Exor chairman John Elkann confirmed that after 2019 Sergio Marchionne will remain in Exor, even after leaving FCA. It is one of the most awaited news that emerged during the holding company's Investor Day in Turin. “Sergio Marchionne's succession in FCA is a process that is taken very seriously by him, by the board of directors and by me. And there is the commitment that this happens in the most credible way. We trust very capable people who work at FCA today and who have all the numbers to be the ideal candidate for the succession” explained Elkann.
"Sergio has many hats in our group and will continue to contribute to what is the future of Exor", concluded the chairman of Exor, which today is the queen of Piazza Affari where it earns almost 4% over 55 euros per share . Elkann also clarified that Exor will not sell the stake in Ferrari: “We are very satisfied with what Ferrari is doing and what it will be able to do. We have no intention of selling our share of Ferrari. We are satisfied with what has been done." And completing the picture of the Agnelli galaxy, the president of Exor also spent encouraging words on Juventus: "My faith in the work of Andrea Agnelli and in the management of the team is total".
Returning to Exor, Elkann then spoke about dividends. Since 2009, the year Exor was founded, the holding has distributed $882 million in dividends, creating an estimated 903% shareholder return: “Our work has generated a good return for our shareholders: 9 times as much as our shareholders have invested, partly because the stock has appreciated partly thanks to the dividends that have been distributed. And we are very proud of this. This is a good premise to be able to continue working and to face the future with determination”, explained the number one of Exor.
During Investor Day Elkann also explained to analysts that the holding's goal is to further reduce the debt “to free up resources and return to invest in 2018”. There will therefore be no other investments by the end of 2017. "Total trust – finally expressed the number one of Exor – in Andrea Agnelli at Juventus" despite the federal inhibition for one year recently imposed on him.
