Andrea Agnelli, the chairman of Juventus, and the rest of the club’s board have abruptly resigned. The club has also confirmed their resignation.
Following the revelation that a shareholders’ meeting set for last week has been postponed until next month, The Bianconeri will experience a significant management shakeup.
Agnelli, who has been in control of the club since 2010, is one of several people who have resigned, along with vice-president Pavel Nedved and managing director Maurizio Arrivabene.
According to reports, Arrivabene will continue to serve as the club’s CEO while a new board is introduced. This will be confirmed in January.
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Why did the Juventus board resign?
Juventus acknowledged in a statement that the board’s decision to retire had been made in response to advise after concerns highlighted by auditor Deloitte and Consob, the Italian securities market government organization.
“The members of the Board of Directors, considering the centrality and relevance of the pending legal and technical-accounting issues, have deemed it in the best social interest to recommend that Juventus adopt a new Board of Directors to address these issues,” it read.
“To this end, on the proposal of the chairman Andrea Agnelli… all the members of the Board of Directors present at the meeting declared that they resigned from their office.
“The Board has requested Maurizio Arrivabene to maintain the position of Chief Executive Officer.”
Agnelli, who was the fourth member of his family to hold the position of chairman, appears to have had a long-standing relationship with the club before the announcement.
Juve, who is presently third in Serie A, failed to advance to the Champions League’s knockout stage this season and will instead play in the Europa League.
