Sagnieres to Assume Dual Role as Essilor’s Chairman and CEO

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Hubert Sagnieres
CHARENTON-LE-PONT, France—At its meeting on Nov. 24, the board of directors of Essilor International (Paris:EI) appointed Hubert Sagnieres as chairman and chief executive officer beginning Jan. 2, 2012. Xavier Fontanet, the current chairman, will remain a member of the board of directors.

At Essilor’s May 5, 2011 annual shareholder’s meeting, Fontanet indicated that he thought it was the appropriate time to return to Essilor’s traditional mode of governance by regrouping the functions of chairman and CEO. These responsibilities had been separated on Jan. 1, 2010 following Sagnieres’ nomination as CEO.

The board thanked Fontanet for the 20 years he has devoted to the growth of the company, its international development and the promotion of its values. The board recognized Sagnieres’ contributions during his 22-year career with Essilor, particularly his accomplishments as CEO.