Essilor and Delfin announced the signing of an agreement designed to create an integrated player dedicated to visual health and superior consumer experience through a combination of Essilor and Luxottica Group. Luxottica's Executive Chairman, Leonardo Del Vecchio, would serve as Executive Chairman and CEO of EssilorLuxottica. Essilor Chairman and CEO, Hubert Sagnières, would serve as Executive Vice-Chairman and Deputy CEO of EssilorLuxottica with equal powers as the Chairman and CEO.

Leonardo Del Vecchio and Hubert Sagnières would also keep their positions of Executive Chairman of Luxottica and Chairman and CEO of Essilor International, respectively. The EssilorLuxottica Board of Directors would consist of sixteen members: Eight members nominated by Essilor, comprising Hubert Sagnières, two employee representatives, one Valoptec representative and four independent members. Eight members nominated by Delfin, comprising Leonardo Del Vecchio, three Delfin representatives and four independent members.