Juventus Get New Board Amid Financial Challenges

On Wednesday, shareholders approved Juventus’ new board of directors in advance of a prospective trial for suspected financial misdeeds that prompted the previous administration to leave in large numbers.

Juventus said that the new board “would stay in office until the date of the shareholders’ meeting summoned for the approval of the financial accounts as at 30 June 2025,” with 87 percent of those with voting rights supporting it.

Andrea Agnelli, who retired with the rest of the board in November, is replaced as chairman by Gianluca Ferrero.

“I want to give my best, alongside the board we will work to create a future that is worthy of our past,” said Ferrero in a short statement.

Italian newspapers La Repubblica and La Stampa are published by the GEDI media empire, which is controlled by Juve’s holding firm EXOR. New CEO Maurizio Scanavino will stand beside 60-year-old accounting specialist Ferrero.

Fioranna Negri, Diego Pistone, and Laura Cappiello make up the remainder of the board, making up a tiny group appointed to lead a team that approved revised losses for the 2021/22 season of 239.3 million euros ($255 million) last month.

They will have to go through a challenging moment when Juventus and former club leaders like Agnelli might be tried for accounting offenses, with a preliminary hearing scheduled for March 27.

Agnelli’s exit brings to an end a 12-year tenure that saw Juventus win several championships and briefly regain its status as one of the top teams in Europe, but which also saw the club’s finances spiral out of control and prosecutors closing in.

While UEFA is also looking into Juve’s finances, the Italian football authority FIGC will decide on Friday whether to restart an inquiry into the club’s transfer operations after reviewing papers from Turin prosecutors.

Juve and other clubs, as well as 61 individuals, were exonerated by the FIGC’s tribunal in April of last year after it was determined that it was impossible to assign a player an objective worth.

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