Juventus club board and president Andrea Agnelli abruptly resign; social media in shock
In a shocking development, the entire football board of Juventus has resigned, including club president Andrea Agnelli. The Old Lady is expected to witness a massive shake-up in the hierarchy.
In what comes as a shocker in the Italian football community, the entire football board of Italian giants Juventus suddenly resigned, including club president Andrea Agnelli. The Old Lady may notice a significant shake-up in the hierarchy in the coming days, while its vital shareholders' meeting, scheduled to occur last week, has now been postponed to next month. Bianconeri's vice-president Pavel Nedved and managing director Maurizio Arrivabene are also the ones to have stepped down. However, the latter is expected to retain his position as the club CEO and might overlook the introduction of the new board, which is expected to be authorised in January next year.
Juventus put out a statement on the same, proving that the decision was taken upon advice from Consob (Italian securities market government authority) and Deloitte (auditor). "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," read the statement.
"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," the statement added.
The board's resignation Agnelli's decades-long relationship with Juventus, as he was the fourth member of the Agnelli family to serve as the chairman of the club. The Old Lady is currently going through a turbulent phase in terms of on-field performance, placed third in Serie A, besides failing to progress beyond the group stage in the UEFA Champions League (UCL) and dropping to the UEFA Europa League (UEL).