The CEO of Campari, Bob Kunze-Concewitz announced his withdrawal from the company after 18 years of service, of which 16 years were spent as CEO. Her resignation they will become effective after approval by the Shareholders' Meeting on 11 April 2024.
The Board of Directors has chosen Matteo Fantacchiotti, current managing director of Campari's Asia-Pacific operating unit, as new CEO. To ensure a smooth and gradual transition, Matteo has been appointed Deputy CEO with immediate effect. After retiring, Kunze-Concewitz will maintain a role in the company by taking on the role of non-executive director.
Kunze-Concewitz's successes
Bob Kunze-Concewitz has been CEO of Campari Group for the last 16 years. During his tenure, he contributed significantly to the company, increasing net sales and profitability by approximately three times through a combination of organic growth and acquisitions, with a total of 27 acquisitions since 2007 for a total value of 3 billion. He has built a strong and cohesive leadership team, which has developed a successful brand building strategy, focused on highly profitable priority global brands and key regional brands. This strategy has led to the success of brands such as Aperol, which has increased net sales 12 times since 2007, becoming the Group's most important brand or Campari which has been relaunched with great success.
Also, it has expanded international presence of the Group, increasing the distribution networks and production plants (from 9 to 23). Market capitalization grew more than sixfold to €13,8 billion, and shareholder value was exceptional, with an annual TSR of 13%.
After his retirement, Kunze-Concewitz will be entitled to receive the last mile incentive bonus in accordance with the remuneration policy. Bob Kunze-Concewitz currently owns 500.170 shares of Campari common stock. Kunze-Concewitz decided to leave the company to dedicate herself to "cultivating his passions".
"Leading Campari Group was an honor, the most exciting professional path of my career. We have achieved extraordinary results, of which I am extremely proud, but none of these would have been possible without the extraordinary contribution, passion and commitment of all Camparistas around the world. I am grateful for the trust and support I have always received from the management team and the Board of Directors, in particular from the President" he commented Bob Kunze-Concewitz.
The profile of Matteo Fantacchiotti
The new Deputy CEO, Matteo Fantacchiotti, currently holds the position of Managing Director of the Asia Pacific Operating Unit. During his tenure, he successfully led the development of this strategic region through several initiatives strengthening Campari's presence in key markets such as South Korea, Japan, New Zealand and India, as well as establishing a regional hub in Singapore. Furthermore, he has focused on the portfolio of premium and ultra-premium brands, targeting high-income customers across the region.
Fantacchiotti has spent more than 20 years in the beverage industry, working in companies such as Nestlé Waters, Diageo (where he had a key role in the development of the Global Luxury Division) and Carlsberg Group. During this time, he held several management positions with increasing responsibilities, including managing markets, global sales and marketing activities, opening new business units and launching new initiatives in both emerging and developed markets around the world.
"I am honored and proud of the nomination. Bob leaves Campari Group in a phenomenal position. The extraordinary results achieved by the Group under Bob's visionary leadership are a source of inspiration for me to continue this journey, leveraging our proven growth strategy, in continuity with the past, combining a strong brand building activity with acquisitions aimed at generating worth. I look forward to continuing to work with the Campari Group management team, who I will have the privilege of leading and with whom we will take our company to the next phase of its accelerated growth journey” said the new Deputy CEO.
Greetings from President Garavoglia
"I would like thank Bob for the amazing work carried out in Campari Group. During his tenure, Bob led our company to extraordinary results, making Campari Group a global gem in the spirits industry. His great passion and dedication have also been instrumental in creating a uniquely talented global team of Camparistas, and he leaves the Group in an ideal position to seize future growth opportunities. In this transition, which has been planned for some time, together with the Board of Directors, I am pleased to see the passing of the baton to Matteo, a leader with great experience in the spirits sector, who will be able to continue the path undertaken by Campari, in continuity with our growth strategy" declared Luca Garavoglia, President of the Group since 1994 and representative of the majority shareholders through Lagfin.
Stock market shares down
The news of the change at the top did not please the Group's shareholders. The Campari stock is currently the worst on the stock market where it loses more than 5% (at 11,30 the stock loses 5,35%).
