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EssilorLuxottica Is Said to Face Call for Governance Change

  • Loeb’s firm has stake of about 1.2% and may buy more
  • EssilorLuxottica is trying to solve internal feud after merger
Essilor International SA To Buy Ray-Ban Maker Luxottica Group SpA For About $24 Billion
Photographer: Chris Ratcliffe/Bloomberg
Updated on

Activist investor Dan Loeb plans to call for governance changes at Ray-Ban maker EssilorLuxottica SA after building a stake in the company, according to people familiar with the matter.

Loeb’s Third Point has a more than 1.2% holding in the company and aims to help break a stalemate between its Italian and French owners, the people said, asking not to be identified because the matter is private. The two factions have been clashing over governance issues such as naming a chief executive officer.