Campari Group has officially appointed Simon Hunt as the company’s new CEO, after Matteo Fantacchiotti stepped down from the post for personal reasons a few months ago. Simon Hunt, who will be appointed at a general meeting scheduled for Jan. 15, will succeed current interim co-CEOs Paolo Marchesini, chief financial and operating officer, and Fabio Di Fede, chief legal and m&a officer.
Campari currently faces declining demand, particularly in the United States, following a surge in consumption during the pandemic. In its latest results for the third quarter, the well-known spirits brand reported earnings and sales below analysts’ outlooks and said that “its performance was hurt by declining U.S. sales and bad weather in Europe.”
With his 30 years of experience in premium spirits, Hunt is known in business and economics as an industry veteran with solid experience in accelerating corporate growth paths and building global brands. In particular, the expert has expertise in international markets, especially the strategic U.S. market.
In fact, Hunt began his career at Diageo, the company behind brands such as Johnnie Walker scotch and Smirnoff vodka. Hunt also worked at French distiller Pernod Ricard and, in 2022, was named CEO of global spirits incubator Catalyst Spirits. according to Deutsche Bank analysts, overseas sales are a significant part for European spirits producers, and in particular for the Campari brand, which plays a significant role in U.S. imports. The news has already sent Campari shares up 4.3 percent in European trading.
