Massimo Calvelli's role as AC Milan's new CEO has been clarified, with details emerging about his duties and powers. Calvelli was appointed on June 25th and registered in the Company Register two days ago, with a term lasting until June 30th, 2027. His responsibilities include managing transfers, employee and executive management, and institutional relations with national and international federations.

Calvelli has individual signature power for transactions worth up to €50m, including transfers, sponsorship agreements, and banking transactions. He also oversees the new stadium project and external communications. For larger transactions, Calvelli requires joint signature power with either CFO Stefano Cocirio, President Paolo Scaroni, or owner Gerry Cardinale.

The CEO's remit also includes judicial representation, signing sponsorship agreements, and managing ordinary banking transactions. Calvelli's appointment marks a significant change in AC Milan's leadership, with the club looking to strengthen its operations and make key decisions.

Calvelli's role will be crucial in shaping AC Milan's future, with the club set to make important decisions in the coming months. His powers and responsibilities have been clearly defined, and he will work closely with other key figures in the club.