Campari CEO Bob Kunze-Concewitz To Retire, Matteo Fantacchiotti Named As Successor

Longtime Campari Group CEO Bob Kunze-Concewitz will retire in April 2024, the company announced this morning. Current Campari Asia Pacific managing director Matteo Fantacchiotti has been named deputy CEO, effective immediately, and has been tapped to succeed Kunze-Concewitz upon his retirement.

Kunze-Concewitz, who will remain on Campari’s board post-retirement, is stepping away to “pursue his personal passions,” the company said. During Kunze-Concewitz’s 16-year tenure as chief executive, the Italian spirits player has expanded markedly. According to Impact Databank, Campari Group ranks sixth among all spirits marketers globally with 2022 volume of 33.5 million 9-liter cases, up 10% from the previous year. Since 2015, the company has added 6.5 million cases to its global total. Revenues reached nearly $3 billion on a 16% increase last year. The U.S. is the company’s largest market globally.

That growth has been fueled by both organic gains for brands like Aperol and Campari, along with a series of acquisitions—which totaled 27 purchases since 2007—including Grand Marnier, Appleton Estate, Wild Turkey Bourbon, and others—for an overall investment of €3 billion ($3.2b). Since May 2007, Campari’s market capitalization increased by over six times to €13.8 billion ($14.8b) today while net sales and profit both tripled. And its expansion plans remain robust, with analysts at Deutsche Bank recently noting that Campari has €30 billion ($33b) at its disposal to put toward potential transformative deals moving forward if it wishes.

“The very strong health of our brands and our robust organization now allow me to retire to pursue my personal passions and enjoy family life to the fullest,” said Kunze-Concewitz. “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.”

Fantacchiotti is credited with driving strong results in the group’s Asia Pacific region, bolstering Campari’s distribution and driving a “deep focus on the high end premium and ultra-premium brand portfolio, targeting high net worth individuals across the region.” Prior to joining Campari he spent more than 20 years in the beverage industry in Nestlé Waters, Diageo, where he held key roles in the development of the Global Luxury Division, and Carlsberg Group in various managerial positions.

“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,” said Campari chairman Luca Garavoglia. “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.”

Ugo Fiorenzo, Campari’s managing director, business unit Americas, will be among the featured speakers at The 47th Annual Impact Marketing Seminar in New York on October 4.—Daniel Marsteller

Tagged : Aperol, Appleton Estate, Campari, Espolón, Grand Marnier, Wild Turkey

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