Cucinelli hires former Luxottica manager as co-CEO

Italian luxury goods maker Brunello Cucinelli has hired Luca Lisandroni, a former senior manager at eyewear group Luxottica, as its co-chief executive.

The appointment marks another management departure from Luxottica, the maker of Ray Ban and Oakley sunglasses, which lost its third CEO in 17 months at the end of January, when top shareholder and founder Leonardo Del Vecchio, 80, took on executive powers as chairman.

Changes at the helm of Luxottica have prompted some senior managers to leave the group, sources have told Reuters.

Deutsche Bank analysts flagged in a recent note execution risks at Luxottica given the management changes and the possibility that others may leave.

Cucinelli's new appointment was announced by Brunello Cucinelli, the company's chief executive, during an analyst call on Thursday.

Lisandroni will flank co-CEO Riccardo Stefanelli, Cucinelli's son-in-law who joined the company in 2006 and oversees the group's shop network.

"At 62 I'm happy to have with me two young men who can grow and bring their ideas to the company," Cucinelli said.

Lisandroni, 37, was general manager at Luxottica Brazil according to his LinkedIn page.