George Osborne takes on job number… 8! For major European investment firm
Seemingly not satisfied with being editor of London’s Evening Standard newspaper or taking on his reported, one-day-a-week, six-figure salary to advise BlackRock, the world’s biggest investment fund manager, or for that matter his myriad of academic appointments; Osborne has taken on another role to add to his expanding list.
Osborne will be chairman of the ‘partners council’ of Exor, the listed holding company of the Agnellis, who are said to be one of Italy’s wealthiest families, with an estimated fortune in excess of $13 billion, according to the Times.
The Agnelli family owns Italian football club Juventus, and car companies Ferrari and Fiat, as well as a number of other businesses, including US reinsurer PartnerRe.
Responding to the appointment, John Elkann – head of the family and chairman and chief executive of Exor, and whose personal worth is estimated at more than $800 million – said Osborne would “bring his unique knowledge and viewpoint to the council’s work.”
London Evening Standard editor-in-chief Osborne said in a statement: “I am delighted to have been asked to chair this impressive panel of business leaders.
“They bring a wealth of experience from different industries and geographies.
“I look forward to chairing discussion that I am sure will provide useful insights and ideas for Exor and its companies.”
Osborne was widely criticized for taking on a host of jobs while still an MP. He was announced to be the editor of the Evening Standard in March 2017. Labour’s Andrew Gwynne, the shadow secretary of state for communities and local government, described Osborne’s appointment as a “matter for great concern” that “does a disservice” to other MPs.
Several months later, following widespread criticism, he quit Parliament.
Now Osborne’s latest appointment could once again raise questions about how the ex-chancellor can juggle so many different jobs at once.
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