Olympique de Marseille: V. Labrune leaves the club, G. Ciccolunghi appointed chief executive

A new governance structure, with an executive board and a supervisory board, has been set up by Olympique de Marseille (Ligue 1), announced Margarita Louis-Dreyfus, owner of the club, on 20/07/2016. Giovanni Ciccolunghi (72 years old), a member of the board of Louis-Dreyfus Holding, has been appointed the chief executive of of the club. Vincent Labrune, the Marseille president since June 2011, will leave office on Monday, 25/07/2016.

Margarita Louis-Dreyfus, the majority shareholder of Olympique de Marseille since the death of her husband, Robert Louis-Dreyfus, on 04/07/2009, officially announced she was putting the club on sale on 13/04/2016. "The objective of the new structure is to manage the club with a high level of professionalism and transparency in order to restore the financial strength and athletic success of OM in this transition phase, so that the new shareholder can build on solid foundations and compete at the European level" stated Louis-Dreyfus on 20/07/2016.

Jean-René Angeloglou, an accountant close to the Louis-Dreyfus family who advised Robert Louis-Dreyfus…