Leonardo Maria Del Vecchio will step down on Aug. 31 as chairman of Ray-Ban and chief strategy officer of EssilorLuxottica, ending four years of operational collaboration with chairman and chief executive Francesco Milleri. In a resignation letter first reported by MF-Milano Finanza, the 31-year-old heir criticized a management style he called distant and impersonal, saying the group was not the Luxottica he remembered alongside his father. EssilorLuxottica confirmed the resignation and thanked him for contributing to the group’s growth and strategic vision. He will remain a shareholder through Delfin, the Luxembourg family holding that controls 32.4% of EssilorLuxottica plus major stakes in Monte dei Paschi di Siena, Generali, UniCredit and Covivio. The move comes as Delfin’s restructuring remains stalled, ties with Milleri have deteriorated, and Del Vecchio faces personal financial exposure estimated at no less than €1.3 billion, with dividends blocked by other heirs and refinancing talks under way. Sources close to his family office framed the exit as governance housekeeping that separates his manager and shareholder roles.