The organization of Giovanni Agnelli BV, the heir business to the empire founded around the old Fiat and now at the helm of industrial behemoths such as Ferrari, Stellantis, and CNH, has changed. Following the successful completion of the maximum share buyback in subsidiary Exor and the takeover bid of $750 million, John Elkann has increased his ownership stake in the Dutch box to within a whisker of 40%. This comes in stark contrast to Andrea Agnelli, who, from being the second shareholder of the family safe with nearly 12%, has reduced its stake by 25%, falling below the 9% threshold. A important step, which comes a year after Andrea, Umberto's son, stepped down from the presidency of Juventus after 12 years and resigned from the other posts he held in the Exor universe. A substantial adjustment is made to the overall balance as a result of this internal reorientation: the eleven family branches and the one hundred shareholders are eliminated in favor of three reference blocks—the Agnelli Group, the Giovanni Agnelli Group, and the Nasi Group—as a result of an entirely new governance structure.
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