The employee shareholding scheme at Essilor

Essilor is one of the forty largest companies trading on the Euronext Paris stock exchange. The principal shareholders are the 13,000 employees who are either currently working for the company or are retired. They hold 8.3 % of the capital and nearly 15 % of the voting rights. Half of them are also members of Valoptec, an association which, because of a very precise functioning, plays a key role in the company’s system of governance. Three representatives from Valoptec are on Essilor’s board of directors. Similarly, Essilor’s general management is present at Valoptec’s board meetings during which discussions take place and questions which have been put forward by local representatives can be addressed. Valoptec’s annual general meeting has to pass a vote of confidence in Essilor’s strategy and human resources policy. Aïcha Mokdahi believes that employee shareholding and membership of the Valoptec association are the factors which determine the performance of the group due to the vigilance of both past and present employees, and their exceptional commitment to the future of the company.