Campari Group has announced the departure of CEO Matteo Fantacchiotti with immediate effect.
The news, confirmed today (18 Sept), comes only five months after Fantacchiotti moved up to the lead role. Campari Group said his resignation was “due to personal reasons”.
In the immediate term, CFO & COO Paolo Marchesini will work with general counsel & business development officer Fabio Di Fede to fill the CEO position jointly as interims. At the same time, a “leadership transition committee”, chaired by former CEO Bob Kunze-Concewitz, will commence the search for a longer-term replacement.
Both internal and external candidates will be assessed, the group said.
Fantacchiotti joined Campari Group from Carlsberg, where he had been VP for Asia, at the start of 2020. Staying in the region initially as MD, he moved up to deputy CEO in September last year when then-CEO Bob Kunze-Concewitz announced his intention to step aside after 16 years. The leadership transition to Fantacchiotti, who also spent ten years with Diageo from 2006 to 2016, completed in April.
“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,” said Fantacchiotti today. “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.’
Campari Group’s share price has taken a hit following the announcement: As of 10.35 CEST today, shares were down by 5% on yesterday’s close.
Earlier this week, the Milan-headquartered company confirmed its latest M&A move, spending just over US$90m on a minority stake in the owner of the Bunnahabhain, Deanston, Ledaig and Tobermory single malt scotch whiskies as well as the Black Bottle and Scottish Leader blended brands.
