LensCrafters 2011 Annual Report Download - page 104

ANNUAL REPORT 2011> 28 |
In 2011, Succession and Potential Evaluation Plans were integrated globally with a
significant improvement in the ability to meet the organization’s needs internally by
providing qualified employees opportunities for development and promotion even
outside the areas of initial placement.
The first edition of the “Delphi” 360° assessment program was concluded in 2011. More
than 700 managers were offered the opportunity to receive detailed feedback on their
leadership style and these 360 assessments will serve as a basis to define individual plans
focused on improving the leadership and management of the resources and organizations
under their respective responsibilities.
During the year cooperation was stepped up with leading universities and business schools
in the emerging countries of particular interest to Luxottica (China, India, Brazil) with the
intent of promoting the uniqueness of the career opportunities offered and attracting top-
potential young graduates.
Lastly, once again in 2011 Luxottica was a protagonist in the Italian industrial relations
arena, particularly thanks to a series of labor agreements that have opened up an ability
for greater creativity in the areas of non-monetary remuneration, organizational flexibility,
working hours, and employee participation in quality and productivity improvements. The
virtuous relationship between the organization and its employees had its most significant
moment in the award of free shares to Italian employees as part of Luxottica’s 50th
anniversary celebrations.
Numerous accolades have been received from the media and institutions in recognition
of Luxottica’s role as a benchmark organization in t he management and development of
human capital.
Information about ownership structure and corporate governance is contained in a specific
document forming an integral part of the Annual Financial Report.
The Company is completing the update of its personal data protection document within
the legal term established by Italian Legislative Decree 196/2003.
During 2003, the subsidiary US 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
6. CORPORATE
GOVERNANCE
7. PERSONAL
DATA PROTECTION
DOCUMENT
8. SALE AND
PURCHASE OF
TREASURY SHARES