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Campari CEO Matteo Fantacchiotti steps down
The CEO of Campari Group, Matteo Fantacchiotti, has resigned from the company after fewer than six months in the role.
Fantacchiotti, who became CEO of the Italian drinks group in April 2024, has resigned from the role and as a board member due to personal reasons. The move is effective from today (18 September).
Fantacchiotti joined Campari Group in January 2020 to lead Asia Pacific, helping to enhance the firm’s route to market in the region and establish a regional hub in Singapore.
He then became deputy CEO in September 2023 when Kunze-Concewitz announced his retirement after 16 years as CEO of Campari.
Fantacchiotti said: “It has been a privilege for me to be part of Campari Group for almost five years and to lead this organisation since April 2024.
“While I have now taken the decision to leave, I express my deepest gratitude to all stakeholders, particularly the chairman, the board of directors and the leadership team.”
The board of directors has appointed Paolo Marchesini (chief financial and operating officer) and Fabio Di Fede (general counsel and business development officer) as interim co-CEOs.
They will also become executive members of the leadership transition committee, which will be responsible for finding a new CEO. The committee is chaired by Kunze-Concewitz, who is a non-executive director.
‘Solid future ahead’
During Fantacchiotti’s short tenure as CEO, the group’s sales rose by 3.8% in the first half of 2024, after a double-digit increase last year.
Campari Group chairman Luca Garavoglia added: “Our growth ambition remains very strong. We have a very solid future ahead thanks to our robust organisation, our global footprint, and particularly our unique portfolio made of some of the most admired brands in the spirits industry nurtured by a committed team of professionals.
“In continuity with the past, we’ll continue focusing on building our brands to keep on generating profitable growth and industry outperformance in the long run, as we have done since we went public in 2001.”
Additionally, Jean-Marie Laborde, a member of the board of directors and a member of the control, risks and sustainability committee, has been named vice-chairman of Campari Group.
Fantacchiotti and Campari Group have mutually agreed to proceed with the termination of his employment, with the economic terms still to be formalised.
As of the date of resignation, Fantacchiotti holds 2,988 shares in the company.
Fantacchiotti previously worked for Carlsberg, Nestlé Waters, and Diageo in roles in the global luxury division.
The announcement came a day after Campari purchased a 14.6% stake in the owner of single malt whiskies Bunnahabhain, Deanston and Tobermory for £69.6 million (US$92m).
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