UPDATE - Gianluca Ferrero named new chairman of Juventus

ADDS NEW CHAIRMAN'S APPOINTMENT

By Beyza Binnur Donmez and Selcuk Bugra Gokalp

ANKARA (AA) – After a mass exodus of the Italian football club’s executives under a cloud, Gianluca Ferrero on Tuesday was appointed the new chairman of Juventus, the Turin club said.

"With reference to the decisions taken yesterday by the Board of Directors of Juventus FC and in advance of its Shareholders Meeting called for 18 January 2023, Exor communicates that it will indicate Gianluca Ferrero for the role of Chairman of Juventus," said an official statement by Exor, the holding company that owns the majority of the club’s shares.

"As a corporate adviser, auditor, Board and committee member of a number of companies, Mr. Ferrero has significant experience and the required technical competencies, as well as a genuine passion for the Bianconero club, making him the person most qualified to fulfil this role," the statement added.

The entire board of directors at Juventus, including President Andrea Agnelli, resigned on Monday over charges of false accounting.

The decision came following an extraordinary meeting after hearing from independent accounting experts, the club said in a statement.

"The Board of Directors, considering the focus and relevance of the pending legal and technical-accounting issues, have deemed it in the best interest to recommend that Juventus adopt a new Board of Directors to deal with these issues," the club statement read.

Under Agnelli's term, which began in 2010, Juventus won nine Italian Serie A titles in a row until the 2019-20 season.

The new board of directors will be confirmed in a meeting scheduled for Jan. 18, and Maurizio Scanavino will be general manager until then.

During the 2021-2022 season, Juventus posted losses of €254.3 million ($256.95 million), the largest recorded loss in Serie A history.

The club currently hold third position in Serie A, 10 points behind leaders Napoli.