Published by Global Banking & Finance Review®
Posted on March 24, 2026
2 min readLast updated: March 24, 2026
Add as preferred source on GoogleExor CEO John Elkann says the company will pause further buybacks in 2026 to preserve liquidity amid geopolitical and tech-driven volatility, even though it has already spent €2.5 billion on buybacks over the past four years.
MILAN, March 24 (Reuters) - Exor Chief Executive John Elkann indicated on Tuesday the investment company of Italy's Agnelli family would not launch further share buyback deals this year, as it seeks to preserve liquidity in a highly uncertain environment.
Elkann, the Agnelli scion, earlier on Tuesday told Reuters Exor was in no rush to spend its 3.5-billion-euro ($4.1 billion) war chest for investments as the Iran conflict and disruption from artificial intelligence was stoking volatility.
"As of now, we believe that cash is king, and it is a moment where making sure that we do have a fortress balance sheet is important. And that is also the case for our companies," Elkann said in a post-earnings call, replying to a question on possible buybacks in 2026.
The CEO said Exor pursued buy backs aggressively in the past four years, for a total of 2.5 billion euros, an amount close to 15% of its capital, which he described as "a way to invest in ourselves".
"We believe that our companies are all with very strong balance sheets, which is the most important thing when you do enter in uncertain times, as we have learned in the past," he said.
($1 = 0.8636 euros)
(Reporting by Giulio Piovaccari, editing by Alvise Armellini)
Exor is pausing additional buybacks to preserve liquidity and ensure a strong balance sheet during a period of high market uncertainty.
Exor has spent a total of 2.5 billion euros on buybacks over the past four years, representing about 15% of its capital.
Exor's caution is due to market volatility from the Iran conflict and disruptions caused by artificial intelligence.
According to CEO John Elkann, having a 'fortress balance sheet' and strong liquidity are the most important strategies in uncertain times.
As of now, there is no confirmation of future buybacks in 2026, with Exor focusing on cash preservation.
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