Campari Group CEO announces retirement

After 18 years with the company, including 16 as CEO, Campari Group boss Bob Kunze-Concewitz has announced his plans to retire in April 2024, to pursue his personal passions.

Kunze-Concewitz informed Campari’s Board of Directors of his intention to retire as of the company’s Annual General Meeting on 11 April 2024. During his time as CEO Kunze-Concewitz has overseen 27 acquisitions, which have helped Campari grow by around three times in net sales and profitability.

That scale of leadership was recently recognised in the 2023 Developed Europe Executive Team ranking by Institutional Investor Research, which named Kunze-Concewitz as the Best CEO of the Beverages sector.

In accordance with Campari’s succession planning process, the Board of Directors has selected Matteo Fantacchiotti, Managing Director Asia Pacific, as the new CEO nominee. In order to ensure an orderly and smooth handover, Fantacchiotti has been appointed Deputy CEO effective immediately.

Kunze-Concewitz said: “Leading Campari Group has been an incredible honour, the most exciting professional journey in my career. We have achieved impressive results, which I am extremely proud of, but none of them would have been possible without the extraordinary contribution, passion and commitment of every single Camparista around the world.

“I am grateful for the trust and support that I have been always receiving from the management team and the Board of Directors, in particular our Chairman. We have been working closely with our Chairman and the Board of Directors to carefully prepare for this moment, as per the company’s corporate governance, enabling an orderly and smooth transition. I have said many times that this company is made of brands and people: we now have a portfolio made of some of the most admired brands in the spirits industry, taken care of by an amazing group of professionals worldwide.

“The very strong health of our brands and our robust organisation now allow me to retire to pursue my personal passions and enjoy family life to the fullest. I am very happy to pass the baton to Matteo, a top manager whom I personally recruited and who already contributed significantly to Campari, thanks to his leadership capabilities and deep expertise of the spirits industry, particularly in the super premium end.

“I am sure that Matteo, a true Camparista capable of passionately leading great extended teams and achieving strong results, will continue building our company, consistently with our long-term vision and bringing Campari to the next level of its accelerated growth pattern.”

Fantacchiotti added: “I feel honoured and proud about the appointment. Bob leaves Campari Group in a phenomenal position. The impressive achievements of the Group under Bob’s visionary leadership are an inspiration for me to continue on this journey, building on our proven growth strategy, in continuity with the past, combining a strong brand building with value enhancing acquisitions.

“Campari Group is today a very strong organisation, built on world class infrastructure, powerful brands and talented Camparistas. I look forward to continuing working with Campari Group’s management team which I will have the privilege to lead and with whom we will take our company to the next phase of its transformational growth journey.”

After retiring, Kunze-Concewitz is expected to become non-executive director of the Company; in this regard the Board of Directors will propose to April’s AGM, his appointment as non-executive director.

Luca Garavoglia, Group Chairman since 1994 said: “On behalf of the Board of Directors and personally, I would like to thank Bob for the amazing work done at Campari Group: during his tenure, Bob led our Company to achieve incredible results, making Campari Group a jewel of the spirits industry. His great passion and dedication were also instrumental to create a global team of uniquely talented Camparistas, and he leaves Campari Group in a perfect position to unlock future growth opportunities.

“In this long-planned transition, together with the Board I am now pleased to see the baton pass to Matteo, a leader with great experience in the spirits industry, who will be able to continue the path that Campari Group has had so far, in continuity with our proven growth strategy.”

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