Campari appoints Simon Hunt as new CEO. Share price rises

Simon Hunt, a spirits industry veteran, will be the new chief executive officer of Campari Group. The board of Davide Campari -Milan announced that the appointment is the result of an in-depth evaluation of internal and external candidates conducted by the Remuneration and Appointments Committee, the Leadership Transition Committee and the Board of Directors. Hunt will take over from current interim co-CEOs Paolo Marchesini, chief financial and operating officer, and Fabio Di Fede, chief legal and M&A officer.

The board of directors convened an ad hoc general meeting on 15 January 2025 to appoint Hunt as executive director. He will be CEO as of the date of the AGM. "I am confident that Simon's skills, personality, energy, leadership and determination will take Campari Group to new heights as we continue to implement our growth strategy and evolve into our new House of Brands operating model," said chairman Luca Garavoglia. In September, after only five months in office, Matteo Fantacchiotti, who had taken over from Bob Kunze-Concewitz, had resigned as CEO and board member for personal reasons and the two interim co-Chief Executive Officers had been appointed. After Hunt's appointment, the Campari share rose by 3% on the Italian Stock Exchange.

Garavoglia expressed gratitude to "Paolo Marchesini and Fabio Di Fede for their commitment to their role as interim Co-Chief Executive Officers, ensuring a successful governance transition, and for their continued support, collaborating with Simon and ensuring a smooth handover". He also thanked 'the Leadership Transition Committee, chaired by Bob Kunze-Concewitz as a non-executive director, the Remuneration and Nomination Committee and the entire BoD for their active support and significant contribution in the selection process'.

With over 30 years of experience in premium spirits, Simon Hunt, who started his career at Diageo, is an industry veteran and accomplished leader with a solid track record in accelerating business growth paths and building global brands. In particular, he spent 14 years at William Grant&Sons, owner of the world's best-selling single malt Scotch whisky portfolio, as well as relevant brands in the gin and tequila categories. Over the years, he has held roles of increasing responsibility, from President&Managing Director of North America to Chief Commercial Officer, until being promoted to Chief Executive Officer from 2016 to 2020. Most recently, after two years as a strategic advisor to Chief Executives and Boards of Directors of premium spirits companies, Simon Hunt was appointed CEO of Catalyst Spirits, a spirits brand incubator, in 2022. "During my more than three decades of experience in the spirits industry, I have always held Campari Group in high regard for its unique history, strong portfolio of iconic brands, corporate culture, continued outperformance and exceptional growth story," Hunt remarked, saying he was "honoured and excited to take on this extraordinary opportunity and I look forward to working with such a talented leadership team at Campari Group and the entire organisation to continue to build on the legacy and successes of the past decades, raising the Group's growth potential and ambition to even greater heights".