{"id":36070,"title":"EssilorLuxottica backs Del Vecchio as hacking probe escalates","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2024-10-28T06:16:43+00:00","modified":"2024-10-28T06:16:43+00:00","canonical_url":"https://stockmark.it/essilorluxottica-backs-del-vecchio-as-hacking-probe-escalates/","markdown_url":"https://stockmark.it/essilorluxottica-backs-del-vecchio-as-hacking-probe-escalates.md","json_url":"https://stockmark.it/essilorluxottica-backs-del-vecchio-as-hacking-probe-escalates.json","category":"Business","categories":["Business","Companies","Financial"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2024-10-28T061326.565.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"EssilorLuxottica expressed “full support’ to Chief Strategy Officer Leonardo Maria Del Vecchio – the late founding father’s son – after Milanese authorities placed him under investigation in a vast probe into alleged illegal trafficking of private information.\n\nLeonardo Maria has done a fantastic job at EssilorLuxottica. He has our full backing in this difficult time.\n\nAt a press briefing on Saturday, prosecutors announced that Del Vecchio was among the dozens of people under investigation, and four had been arrested. Investigators in Milan are investigating whether people paid Equalize, a local company that provides business intelligence, to hack databases of the state, including those of tax authorities. Other allegations include the planting of Trojan viruses on people’s mobile phones and fabricating false information about high profile individuals in order to harm their reputation.\n\nEssilorLuxottica does not participate in the investigation.\n\nInvestigators’ move comes at a sensitive time for EssilorLuxottica. The maker of Oakley sunglasses and Ray-Ban glasses, whose valuation reached over €100bn in the past week. Facebook’s Meta owner has been in talks with about a multi-billion euro investment as the social media platform intensifies efforts to develop smart sunglasses.\n\nPeople close to the situation claim that Del Vecchio has been prompted by the investigation to consider temporarily stepping down from his role as EssilorLuxottica’s Chief Strategy Officer. Two other people said that the company did not pressure him into doing so.\n\nDel Vecchio’s lawyer, Maria Emanuela Mascalchi said in a press release that her client “seems like a victim (rather than an perpetrator) in light of initial allegations”.\n\nShe said that Del Vecchio “was eagerly awaiting completion of preliminary investigation to be able prove that he had nothing to do with events in question and charges against him are without basis”.\n\nInvestigators are looking into whether two individuals who worked in Del Vecchio’s family office gave instructions to Equalize. The people claimed that investigators had evidence of several meetings between Del Vecchio family office executives and Equalize employees in 2023.\n\nThe prosecutor’s department declined to comment further on the investigation. The prosecutor’s office announced on Saturday that the investigation had led to the arrest of four Equalize employees including its CEO and founder. So far, there have been no formal findings.\n\nOn Sunday, Equalize’s office did not respond to calls seeking comment. A spokesperson from the Del Vecchio Family Office declined to comment.\n\nDel Vecchio, the son of Leonardo Del Vecchio, the late Italian billionaire is a well-known name in the world. Leonardo Maria, his mother, and six half-siblings inherited, after the death of his father in 2022, a 12.5% stake in Delfin Holdings, based in Luxembourg, valued at $5bn.\n\nDelfin owns shares of the financial institutions Generali Mediobanca, and UniCredit in addition to its stake in EssilorLuxottica.\n\nDel Vecchio, through his family office, has made recent investments in a number of businesses including the hospitality and drink sectors. He has also launched a popular Italian luxury restaurant brand."}