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Umberto Agnelli

Umberto Agnelli

Agnelli, Umberto: see under Agnelli, family.

Umberto Agnelli (November 1 193427 May 2004) was an Italian entrepreneur and politician. He served as a CEO of Fiat from 1970-1976 and senator of the Italian Republic, from 1976 to 1979, and was the honorary chairman of the Juventus soccer team, the past president of the Italian Football Association and later chairman of Italian carmaker Fiat from early 2003 until his death from cancer aged 69.

Business career

Agnelli was born in Torino in Italy. He was a senior executive in the family company, Fiat, but was sidelined by his brother Gianni until the latter's death in 2003. He then took over the Fiat group, which also controlled several Italian newspapers and publishers, and the Juventus soccer club, of which he had served as chairman. Umberto Agnelli was in the process of restoring Fiat's balance sheet after the company's balance sheet, market share, and share value were all in decline. Despite this, Forbes magazine estimated he was the world's 68th richest man with an approximate net worth of US$1.5 billion.

He and his wife Allegra Caracciolo di Castagneto had two children, of whom two survive. Elder son Giovanni Alberto Agnelli was groomed to succeed at Fiat but died young of cancer in 1997. Younger son Andrea Agnelli was named a Fiat director after Umberto Agnelli's death, though Gianni Agnelli's grandson John Elkann, named vice chairman, the next likely family head of the company. Umberto's daughter Anna also survives.

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