Essilor International’s Board of Directors has approved an ambitious plan to promote employee shareholding, with the long-term objective to see 50% of employees worldwide become shareholders of the company.
Essilor is today launching an international plan to promote and expand employee shareholding around the world, in order to consolidate and further develop its employees’ involvement in the Group’s growth and success. Through the plan, Essilor aims to allow 50% of its employees to own shares in the company, compared to 20% currently.
This ambition to grow and further strengthen the Group’s shareholding culture extends to every country in which Essilor operates and all employees, regardless of their job status.
“In order to uphold Essilor’s strong culture, we want to encourage the long-term commitment of our employees worldwide through employee ownership, which is one of our great strenghts”, says Hubert Sagnières, Essilor’s Chairman and Chief Executive Officer. “Our goal of reaching 50% of employee shareholders is in line with that ambition. The continuous and sustainable growth of the Company is founded on the strength of our mission – Improving lives by improving sight – and on our desire to share the value generated by Essilor as widely as possible. Our employees’ participation in Essilor’s share capital ensures that their interests are aligned with those of the shareholder community as a whole.“
Employee shareholding is one of Essilor’s core principles, a pillar of its success and key to its sustainability. Employees have always been Essilor’s largest shareholder, and currently own more than 8% of its share capital. Three directors representing employee shareholders currently sit on Essilor’s Board of Directors. The company is also committed to enhancing the financial knowledge of all its employees, regardless of their position in the company or their geographical location.
A majority of Essilor’s employee shareholders are members of Valoptec Association which contributes to the Group’s long term growth, participates in its governance and supports its values and mission. Valoptec Association members meet every year for a vote of confidence on Essilor’s strategy and human resource policy.