Italian spirits group Campari has announced that its Matteo Fantacchiotti is resigning with immediate effect, due to personal reasons.
Fantacchiotti had taken on the role in April 2024, succeeding long-standing CEO Bob-Kunze Concewitz.
"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," Fantacchiotti commented about his departure. "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."
Leadership Transition
Kunze Concewitz will now return to chair a leadership transition committee also comprising chief financial and operating officer Paolo Marchesini and the group's general counsel and business development officer Fabio Di Fede, who have been named interim co-CEOs, it said.
This committee, along with the remuneration and appointment committee, will oversee the process of selecting a new CEO, Campari said, considering both internal and external candidates in accordance with best governance practices.
Additionally, Jean-Marie Laborde, a current board member, has been named as vice chairman.
'Growth Ambition'
Commenting, Campari chairman Luca Garavoglia said, "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."
As of his resignation, Fantacchiotti held 2,988 shares in the company. Both parties have agreed to terminate the employment relationship, with the economic terms of the departure yet to be finalised.
Additional reporting by ESM
