Exor appoints Ajay Banga as Chairman

Exor N.V. (“Exor” or “the Company”), the diversified holding company controlled by the Agnelli family, announces that meeting today the Company’s Board of Directors resolved to separate the roles of Chairman and Chief Executive Officer.

Ajay Banga has been appointed Chairman, Senior Non-Executive Director of the Board with immediate effect. Mr. Banga has been a member of the Company’s Board of Directors since May 2021 and has served most recently as Chair of Exor’s Environmental, Social and Corporate Governance Committee. John Elkann will continue to ensure the executive leadership of the Company in his role as Chief Executive Officer.

Mr. Banga is recognised as one of the world’s most experienced business leaders, with particular expertise in the fields of data, technology, financial services and consumer goods. He served for more than a decade as President and CEO of the global data and payments company Mastercard Inc., leading that company through a strategic, technological and cultural transformation. He has also served on the Boards of Kraft Foods and Dow Inc.

Today, he is Vice Chairman of General Atlantic, a leading global private equity firm, and is also an independent director of Temasek, the Singapore-based global investment company. Prior to joining Mastercard, Mr. Banga was CEO of Citigroup Asia Pacific, the culmination of his thirteen years in a range of senior roles at one of the world’s leading global financial institutions. He started his career at the global food and beverage company Nestlé, in India.

Commenting on Mr. Banga’s appointment, John Elkann, Exor’s Chief Executive Officer said: “As a member of our Board, Ajay shares our purpose, which is to build great companies. His additional responsibility as Chairman will strengthen Exor with the experience and wisdom he brings. This will also align Exor's governance model with that of our companies, allowing me to concentrate on our next phase of development".

Ajay Banga said: “Our world is in a rapid change cycle on so many fronts and John and the Exor team continue to transform our company for its future. This is an exciting time to be a part of Exor’s journey and I am delighted at the opportunity to work closely with John and my Board colleagues.


The Board of Directors meeting deliberated also a series of new appointments in the Company’s committees, which are composed of independent Directors only. The composition of the Committees is the following:

Audit Committee: Laurence Debroux (Chair), Ajay Banga and Marc Bolland.

Compensation and Nominating Committee: Marc Bolland (Chair), Axel Dumas and Melissa Bethell.

ESG Committee: Ajay Banga (Chair), Melissa Bethell and Laurence Debroux.

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