04/07/2024

In trouble: Juventus' stock plummets following the board of directors' resignation.

Martes 29 de Noviembre del 2022

In trouble: Juventus' stock plummets following the board of directors' resignation.

The board of directors of Juventus resigned last Monday and on Tuesday, the shares of the Italian club fell by about 5% on the Milan Stock Exchange.

The board of directors of Juventus resigned last Monday and on Tuesday, the shares of the Italian club fell by about 5% on the Milan Stock Exchange.

The cameras are focused on Qatar 2022, however, a news has worried Juventus fans. The president Andrea Agnelli and the entire board of the Italian club resigned last Monday amid an investigation into them for alleged altered accounting. A day later, this decision has brought serious consequences.

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The shares of the sports institution fell nearly 5% Tuesday on the Milan Stock Exchange. Likewise, they sank 4.94%, to 0.265 euros, after having lost more than 7% shortly after the opening, in a market up 0.23%, according to information from AFP.

As is known, the former president sent a letter to all employees announcing their resignation from the club. "We face a delicate moment as a company and unity has failed (...) It is better to leave everyone together, giving the possibility of a new team to turn the game around," it reads.

Now, the general manager, Maurizio Arrivabene, will be in charge of resolving daily matters until a council is constituted. Similarly, the Agnelli family holding, Exor, appointed accounting expert Gianluca Ferrero as the new president on Tuesday.

It is important to mention that both Agnelli, former vice president Pavel Nedved, and former director Maurizio Arrivabene are under investigation by the Turin Prosecution Office. The Italian club would have imbalances in its money with movements of millions of euros and those mentioned could go to trial for false accounting and irregularities in the transfer of players.

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