Campari Groupannounced today that Matteo Fantacchiotti has resigned from his position as Chief Executive Officer and as a member of the Board of Directors, effective immediately. Fantacchiotti, who took on the CEO role in April 2024 from longstanding CEO, Bob Kunze-Concewitz (inside.beer, 12.9.2023), cited personal reasons for his departure after nearly five years with the company, during which he played a key role in expanding the group's presence in the Asia Pacific region. He had previously served as Deputy CEO since September 2023.
It is not clear whether the resignation is directly related to the investigations for allegedly evading EUR 1.2 billion in taxes by the group's Luxembourg-based parent company, Lagfin, which became public three months ago (inside.beer, 27.6.2024).
In response to his resignation, Campari Group has appointed Paolo Marchesini, Chief Financial and Operating Officer, and Fabio Di Fede, General Counsel and Business Development Officer, as interim co-CEOs. Both will also be executive members of a newly formed Leadership Transition Committee, tasked with selecting a new CEO. The committee will be chaired by non-executive Director Bob Kunze-Concewitz, who retired as CEO in 2023 after a 16-year tenure. The search for a new CEO will involve both internal and external candidates in line with corporate governance best practices.
In his statement, Fantacchiotti expressed gratitude towards the leadership and stakeholders of the group, noting it was a privilege to lead the organization. During his brief tenure as CEO, the company saw a 3.8% sales growth in the first half of 2024, following a double-digit rise in the previous year.
Campari Group Chairman Luca Garavoglia acknowledged Fantacchiotti's contributions, while emphasizing the company's continued focus on growth. "Our ambition for growth remains unwavering," Garavoglia said. "With our robust organization, global reach, and iconic brands, we are confident in our ability to sustain long-term, profitable growth."
Jean-Marie Laborde, a member of Campari Group's Board of Directors and its Control, Risks, and Sustainability Committee, has also been appointed Vice Chairman, adding to the leadership adjustments following Fantacchiotti's exit.
This leadership transition follows Campari Group's recent acquisition of a 14.6% stake in the owner of several well-known single malt whisky brands, further strengthening the company’s spirits portfolio (inside.beer, 18.9.2024).
