A power struggle at the top of the world's largest eyewear-maker EssilorLuxottica that has plunged the recently merged group into crisis has been resolved, the company said Monday. French lens-manufacturer Essilor and Italy's Luxottica, which produces Ray-Ban and Oakley sunglasses, merged in October to create a new global giant in the sector with more than 15 billion euros ($17 billion) in annual sales.
The clash between the group's Italian executive chairman, Luxottica founder Leonard Del Vecchio, and his French deputy and Essilor head Hubert Sagnieres had been roiling behind the scenes until it burst into the open in March.