Australia's Leading Ophthalmic Magazine Since 1975

     Free Sign Up     

Australia's Leading Ophthalmic Magazine Since 1975

     Free Sign Up     
News

Safilo's former CEO faces probe over alleged insider trading

22/10/2015
Share:

According to Reuters on 15 October, Italian prosecutors have ordered the "preventive seizure" of assets worth €1.3 million ($A2.03 million) from Mr Roberto Vedovotto, former chief executive of Italy-based eyewear group Safilo, as part of an investigation over alleged insider trading.

According to the seizure order, the prosecutors allege that Mr Vedovotto sold shares in Safilo several months after joining French luxury group Kering but before it was announced that Kering had decided to create its own eyewear division and end a key licensing agreement between Safilo and its subsidiary Gucci.

Mr Vedovotto, now chief executive of Kering Eyewear, did not immediately respond to an emailed request for comment. A spokeswoman at Kering Eyewear declined to comment.

Last year Safilo's shares fell 30 per cent after Kering announced on 2 September that it had decided to create its own in-house eyewear division and would end the Gucci licensing agreement with Safilo in 2016.

Â

Prodesign
advertisement





Younger Optics
advertisement
Editor's Suggestion
Hot Stories

George & Matilda Eyecare
advertisement


OR
 

Subscribe for Insight in your Inbox

Get Insight with the latest in industry news, trends, new products, services and equipment!