The Bianconeri chief was happy with the work of the former midfielder over the past three years and says the club was lucky that Massimiliano Allegri was available.
Conte stunned Bianconeri supporters when he resigned from his post last month after guiding the club to three Serie A titles in his three years in charge, with some speculating a disagreement over transfer policy as a major factor in his decision.
While Agnelli says he will always be grateful for Conte's efforts as both a coach and a player in Turin, he has stressed both he and the 45-year-old came to the agreement that his departure was the best option for all concerned.
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"Firstly I must say I'm very happy with the job that's been done over the last three years," he told Fox Sports Asia. "Conte left us after winning three Serie A titles in a row, as well as the ones he won as a player.
"In the end we decided together he would leave the dugout and I'm glad we were able to work things out with [director general Giuseppe] Marotta and [sporting director Fabio] Paratici over the next few hours."
Agnelli believes he was fortunate to have a readily available replacement in Massimiliano Allegri and is looking forward to sustained success in the coming years.
"We were lucky to find him available," he said. "We now start a new adventure with Max, with the same desire to win as always."