The directors serve for a period of three years and their terms expire on the date of the shareholders' meeting called to approve the financial statements of the last financial year of their term.

They can be re-elected at such shareholders’ meeting. The current Board of Directors was elected by the Shareholders at the meeting held on April 29, 2009.

Current serving directors are:

• Leonardo Del Vecchio, Chairman
• Luigi Francavilla, Deputy Chairman
• Andrea Guerra, Chief Executive Officer
• Roger Abravanel, independent director
• Mario Cattaneo, independent director
• Enrico Cavatorta
• Roberto Chemello
• Claudio Costamagna, independent director
• Claudio Del Vecchio
• Sergio Erede
• Sabina Grossi
• Ivanhoe Lo Bello, independent director
• Marco Mangiagalli, independent director
• Gianni Mion, independent director
• Marco Reboa, independent director

Luxottica Group’s fiscal year ends on December 31 of each year. Before January 30 of each year, Luxottica Group announces the dates for that fiscal year for the approval of its financial results by its Board of Directors.
The Board of Directors reviews and approves the following Financial Reports:

• consolidated financial statements and Luxottica Group S.p.A financial statements;
• Quarterly Report on the first quarter;
• Financial Report on the First Half;
• Quarterly Report on the third quarter.

The Financial Calendar is announced to the market and published on our website.
 

The Board of Statutory Auditors is required to verify that the Company (i) complies with applicable laws and with the By-laws [; (ii) respects the principles of correct administration; (iii) maintains adequate organizational structure, internal controls and administrative and accounting systems; (iv) ensures that the accounting system represents the facts in a fair and true manner; (v) complies with the Italian Code of Corporate Governance; and (vi) gives adequate instructions to its subsidiaries.

Since June 2006, the Board of Statutory Auditors also acts as “Audit Committee” as defined in the Sarbanes-Oxley Act, SEC regulations and NYSE listing standards.