Inter name Facchetti as chairman
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Moratti had been in charge since 1995
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MILAN, Italy -- Former Inter Milan and Italy defender Giacinto Facchetti has taken over as Inter's chairman following the resignation of Massimo Moratti.
Facchetti, previously vice-chairman, was Moratti's choice as his successor.
"He's the right man in the right place," said Moratti, who said he planned to keep his majority stake in the club.
"It's not a drama, it's a decision that allows me to take a step back, which allows me to see things better, and nothing else," Moratti told Inter's Web site. "There will not be a change of ownership."
Four other directors also resigned on Monday; Marco Tronchetti Provera, Paolo Giulini, Angelo Mario Moratti and Angelo Moratti -- Moratti's son and grandson.
After years of underachievement, the Serie A giants are once again enduring a disappointing season, falling 11 points behind leaders Roma following Saturday's home defeat by Empoli -- their third league loss in four games.
"Yesterday's game was certainly not the best from any point of view," Moratti said after declaring his decision to step down.
In October Moratti sacked coach Hector Cuper, who steered the club to the semifinals of the last year's Champions League, and appointed Alberto Zaccheroni, but the change wasn't enough to prevent Inter's elimination from the first round of this season's competition.
Zaccheroni was Moratti's ninth coaching appointment since he became chairman in 1995.
After selling Ronaldo to Real Madrid before last season, the club were criticized for a lack of ambition by star striker Christian Vieri after his strike partner Hernan Crespo was allowed to join Chelsea prior to this campaign.
Inter have won 13 Serie A titles, but the last of those was in 1989. Moratti has spent almost $400 million on players but Inter's sole success during his chairmanship has been the 1998 UEFA Cup.
Moratti, who also stepped down in similar circumstances in 1999 but was soon back in charge.
Inter's Turkish midfielder Emre Belozoglu said he hoped Moratti would again be persuaded to continue.
"Hes given everything to this club and put in money that has enabled us to build a competitive squad," said Emre.
"He deserved so much but we have given him nothing. I hope he reconsiders his decision."
