Finance
Exor renews Ferrari shareholder agreement with founder's son
Exor renews Ferrari shareholder agreement with founder's son
Published by Global Banking and Finance Review
Posted on January 3, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 3, 2026
MILAN, Jan 3 (Reuters) - The Agnelli family investment company Exor <EXOR.AS> and Ferrari founder's son Piero Ferrari have agreed to renew a shareholder agreement governing the Italian luxury sportscar maker, they said on Saturday.
A 10-year agreement, which expires on Sunday, has been extended until January 4, 2029, with an automatic renewal for three further years, unless terminated by the parties, Exor and Piero Ferrari said in a statement.
Based on the agreement, the parties will work to coordinate their positions on matters to be resolved at Ferrari shareholder meetings, and have reciprocal rights of first offer in the case of transfers of Ferrari shares.
Exor owns around a 20% stake in Ferrari, while Piero Ferrari is the company's second-largest investor with a 10.6% stake.
Between them, they hold more than 48% of voting rights.
Exor CEO John Elkann, the scion of the Agnelli family, is the chairman of Ferrari. Piero Ferrari is vice chairman and a non-executive board member.
(Reporting by Giulio Piovaccari; Editing by Kirsten Donovan)
A shareholder agreement is a contract among the shareholders of a company that outlines the rights, responsibilities, and obligations of the shareholders, including how shares can be transferred and how decisions are made.
Equity refers to the ownership interest in a company, represented by shares. It signifies the value of ownership after all liabilities have been deducted from the total assets.
Corporate governance is the system by which companies are directed and controlled. It involves the relationships among the management, board of directors, shareholders, and other stakeholders.
A stake in a company refers to the ownership interest held by an individual or entity, typically represented by shares. It indicates the level of investment and potential influence over company decisions.
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