Campari Group has announced the retirement of its CEO, Bob Kunze-Concewitz, after his outstanding 18-year tenure with the company. His retirement will take effect following the Annual General Meeting scheduled for April 11, 2024.
Bob Kunze-Concewitz has served as CEO for 16 years, during which he achieved remarkable growth for Campari Group, the group stated in a press release. Under his leadership, the company's net sales and profitability increased nearly threefold through a combination of organic growth and 27 strategic acquisitions, amounting to a total investment of EUR 3.0 billion since 2007. Kunze-Concewitz also built a highly capable and dedicated leadership team, established a successful brand-building strategy, and expanded the company's global presence.
Key highlights of his tenure include the impressive growth of core brands like Aperol, which saw a 12-fold increase in net sales since 2007, making it the Group's largest brand. Additionally, the relaunch of the Campari brand and the successful introduction of the proprietary Negroni cocktail enhanced the brand's global recognition. In the premium tequila category, Espolòn became one of the leading and fastest-growing brands in the U.S.
During his leadership, the company expanded from 6 to 25 in-market direct companies, accounting for approximately 93% of sales, and grew from 9 to 23 production facilities worldwide. His scalable model of systems and processes positions Campari Group for future M&A opportunities. The company's market capitalization increased over sixfold to EUR 13.8 billion, delivering an impressive Total Shareholder Return (TSR) of 13% annualized since May 2007.
Bob Kunze-Concewitz expressed gratitude for the trust and support he received from the management team and the Board of Directors. He emphasized the strong health of the company's brands and organization, which now allows him to retire and pursue personal passions fully. He will likely become a non-executive director of the company after retiring.
In line with succession planning, the Board of Directors has selected Matteo Fantacchiotti, Managing Director Asia Pacific, as the new CEO nominee. Fantacchiotti has been appointed Deputy CEO immediately to ensure a smooth handover.
Matteo Fantacchiotti has an extensive background in the beverage industry, including roles at Nestlé Waters, Diageo, and Carlsberg Group. He brings leadership capabilities and deep expertise in the spirits industry, particularly in the super-premium segment.
According to the announcement, Campari Group is poised for continued growth and transformation under Fantacchiotti's leadership, building on the company's successful brand-building and value-enhancing acquisitions strategy.
Luca Garavoglia, Group Chairman, praised Bob Kunze-Concewitz for his remarkable contributions to Campari Group, and expressed confidence in Fantacchiotti 's ability to lead the company's future growth opportunities while maintaining the proven growth strategy.
The nomination of Matteo Fantacchiotti as the new Executive Director will be submitted to the next Annual General Meeting in April 2024, with the appointment as CEO to be resolved by the Board of Directors.