EssilorLuxottica’s board has released a new slate of candidates for the board of directors that will be proposed to shareholders at the forthcoming annual general meeting (AGM).

The company’s representatives are Leonardo Del Vecchio, Francesco Milleri, Paul du Saillant, Romolo Bardin, and Juliette Favre.

The candidates for the seats of independent directors are Jean-Luc Biamonti, Marie-Christine Coisne, José Gonzalo, Swati Piramal, Cristina Scocchia, Nathalie von Siemens and Andrea Zappia.

Gonzalo represents the French investment bank Bpifrance which bought a stake in EssilorLuxottica through the fund Lac 1. Details about the investments were not available. Bpifrance indicated that the move is in line with Lac’s strategy to focus on companies “with a strong potential for value creation and attentive to societal issues.”

The slate does not include Hubert Sagnières, the current vice chairman of the company, who is stepping down.

The mandates of the directors representing employees, currently held by Delphine Zablocki and Léonel Pereira Ascencao, expire on Sept. 20, 2021 and are not up for immediate renewal.

The company announced that any other resolutions to be presented to the AGM will be decided during a board meeting in March.

At the end of 2020, EssilorLuxottica reorganized its governance due to Sagnières’ decision to retire. Sagnières and Leonardo Del Vecchio relinquished their executive powers but remained vice chairman and chairman respectively. Meanwhile, the company appointed Francesco Milleri as CEO and Paul Du Saillant as deputy CEO. The current management structure remains valid until the AGM.