Luxottica Co-CEO Khan Resigns, Replaced by Founder Del Vecchio

  • Board approves simplification of management structure
  • Maker of Ray-Bans posted $9.6 billion in sales for 2015

Luxottica Group SpA said co-Chief Executive Officer Adil Mehboob-Khan resigned, to be replaced by founder Leonardo Del Vecchio, as the board of directors approved a simplification of its structure, the company said in a statement late Friday.

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