • Executive Leadership Summit in partnership with the Aspen Institute (November) – Intended for motivated leaders looking to build upon their skill set for personal and professional development to positively impact and inspire their teams.

The Vision Council aims to harness the energy and passion produced during the annual Executive Summit and develop it into exclusive and unique events offered throughout the year. These events will culminate with the 2020 Executive Summit, which will see an improved structure with the goal of giving participants a more enjoyable and valuable experience and leave with a strong directive for the year ahead.

“We’re so excited to see these events come to fruition throughout the year,” said Ashley Mills, CEO of The Vision Council. “It’s encouraging to see the need and want for these types of gatherings, and as the leading industry trade association, The Vision Council invites the responsibility to facilitate these conversations. We know that change is happening quickly, so we designed these events to help us harness the insights of those leading the transformation and identify opportunity for growth. We invite the leaders of this change to join us and help us craft, together, the future of the industry.”

EssilorLuxottica and Delfin sign settlement agreement

EssilorLuxottica announced that EssilorLuxottica and Deflin S.à.r.l. agreed upon a settlement agreement to overcome the governance issues and set the basis for a renewed start of profound collaboration between Essilor and Luxottica. The agreement settles any existing dispute among the parties.
The Board of Directors of EssilorLuxottica unanimously supported and approved this agreement aimed at immediately making the Group’s structure more efficient and effective from an operational standpoint.
The equal-powers governance, set forth in the Combination Agreement and the Board Rules, is remaining in place until the date of the shareholders’ general meeting to be called in 2021 to approve the financial statements for the year ended December 31, 2020.

According to the agreement:
– Leonardo Del Vecchio and Hubert Sagnières empowered Francesco Milleri (Deputy Chairman – CEO of Luxottica Group) and Laurent Vacherot (CEO of Essilor International) with the responsibility to develop and implement the EssilorLuxottica strategy and integration process, accelerating the simplification of the new Group by integrating the two operating companies within the next 12 to 24 months
– Mr Milleri and Mr Vacherot approved the appointment of key executives for the Group’s central functions
– Mr Vacherot has been appointed as a Director of EssilorLuxottica, replacing Bernard Hours, who has asked to be relieved of his office. He will also become a member of the Board’s Strategy Committee
– The Board confirmed the search for a new CEO. Francesco Milleri and Laurent Vacherot have informed the Board that they are not candidates for this position.

As a result of this agreement, all existing claims will be waived and legal proceedings will be terminated, including the request for arbitration filed by Delfin before the International Court of Arbitration of the International Chamber of Commerce on March 27, 2019.

In light of this agreement, Valoptec decided that it will withdraw the proposal submitted on April 18, 2019 for the appointment, at the Shareholders’ Meeting convened for May 16, 2019, of one additional Director of EssilorLuxottica and will vote against the proposals submitted by certain institutional investors for the appointment of two additional Directors. The representative of Valoptec at the Board of EssilorLuxottica will integrate the Strategic and the Integration Committees of the Company.

As previously stated, the Board recommends that the shareholders vote against all the remaining proposed additional resolutions which, if approved, would result in a clear breach of the Combination Agreement and in a potential disruption for the activities of the Board. “I’m very pleased of this outcome. The industrial rationale of the combination is even stronger when looking at all the opportunities raised during the meetings of the Integration Committee. Today, respecting the equal power and the Combination Agreement, we have found a solution to better execute such strategic combination,” commented Leonardo Del Vecchio, Executive Chairman of EssilorLuxottica.
“With these decisions driving to a more unified company, EssilorLuxottica is well positioned to accelerate its growth in order to achieve its mission: to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations,” added Hubert Sagnières, Executive Vice-Chairman of EssilorLuxottica.

The Vision Council announces:

The Vision Council announces:

President Trump to increase third list of China duties, remaining Chines-origin products threatened with additional tariffs.

President Trump tweeted his intent to raise the China 301 duties from 10 percent to 25 percent, currently being assessed on approximately $200 billion worth of Chinese-origin merchandise. The increase will take effect on Friday, May 10. The increase was originally scheduled for Jan. 1, 2019 but was held in abeyance while the United States and China negotiated on trade issues. These negotiations are ongoing, but the tariff rates will increase unless President Trump retracts his announced plan.

This increase will impact The Vision Council’s member companies importing Chinese-origin hand-held and stand magnifiers, eyeglass cases and cleaning solutions. Additionally, President Trump threatened in this Tweet to begin the process to assess 25 percent duties on all remaining products originating in China. If the administration goes through with this threat, Chinese-origin products such as frames, lenses, sunglasses, reading glasses and low vision devices will be impacted.

The additional 25 percent China 301 duties are assessed in addition to any regular duties already assessed on imported products.

UN road safety week

UN road safety week

Essilor and Groupe Renault pool expertise to better integrate visual specifications to improve drivers’ experience and promote the importance of good vision for road safety. On the occasion of the 5th United Nations Road Safety Week, Essilor and Groupe Renault announced today the signing of a Memorandum of Understanding (MOU) for a period of two years, with the ambition to jointly raise awareness about the importance of good vision for road safety and explore innovative solutions to improve drivers’ visual experience.
As research shows 1 in 5 drivers in the world has uncorrected poor vision and 90% of the information needed to drive comes from vision. The interaction between eyeglasses and the interface systems in the car, both day and night, is obviously crucial. In the near future, this interaction is projected to increase further with the development of smart and connected devices, offering valuable improvements and new customer benefits. In that context, this two-part partnership aims to:
– develop global and local awareness and poor vision detection campaigns among customers and employees of Renault. During this week, specific activations will reinforce past actions begun during Renault Mobilize days and World Sight Day.
– improve the combined vision and driving experience through cross-expertise and product innovation. Expert investigation workshops are developed based on key use cases, including day and night glare, road/cockpit visual transition, peripheral and central attention focus, and Man-Machine Interfaces like legibility and color perception.

“This collaboration with Groupe Renault promises to drive outcomes that will improve people’s vision on the road. We are certain this partnership between two leaders in their field creates a unique opportunity to mobilize public awareness across a broader audience. Combining our respective expertise will result in better visual experience for drivers and contributes to Essilor’s mission of improving lives by improving sight,” said Laurent Vacherot, Chief Executive Officer, Essilor International.