John Elkann
John Elkann | |
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John Philip Jacob Elkann (born 1 April 1976) is an Italian industrialist. In 1997, he became the chosen heir of his maternal grandfather
Elkann chairs the automaker
Early life and family
Born in New York City on 1 April 1976,
Elkann attended primary school in both the United Kingdom and Brazil,
Career
While pursuing a degree in engineering, Elkann gained work experience through several internships. They included a headlight plant in Birmingham, England (1996); a production line in Tychy, Poland (1997); a car dealership in Lille, France (1998); and at General Electric's corporate initiatives group where he worked on a thesis on e-auctions (1999).[27][28] In December 1997, at the age of 21,[25][29] he was selected as the heir of his grandfather Gianni Agnelli in place of Giovanni Alberto Agnelli, the son of Gianni's younger brother, Umberto Agnelli,[25] who had died at the age of 33.[30][31] He was appointed to the Fiat S.p.A. board that same year,[32][33][34] when he was 22, the same age his grandfather Gianni also joined it in 1943,[27] and to the board of Giovanni Agnelli Sapaz (now Giovanni Agnelli B.V.), the family partnership controlling Exor.[27][28]
In 2000, after graduating in Engineering from the Polytechnic University of Turin, he joined General Electric's Corporate Audit program. He left General Electric two years later;
After the death of Gianni in 2003,
In February 2011, Elkann was appointed chairman and CEO of Exor.
In a November 2013 interview to Campden FB, Elkann said he wanted to change capitalism. He said: "There is an alternative to financial investors and professional investment managers, and that's what we want to be. You need to be able to portray business to society in a favourable way. All the emphasis has been on shareholder value, not stakeholder value. One of the benefits of family businesses is they focus on all stakeholders."[67] Guido Corbetta, a professor at Bocconi University in Milan and a family business expert, said that one of the biggest achievements at Exor was the management of the succession to Elkann from his grandfather. Corbetta said: "He was dominant. Anyone succeeding him would have huge shoes to fill. But the fact that Elkann has done so and managed to beat his own path, distancing himself a lot from his grandfather's particular style of running businesses and being successful, is a great achievement for Fiat, the Agnelli family, and even more so Elkann."[68] In 2015, Elkann acquired the insurer company PartnerRe[19] and took part at Ferrari’s debut as a listed company in stock exchange in Wall Street.[69][70]
Having previously held a seat on
In July 2018, a few days before the death of Marchionne, Elkann was chosen to take his place at Ferrari.
In March 2020, Elkann and FCA's board of directors agreed to forego their remaining compensation for 2020 due to the
In two January 2023 interviews to La Repubblica and La Stampa,
On 15 May 2023 he announced as a founder the launch of Lingotto, an investment management company fully owned by Exor and headquartered in London.[94]
Sports
Juventus F.C.
As CEO of Exor, Elkann represents the ownership of
Ferrari
As Executive Chairman of Ferrari, Elkann has a controlling interest in the auto racing team Scuderia Ferrari, which most notably competes in Formula One as a constructor[98] and at the 24 Hours of Le Mans, where it returned as a protagonist in 2023, winning the centenary edition of the race after a fifty-year period of absence as a car manufacturer.[99]
Philanthropy
Elkann supports various philanthropic activities. He is chairman of the Agnelli Foundation, a non-profit organization supporting education through scientific research and initiatives.
Education and research
Since 2014, Fondazione Agnelli has offered Italian students and their families a free online portal where they can find which secondary schools in their area provide the best preparation for university and the workplace.[100] Together with Compagnia di San Paolo through Fondazione Agnelli he launched Torino fa scuola, a project dedicated to the renovation of school buildings in the city area.[101]
Starting from July 2020, Elkann supported the launch and expansion of the Arcipelago Educativo project, co-designed and promoted by the Agnelli Foundation, Exor, and Save the Children to fight the risk of dropping out of students due to the lockdown caused by the COVID-19 pandemic.[102]
In April 2019, along with CERN's Director-General Fabiola Gianotti and the Italian architect Renzo Piano, Elkann participated in a media event to unveil Science Gateway, a new scientific education and outreach centre of CERN, which aims to share knowledge and technology for free with society.[103] The project was funded through external donations, through the Stellantis Foundation as the main supporter.[104] On 21 June 2021 he celebrated a further step forward with the laying of the first stone, and then attended the official inauguration in October 2023, where he remembered Sergio Marchionne, to whom the auditorium of the structure is dedicated.[105][106]
Emergency aid
In May 2019, Elkann took part to the 28th edition of the
Personal life
Elkann was baptized and raised
Innovation and technology
An engineer by training, he declares himself passionate about technology and pursues interests in this field. Since 2009, Elkann has been attending the annual media and tech conference organized in July every year by Allen & Co at
In February 2018, Elkann appeared as one of the protagonists on the podcast series by
In December 2021, he was included in Bloomberg's list of the "50 Most Influential people and ideas that defined global business in 2021" for the merger of FCA with the PSA Group to form Stellantis, which started its trading with a $52.7 billion market value.[138]
Through Exor Ventures (formerly known as Exor Seeds), an investment program dedicated to startups, he has invested over 500 million euros in innovation and entrepreneurship projects since 2018. Starting from 2022, through Vento, he is launching venture building calls specifically aimed at young entrepreneurs.[139]
Yachting and motorsport
A yachtsman, Elkann took part as owner in the March 2012
In 2013, Elkann participated in the
In May 2016, Elkann took part in the 100th edition of the Targa Florio car race in Palermo.[168][169] In January 2020, he participated in the 16th edition of the Cape2Rio aboard Soldini's VOR70 Maserati, sailing 3.600 miles from Cape Town to Rio de Janeiro.[170][171] In October 2020, once again aboard with Soldini, he conquered the first position at the 41st edition of the Rolex Middle Sea Race with the Maserati Multi 70.[172][173] In August 2021, he kicked off the 89th edition of the 24 Hours of Le Mans, which saw the participation of the new Le Mans Hypercar, a class in which Ferrari would enter starting from 2023.[174]
Offices
Elkan is the chief executive officer of
Awards and honours
- Appeal of Conscience Award, September 2010.[179]
- Nominated Knight of the Order of Merit for Labour in the Italian automotive industry, May 2021.[5]
Ancestry
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Notes
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- ^ "Participant Profile: John Elkann". Bilerberg Meetings. 5 June 2015. Retrieved 24 February 2023.
- ISSN 0099-9660. Retrieved 6 March 2023.
Meanwhile, John Elkann, the young and dashing chairman of the Fiat Group, received an Appeal of Conscience Award 'for his contribution to international and intercultural cooperation, and humanitarian endeavors.'
Bibliography
- Clark, Jennifer (21 November 2011). Mondo Agnelli: Fiat, Chrysler, and the Power of a Dynasty. Hoboken, New Jersey: John Wiley & Sons. ISBN 978-1-118-23611-6. Retrieved 24 February 2023 – via Google Books.
External links
- 2023 Forbes profile (in English)
- Elkann, John Jacob Philip at Treccani (in Italian)
- John Elkann at Biografie oonline (in Italian)
- Registrazioni di John Elkann at Radio Radicale (in Italian)