Campari Group’s Matteo Fantacchiotti has stepped down as chief executive officer and member of the Board of Directors. Fantacchiotti took over the role in April 2024. He cited “personal reasons” as the reason for his departure. Campari said that it came to a mutual agreement with Fantacchiotti to terminate the employment relationship.

 

The Campari Board of Directors has appointed Paolo Marchesini, chief financial and operating officer, and Fabio Di Fede, general counsel and business development officer, as interim co-CEOs. The interim CEOs will become executive members of a Leadership Transition Committee, to be chaired by non-executive director Bob Kunze-Concewitz.

 

The new committee will work with the company’s Remuneration and Appointment Committee to select a new CEO.

 

Jean-Marie Laborde has also been appointed as vice chairman. Laborde is a current member of the Board of Directors of Davide Campari-Milano NV and member of the Control, Risks and Sustainability Committee.

 

Fantacchiotti said: “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. 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.”

 

Luca Garavoglia, chairman of Campari Group, added: “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 date of resignation, Fantacchiotti holds 2,988 shares of the company. The economic terms of his resignation are “still to be defined and formalised”, said Campari.