Juventus, Agnelli and the board resign: Scanavino new general manager

The decision made during an extraordinary council

Earthquake in Juventus where the entire board of directors resigned. With the president Andrea Agnelli, in the evening, in an extraordinary council held at the Continassa, the vice president Pavel Nedved, the managing director Maurizio Arrivabene and the members Laurence Debroux, Massimo Della Ragione, Katryn Fink, Daniela Marilungo, Francesco Roncaglio left , Giorgio Tacchia and Suzanne Keywood.

The new board will be appointed on 17 January 2023 by the shareholders’ meeting. Meanwhile, Maurizio Scanavino is the new general manager of the company.

The involvement in the Prisma investigation, opened by the Turin Public Prosecutor’s Office on charges of false accounting, and the latest complaints from Consob, which led to a review of the draft budget to be approved and to postpone the budget twice, weighed on the decision. shareholders’ meeting, currently set for December 27th.

The BoD “has once again examined the objections of the Public Prosecutor’s Office at the Court of Turin, the deficiencies and critical issues raised by Consob and the findings raised by Deloitte & Touche SpA, Juventus’ auditing firm. With reference to the critical issues relating to the so-called “salary maneuvers “carried out in the 2019/2020 and 2020/2021 financial years”, reads a press release. The Board of Directors “found that these are complex profiles relating to evaluation elements susceptible to different interpretations regarding the applicable accounting treatment and has carefully considered the possible alternative treatments”, it is underlined. Ample space is reserved in the corporate note for the management of the partial spreading of the salaries of football players in the covid era.

In the lengthy press release, Juventus announces “a new consolidated financial statement as at 30 June 2022 which will be examined and approved at a forthcoming board meeting, disclosed to the market in accordance with the law and submitted to the Shareholders’ Meeting already called for 27 December 2022” .

The Board of Directors resolved to appoint Maurizio Scanavino as general manager. “Furthermore, 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 deal with these issues. To this end , on the proposal of the Chairman Andrea Agnelli and in order to allow the decision on the renewal of the Board to be referred to the Shareholders’ Meeting as soon as possible, all the members of the Board of Directors present at the meeting declared that they resigned from their office”, he maintains the club.

“For the same reasons, each of the three directors holding proxies (the Chairman Andrea Agnelli, the Deputy Chairman Pavel Nedved and the Chief Executive Officer Maurizio Arrivabene) deemed it appropriate to hand over the powers conferred to the Board. The Board, however, requested Maurizio Arrivabene to maintain the office of Chief Executive Officer. Due to the foregoing, the majority of the Directors in office has ceased to exist and, therefore, pursuant to the law and the Articles of Association, the Board of Directors must be considered terminated”, continues the note .

“The Board will continue its activity under the prorogatio regime until the Shareholders’ Meeting which has been called for 18 January 2023 for the appointment of the new Board of Directors. Juventus will continue to collaborate and cooperate with the supervisory and sector authorities, without prejudice to the protection of one’s rights in relation to disputes raised against the Company’s financial statements and press releases by Consob and the Public Prosecutor’s Office”, continued Juve.



Source-www.adnkronos.com