Overview
- In a formal letter dated August 29, Leonardo Maria Del Vecchio asked Delfin’s commissaires aux comptes, Fabio Scoyni and Lara Forte, to open an independent probe into the holding’s board for alleged conflicts of interest and opaque information practices.
- The letter names specific concerns about board members, notably notary Mario Notari and Romolo Bardin, and accuses the board of repeatedly denying requests for documents about Delfin’s assets and decisions.
- Tensions followed the Delfin board’s rejection of Leonardo Maria’s pre-summer plan to buy his siblings’ shares, and his recent resignations from operating roles at EssilorLuxottica have deepened the rift with Delfin chairman Francesco Milleri.
- A Luxembourg court has approved transferring 25% of Delfin held by two heirs into personal vehicles, a technical step that would allow those shares to be pledged or sold and could prompt rebalancing of control over Delfin’s stakes in EssilorLuxottica, Mps, Generali and Unicredit.
- The letter also raises specific asset and legal problems that shareholders say were not disclosed, including worsening results and repeated capital calls at Ceramica Dolomite and reported U.S. legal exposure linked to Brooks Brothers, while removal proceedings and other actions involving Notari remain active and unresolved.