Giovanni Ciccolunghi named Marseille president by Margarita Louis-Dreyfus

Marseille owner Margarita Louis-Dreyfus has appointed Giovanni Ciccolunghi as the new president of the club.

Ciccolunghi, 72, previously served as CEO of Adidas in Russia and was close to Louis-Dreyfus' husband Robert, who died in 2009.

Louis-Dreyfus, who is hoping to sell Marseille to new investors, has also appointed Jean-Rene Angeloglou to the board of directors. Angeloglou helped Robert Louis-Dreyfus to become the majority shareholder at the French club in 1996.

"The objective of the new team is to manage the club with a high level of professionalism and transparency in order to restore financial solidity and sporting success at Marseille in this transitional phase, in a way that will enable the new shareholder to build on solid foundations and to compete on a European level," Louis-Dreyfus said in a statement.

Ciccolunghi will officially replace Vincent Labrune as club president on July 25. Labrune, who was unpopular with some Marseille supporters, revealed last week that he would not be in charge this season.

Meanwhile, L'Equipe has tipped former Genk sporting director Gunter Jacob to take on a similar role with the 2010 French champions.