Furthermore, the Board of Directors’ members, given the centrality and the relevance of the pending legal and technical/accounting matters, considered in the best interest of the Company that Juventus provided itself with a new Board of Directors to address these matters.
For this purpose, upon proposal of the Chairman Andrea Agnelli and in order to allow the decision on the renewal of the Board to be submitted to the Shareholders' Meeting as soon as possible, all the members of the Board of Directors present at the meeting declared to forego their office.
For the same reasons, each of the three directors with powers (the Chairman of the Board of Directors Andrea Agnelli, the Vice Chairman Pavel Nedved and the Chief Executive Officer Maurizio Arrivabene) has considered appropriate to forego the powers granted to them. The Board of Directors has, however, asked Maurizio Arrivabene to maintain the position of CEO.
As a result of the foregoing, the majority of the Directors in office has ceased and, therefore, in accordance with the applicable laws and the By-laws, the Board of Directors must be deemed as ceased. The Board of Directors will continue its activities under a prorogatio regime until the Shareholders’ Meeting that has been convened for 18 January 2023 to appoint the new Board of Directors (except for Director Daniela Marilungo, who has resigned by means of a separate statement; see below for further information)1.
Juventus will continue to collaborate and cooperate with the supervisory and industry Authorities, without prejudice to the defense of its rights in relation to the challenges raised against the Company’s financial statements and press releases by Consob and the Public Prosecutor’s Office.
I think Andrea got too cocky and thought it was himself who was instrumental to the revolutionary change. Also, the financial fuckery was probably also his idea. He seems stupid enough.
I do think there will be upside to this in the long term but the short term could be chaotic. Could also be smooth sailing. I wonder if this means there will not be government punishments but the board was disgusted with the findings anyways to clean house.
as you said italian press knows everything, if there would be punishments we'd already knew. might be some wishful thinking. i still think that the plusvalenza case was some bs witch hunt, those shady payments outside of the balance sheet are more serious claims even if they are equally hard to prove
as for agnelli, he might be out of allies, supporters and options. superleague looks like a dead end, gravina can't wait to punish juve, zhang is his bff in the league lol, from eca president to pariah in europe, shareholders might have had enough of the capital raises, results are terrible, squad quality is in downfall, new marketing strategy is a joke, i mean there are plenty of reasons to get rid of him