Leonardo Del Vecchio, chairman and majority shareholder of Luxottica Group, has allocated shares held through Leonardo Finanziaria, his company's holding company, to a stock options plan for the group's senior management. The shares represent only 2.11 percent of Luxottica's share capital, way below the figures previously reported in the Italian press. Meanwhile, Luxottica Group has increased the number of its independent directors from three to five, following the election of Sergio Erede and Gianni Mion to the board. Erede is a lawyer who co-founded the Bonelli, Erede & Pappalardo law firm in 1969, while Mion is CEO of Edizione Holding, the investment company of Benetton Group. The shareholders' meeting also elected Andrea Guerra, Luxottica's newly appointed CEO, to the board, bringing the overall number of directors ? both independent and non-independent ? up to 12. Separately, the group has launched a review of its internal control system.