Football Italy reports that the owners of the Milan clubs Milan Scudetto and Roma have announced a series of changes to their board of directors, including one involving a new board of advisors, who will serve as an independent watchdog of the financials of the club.
It also reports that a report by the Audit and Anti-Corruption Commission (CAC) is due to be presented to the Milan president, Massimo Moratti.
In a statement on Monday, the owners said: “The board of the Serie A clubs has been made up of an independent committee consisting of the president, CEO, director of football and two members of the board of referees.
This committee will be empowered to appoint and dismiss its own board members.
The members of this committee will not be allowed to be appointed by the president.
As such, we will no longer be using the current procedure of a board of board, as the board will now be run by a new independent board.””
As the board members of clubs, we have chosen to adopt the current approach of appointing independent directors and the chairman of the independent board, who is independent from the board.
As such, we will no longer be using the current procedure of a board of board, as the board will now be run by a new independent board.”
It also reported that Moratti is considering appointing a new chairman of his board of referee and coach in the coming days.
The owners also announced the appointment of a new chief executive officer (CEO) for the club, who has the authority to manage the affairs of the company in accordance with a charter of autonomy.
The club said the decision to appoint a new CEO would be made “within the next few weeks” and added that Moratti will also consult with the club’s other shareholders, in the event of a change in management.
In another move, the board has been given the power to “issue a new corporate bond, with a maturity of five years, for the purpose of financing a new football stadium”.
It was unclear if the new bonds would be issued in the near future, but it is likely to be announced in the next 48 hours.