Luxottica shares rise on Milan bourse

(ANSA) - Milan, October 23 - Luxottica shares performed well in morning trading on the Milan stockmarket Thursday after the board of directors unanimously named Adil Mehboob-Khan co-CEO of the eyewear giant to work alongside Massimo Vian.
    Shares in the maker of Ray Ban and Oakley brands rose by 2.5% to 39.1 euros on the news of Wednesday's appointment, made with the blessing of Luxottica founder and president Leonardo Del Vecchio.
    Mehboob-Khan will be in charge of corporate functions and markets, effective January 1.
    Last week company shares fell by as much as 10% amid controversy triggered by the announcement that Enrico Cavatorta was stepping down as chief executive officer for operations and products after only six weeks.
    He had been appointed after the resignation of longstanding CEO Andrea Guerra.
    Vian, who formerly served as chief operations officer, was appointed immediately to take his place.
    Both Cavatorta and Guerra reportedly quit because of disagreements with Del Vecchio, who has a majority stake in the company.