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replica oakleys It will also have a complex governance structure, with Del Vecchio and Essilor Chairman and CEO Hubert Sagnieres effectively sharing the driving seat, while the 16 strong board will have an even split of Essilor and Luxottica executives.A source close to the deal said no arrangements had been made at this stage for when Del Vecchio will retire.Del Vecchio, who returned to the helm of Luxottica two years ago after taking a back seat for the previous 10 years, will be CEO and executive chairman of the merged group. Sagnieres, 61, will serve as executive vice chairman and deputy CEO, but he and Del Vecchio will have the same powers.In a conference call with analysts, the two sought to play down concerns over the co leadership.“We have and share the same values, we have and share the same vision, we have and share the same interest in the product. If we really want to provide consumers with the best product, Leonardo and I will have to co manage,“ Sagnieres said.Del Vecchio, who grew up as an orphan but is now Italy’s second richest person, said he had long dreamed of such a merger.“This marriage will take place and will work,“ he said.Luxottica and Essilor, which have a market value of about 24 billion euros and 22 billion euros respectively, had explored a possible tie up a few years ago.Luxottica said in September 2014 that discussions had taken place in 2013 but were dropped for a number of reasons, including shareholding governance issues.A source close to the deal said that the two companies’ business models, operations and strategy have converged since then and that the merger makes more sense now, given growing competition replica oakleys.