By Ed Frankl

Andrea Agnelli will step down from the boards of Exor NV and car maker Stellantis NV, the two companies said late Wednesday, following a police probe at Juventus, the Italian soccer club where he was chairman.

Mr. Agnelli won't stand as a nonexecutive director of his industrialist family's holding company Exor at this year's annual general meeting, the company said. He was reappointed to a three-year term in 2020.

Exor nominated Mr. Agnelli to the board of Stellantis, of which it owns 14%, in 2021. His resignation is effective at the company's 2023's AGM.

Exor will designate the successor director for the auto manufacturer's board, Stellantis said.

Mr. Agnelli also formally stepped down as chairman of Italian soccer club Juventus Football Club SpA at its shareholder meeting on Wednesday, after its entire board resigned last year following a police investigation into the club's player transfer activity.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

January 19, 2023 01:59 ET (06:59 GMT)

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