Surprise this morning at Campari: the Milanese house of Spritz has announced the resignation of Matteo Fantacchiotti from the role of CEO and member of the Board of Directors, effective immediately, for personal reasons, says a note, after only 5 months from his arrival. title in Piazza Affari, already under pressure, loses this morning over 5%. In the last month has lost more than 12% and 25% in the last six months.
Matteo Fantacchiotti holds 2.988 Campari shares. Following his resignation as a member of the board of directors, Matteo Fantacchiotti and the company have also reached a mutual agreement for the termination of the current employment relationship. The economic terms of this termination are still being defined and formalized.
Interim Charges: Bob Kunze-Concewitz Returns
Pending the new appointments, the Board of Directors has decided to appoint co-CEO Paul Marchesini (CFoo) and Fabio Of Faith (General counsel and business development officer). They have also been appointed as executive members of a Leadership Transition Committee, which will be chaired by Bob Kunze-Concewitz (non-executive director). The latter had discharged last April, after 17 years of leadership at the helm of the Campari group, pocketing a bonus of 30 million euros, as approved by the Board of Directors on the proposal of the Remuneration and Nomination Committee.
This committee, together with the Remuneration and Nomination Committee, will also be responsible for theidentification of the new Chief Executive Officer, to be proposed to the board of directors after an evaluation of both internal and external profiles, in line with best practices in governance, says a note, to whom to entrust the leadership of a multinational company worth almost three billion euros revenues and 729 million ebitda. At the same time, Jean-Marie Laborde, currently a member of the Board of Directors of Davide Campari-Milano NV and a member of the Control, Risk and Sustainability Committee, he is appointed Vice President.
Luca Garavoglia, Chairman of the Board of Directors, stated “our growth ambition remains very strong. We have a solid future ahead of us, thanks to our strong 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 unwavering commitment of a team of professionals”.
The recent move in whiskies
Just a few days ago, Campari had put 14,6% of Capevin in its portfolio. The seller was Odc Limited, a shareholder of the South African holding company that controls Cvc Spirits ltd, a Scottish company active in the production and sale of the single malt whisky brands Bunnahabhain, Deanston, Tobermory and Ledaig, and blended whisky Scottish Leader and Black Bottle.
This summer the Revenue Agency, on the basis of a complex investigation by the Economic and Financial Unit of the Guardia di Finanza of Milan, had asked the companies of the Garavaglia family the payment of 1,2 billion euros in taxes. In addition, the case has been brought before the prosecutor's office.
