EL initiates buyback program for 1.5 million shares
To increase the value of employee profit-sharing plans and compensation, EssilorLuxotica will launch a share buyback program effective immediately for the purchase of 1.5 million shares. Buybacks will be available until March 31, 2022, for a per-share price not to exceed 200 euros (~$225 USD at the time of announcement). This buyback is part of an 18-month long resolution passed by the company on 21 May, 2021 permitting share buybacks of no more than 10% of the company's stock.
Competition|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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