By Mauro Orru

EssilorLuxottica SA said late Thursday that its board of directors agreed to pay an interim dividend for 2020, citing the business recovery in the second half of the year as well as the success of cost-saving measures.

The Franco-Italian optical giant said the interim dividend of 1.15 euros ($1.41) a share would be paid in late December.

The announcement comes as Francesco Milleri and Paul du Saillant have been respectively appointed chief executive and deputy chief executive of EssilorLuxottica. Mr. du Saillant was also appointed chairman and chief executive of Essilor International.

The two have been granted executive powers until the 2021 annual general meeting, the company said.

EssilorLuxottica said it is adjusting its governance as Hubert Sagnieres leaves his executive role to stay on as nonexecutive vice-chairman, while Leonardo Del Vecchio is also stepping back from his executive role and remaining as nonexecutive chairman of EssilorLuxottica "to preserve the equal powers principle of the business-combination agreement currently in place."

EssilorLuxottica was created in 2018 from the combination of optical-lens manufacturer Essilor and luxury-eyewear maker Luxottica.

"The incredible progress made over the last two years, and most recently under the impetus of Francesco and Paul, give me confidence that this is the right time for me to step back and transfer my executive powers to them, to facilitate a smoother governance transition," said Mr. Sagnieres.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

12-18-20 0140ET