John Elkann, the great great-grandson of the Fiat founder Giovanni Agnelli, has been appointed as chairman of IFIL, the Agnelli family-controlled investment company.
After the company's annual general meeting of stockholders in Turin, outgoing chairman Gianluigi Gabetti and the newly elected IFIL board of directors met to rubber stamp Elkann's appointment and usher in the next generation of the dynasty.
A member of the fifth generation, 32-year-old Elkann (pictured) has risen through the ranks of the family's diversified holdings. He was appointed to Fiat's board in 1997 and, following the death of his grandfather Gianni in 2003, became vice chairman of the iconic car manufacturer and deputy chairman of IFIL.
IFIL, which was founded in 1919, is in turn controlled by ultimate holding company Giovanni Agnelli & C. It owns a range of interests including property company Cushman & Wakefield and Juventus football club. It currently owns just over 30% of Fiat.
Elkann's job is now to push on with IFIL's strategy of conducting diversified, international scale investments geared towards the medium- to long-term.
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