By Cristina Roca

EssilorLuxottica SA has made changes to the leadership at GrandVision, the business it acquired in a multibillion-dollar deal.

The Franco-Italian optical giant said Friday that GrandVision Chief Executive Stephan Borchert and Chief Financial Officer Willem Eelman are stepping down, effective April 22.

Niccolo Bencivenni will be GrandVision's new finance chief, the company said.

EssilorLuxottica named Massimiliano Mutinelli as its president for optical retail for Europe, the Middle East and Africa, as well as head of GrandVision's Amsterdam corporate offices.

GrandVision's supervisory board will end its mandate on April 22 as part of the company's integration into EssilorLuxottica, it said.

On Thursday, EssilorLuxottica said that it had completed the buyout of the remaining GrandVision shareholders, and that it now held 100% of the business.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

April 19, 2022 01:45 ET (05:45 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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