The king is dead. Long live the king.

Last night, Juventus fans received the shocking news of the board of director’s resignation, including its chairman Andrea Agnelli and vice-president Pavel Nedved.

With the club under ever-growing scrutiny due to financial investigations related to alleged irregularities in the balance sheet, the president and the rest of the board decided to vacant their posts, stating that it’s in the club’s interest.

However, it didn’t take an awful lot of time for the owners to appoint a new chairman of the board – suggesting that the change was already pre-designed.

Exor (the holding company that owns the majority of the club’s shares) has announced the appointment of Gianluca Ferrero as new Juventus president, while the rest of the vacant posts on the board will soon be filled.

“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,” reads the statement released on EXOR’s official website.

“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

“Exor will publish the full list of its candidates for the renewed Board of Directors within the timeframe required by law.”

According to his bio (attached to the statement), the new president is an auditing expert who held high profile corporate posts.

“Born in Turin in 1963, he graduated in Economics in 1988.He has been a member of the Ordine dei Dottori Commercialisti e degli Esperti Contabili of Turin since 1989 and a member of the Registro dei Revisori Legali since 1995.

“He is also a Consultant of the Judge at the same Court. He is Chairman of the Board of Statutory Auditors of Fincantieri S.p.A., Luigi Lavazza S.p.A, Biotronik, Italia S.p.A., Praxi Intellectual Property S.p.A., P. Fiduciaria S.r.l., Emilio Lavazza S.a.p.a., Gedi Gruppo, Editoriale S.p.A.. Nuo S.p.A. and Lifenet S.r.l.

“He serves as Standing Auditor in Fenera Holding S.p.A..

“He is Deputy Chairman of the Board of Directors of Banca del Piemonte and member of the Board of Directors of Italia Independent Group S.p.A. and Pygar S.r.l.”