After only 5 months in office, Campari announces the resignation of Matteo Fantacchiotti from the role of CEO and member of the board of directors, effective today, for personal reasons. After the announcement, Campari’s share price at Piazza Affari is giving up about 5%.
The announcement
The company’s board of directors has decided to appoint Paul Marchesinichief financial and operating officer) e Fabio Of Faith (general counsel and business development officer) as interim co-CEO and executive members of a leadership transition committee, which will be chaired by Bob Kunze-Concewitz. This committee, together with the remuneration and nominations committee, will also be responsible for identifying the new CEO. At the same time, Jean-Marie Labordecurrently a member of the board of directors and member of the control, risk and sustainability committee, is appointed vice president.
The reasons for the farewell
“It has been a privilege for me to be part of Campari Group for almost five years,” said Fantacchiotti, “and to lead this organization since April 2024. In taking the decision to leave the Group now, I would like to express my deepest gratitude to all stakeholders, in particular the Chairman, the Board of Directors and the leadership team.”
In the note released by Campari, there are also thanks from Luca Garavogliachairman of the board, to Fantacchiotti and a look at the future of the group: “Our growth ambition remains very strong. We have a solid future ahead of us, thanks to our solid organization, our global presence and, in particular, our unique portfolio, made up of some of the most admired brands in the entire spirits sector, supported by the constant commitment of a team of professionals. In continuity with what we have done so far, our priority continues to be the construction of our brands, with the aim of continuing to generate profitable growth and outperform our sector in the long term, as we have done since our listing in 2001”.
Fantacchiotti’s career
“After graduating in Economics and Business,” reads the Campari press release announcing Fantacchiotti as the new deputy CEO, “he began his career in the cosmetics industry. He then spent more than 20 years in the beverage industry at Nestlé Waters, Diageo, where he held key roles in the development of the global luxury division, and Carlsberg Group in various managerial positions with increasing responsibilities ranging from market management, leading global sales and marketing activities, opening new business units and launching new activities in both emerging and developed markets across all geographies.”
Forbes Estimates
According to the Forbes Real Time Billionaires ranking, the president of Campari, Luca Garavoglia has a heritage of 3.5 billion dollars. Even the sister, Alessandraa member of the group’s board, is a billionaire and has an estimated net worth of 3 billion dollars.
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