MILAN: Serie A club AC Milan announced a new board of directors (BoD) at a shareholder meeting in the city on Saturday.
The board comprises Paolo Scaroni, Marco Patuano, Franck Tuil, Giorgio Furlani, Stefano Cocirio, Salvatore Cerchione, Alfredo Craca and Gianluca D’Avanzo.
Scaroni has been appointed as executive chairman on an interim basis as the club’s CEO, Marco Fassone, has been sacked. The club is likely to name Fassone’s permanent replacement in the near future.
The new board’s primary job is to revamp the club’s business plans keeping in mind with the objective of the club returning to the Champions League.
AC Milan has undergone upheaval in ownership and subsequently, American hedge fund investment company, Elliot took control of the club and injected $58 million for its financial stability.
The development comes days after the Italian club won a crucial case in the Court of Arbitration for Sport (CAS) against UEFA in Switzerland over allegedly violating their Financial Fair Play rules.
“I am humbled by the opportunity to lead AC Milan’s board of directors, and grateful for the trust and support of my fellow board members. This is a critical moment in the club’s storied history, and we’re all grateful to have a new owner committed to return AC Milan to its former glory. At the board level, we will do everything possible to put the coach and the players in a position to succeed. There is considerable hard work ahead, and we are eager to build upon today’s (Saturday’s) momentum.” Scaroni said.
“The election of a new board marks another step forward in getting AC Milan back on track. Elliott is well positioned to deliver financial stability and proper oversight, the building blocks of on-field success and a world-class fan experience. We recognize the prominent place AC Milan occupies in the football world and are cognizant of the responsibility that comes with owning such a storied franchise.” Paul Singer, founder, co-CEO and co-CIO of Elliot commented.
