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Unlike most Italian club presidents, Cobolli Gigli did not own Juve and was appointed to represent the club at meetings, however, his contract has not been renewed.
The Turin giants, now back in the upper echelons of Serie A and the UEFA Champions League, are controlled by the investment firm of Italy's powerful Agnelli family.
While Cobolli Gigli's position has been the subject of intense speculation recently, it has now been confirmed that the club will have a new president from next week.
"Blanc will be the new Executive President," confirmed Agnelli heir John Elkann. "I want to thank Cobolli Gigli for these three very difficult years, in which he has given so much.
"On 12th October Blanc will be nominated the Executive President and assumes both roles."
Source: Sky Sports
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