Paolo Scaroni and Ivan Gazidis have been confirmed (at least momentarily) in today’s shareholders meeting.
At the end of last month, Gerry Cardinale completed the acquisition of Milan from Elliott as RedBird became the new owners of the Rossoneri.
Today, the first shareholders meeting took place and a new Board of Directors was appointed, as confirmed by Milan’s official website:
Milan’s new Board of Directors was appointed today during a Shareholders’ Meeting held in Milano. This formal act follows the acquisition of Associazione Calcio Milan by RedBird – a takeover that was finalised on 31 August – and it represents a new chapter for the Club, in the name of continuity and constant development.
The new Board is composed of Paolo Scaroni, Ivan Gazidis, Gerry Cardinale, Alec Scheiner, Niraj Shah, Isaac Halyard, Gordon Singer, Giorgio Furlani and Stefano Cocirio.
The new Board of Directors, which met after the Shareholders’ Meeting, has reappointed Paolo Scaroni as Chairman and Ivan Gazidis as Chief Executive Officer of the Club.
“Today marks a new phase in the Club’s development process, in the name of continuity and quality,” Paolo Scaroni commented. “The new Board of Directors includes Elliott representatives, who were already sitting on the Board, guaranteeing the continuation of the added value seen in the past few years, as well as a balanced approach during this transitional phase. Joining them are new members, representatives of RedBird, the majority shareholder, who will add their competence, experience and managerial know-how in the sports and entertainment business from a global perspective.”
“Everyone would like to express their heartfelt thanks to the outgoing Board members Alfredo Craca, Massimo Ferrari and Marco Patuano, who have always shown great managerial vision and professionalism, as well as maximum availability and exceptional passion for our colours, thus contributing to the Club’s success in the past few years.”
“I am grateful for the confidence that the new Shareholders have placed in me,” added Scaroni. “It is a big responsibility and a privilege to have the opportunity to lead the Club’s Board of Directors at a time when we are all called upon to give renewed impetus to the project in the hope of creating a sustainable and winning Milan.”
Despite Gazidis’ confirmation, he is expected to leave the club in November when his contract expires and he should be replaced by Giorgio Furlani, who is also on the Board.