The longstanding head of Campari Group has called time on his 16-year tenure, with Bob Kunze-Concewitz set to vacate the position next year.
The move, lined up for Campari Group’s AGM on 11 April, also sees Asia Pacific MD Matteo Fantacchiotti move up to become deputy CEO with immediate effect, prior to replacing Kunze-Concewitz at the top. After 16 years of leading the Aperol brand owner, Kunze-Concewitz will transition to the board as a non-executive director while “pursuing his personal passions”.
Following the announcement, the company’s share price fell by almost 6% on this morning’s opening, hitting its lowest point since March.
“I would like to thank Bob for the amazing work done at Campari Group,” said chair Luca Garavoglia. “During his tenure, Bob led our company to achieve incredible results, making Campari Group a jewel of the spirits industry. He leaves Campari Group in a perfect position to unlock future growth opportunities.”
Fantacchiotti has been with the company since January 2020, when he left Carlsberg after just over three years. His career in beverage alcohol also includes a ten-year stint with Diageo, from 2006 to 2016, where he started as a sales director for Italy before finishing up as global VP commercial for the company’s ‘reserve brands’ division.
Today’s news is the latest in a longer-than-usual line of CEO changes in beverage alcohol this year. As well as Campari Group, Beam Suntory, Carlsberg, Diageo and Stoli Group have all undergone leadership switches in the last 12 months.
