Tuesday noticed the outgoing Juventus Chairperson Andrea Agnelli addressing his tenure on the steering wheel of the long-lasting Italian Serie A membership, admitting that the choice to step down was made with a heavy coronary heart.
“On top of loving Juventus, in recent years I have given my best to achieving results on and off the pitch,” Agnelli advised shareholders gathered in Turin’s Juventus Stadium.
Investors accredited outcomes for the fiscal 12 months that resulted in June which confirmed a 238 million euro ($255 million) loss.
Juventus, Italy’s most profitable workforce, is beneath scrutiny by prosecutors and the nation’s market watchdog for alleged false accounting, main its board to resign final month.
Prosecutors have requested Agnelli, 11 different folks and the membership itself stand trial.
Agnelli, a member of the household which controls Juventus and the workforce’s chairperson for over a decade, mentioned that by stepping down he had wished to keep away from any danger that individuals would possibly suppose his private state of affairs may have an effect on the membership’s selections.
“Juventus comes before everything and everyone,” he mentioned. “I am strongly convinced I have acted properly in recent years, and that accusations raised against us were not founded.”
Italy’s soccer prosecutors final week sought the partial cancellation of a ruling that cleared Juventus and different golf equipment and their executives following the accounting investigation centered on capital beneficial properties.
A listening to on the case is scheduled on Jan. 20, Juventus CEO Maurizio Arrivabene mentioned on Tuesday.
On Monday Exor – led by the scion of the Agnelli household John Elkann and the most important investor in Juventus with round 64% of shares and 78% of voting rights – introduced its slate for the membership’s new board, which will likely be appointed at a shareholder assembly on Jan. 18.
It consists of accountant Gianluca Ferrero for the function of chairperson and Maurizio Scanavino as CEO. Scanavino is the CEO of writer GEDI, additionally managed by Exor, and was just lately appointed as Juventu’s basic supervisor.
The new board made up of accounting, auditing and authorized professionals will shrink to 5 members from 10 beforehand.
