LensCrafters 2010 Annual Report Download - page 56

ANNUAL REPORT 2010> 54 |
we develop channels for clear, effective communication of the organization’s policy, strategy and development plans •
and prepare management to both communicate effectively and remain open to ideas and feedback from their staff;
we develop a “value proposition” which seeks to satisfy the varied professional expectations and aspirations of the •
individuals in the workforce, making Luxottica truly the ideal place to work and to advance.
In recognition of the effectiveness of its various initiatives, Luxottica received a series of awards in 2010, both in Italy and
internationally. Among these were:
“Premio Etica e Impresa”. This Business & Ethics Award, promoted by Italy’s federation of management, various •
trade unions and the association of personnel directors (FederManagement, CGIL, CISL and UIL and AIDP), aims
to promote stimulate ethical values and conduct in the workplace, in schools and in society in general and thereby
contribute to the growth and spread of a new culture of work, dialogue and social cohesion;
“Goodwin Awards 2010”. This award, promoted by Siena University’s Economics Faculty, intends to give recognition •
to companies whose initiatives over the year have augmented social well–being;
“Premio Aretê 2010”. This award, instituted by Pentapolis in collaboration with the Italian Banking Association •
(Associazione Bancaria Italiana), the support of the Italian President, and the patronage of Italy’s Environment Ministry,
the Representation of the European Commission in Italy and the Italian National Commission for Unesco, aims to
promote the spread of responsible corporate communication. Luxottica received the award for initiatives in the area
of second–tier supplementary welfare.
6. CORPORATE GOVERNANCE
Information about ownership structure and corporate governance is contained in a specific document forming an integral
part of the annual financial report.
7. PERSONAL DATA PROTECTION DOCUMENT
The Company is completing the update of its personal data protection document within the legal term established by
Italian Legislative Decree 196/2003.
8. SALE AND PURCHASE OF TREASURY SHARES
During 2003, the subsidiary U.S. Holdings purchased 4,523,086 shares of Luxottica Group S.p.A. as part of an authorized
buy–back program. This followed the purchase of 1,911,700 such shares in 2002. The shares were subsequently transferred
to the subsidiary Arnette Optic Illusions Inc. which held a total of 6,434,786 shares in Luxottica Group S.p.A. as of December
31, 2008.
During 2009, the Company purchased treasury shares under buy–back programs authorized at Stockholders’ Meetings
on May 13, 2008 (“2008 Program”) and on October 29, 2009 (“2009 Program”), with the purpose of ensuring efficient
management of capital and of executing the “Performance Share Plan”. Under the 2008 Program, completed on November
13, 2009, the Company purchased a total of 1,325,916 shares on the Milan Stock Exchange’s Mercato Telematico Azionario
(MTA) at an average unit price of Euro 17.13 for an aggregate amount of Euro 22,714,251.
Under the 2009 Program, started on November 16, 2009 and still effective, the Company purchased in the period up to
December 31, 2010 a total of 4,710,454 shares (of which 1,352,154 were purchased in 2009) on the MTA at an average unit
price of Euro 19.07 for an aggregate amount of Euro 89,816,864.
In parallel, as of December 31, 2010 the U.S. subsidiary Arnette Optic Illusions, Inc. sold a total of 6,434,786 treasury shares
on the MTA at an average unit price of Euro 18.88 for an aggregate amount of Euro 121,506,814.