Campari Group has announced the appointment of Simon Hunt as its new Chief Executive Officer, marking a significant step forward for the company as it navigates recent challenges. Hunt, who holds both British and Australian citizenship, brings over three decades of experience in the spirits industry, having held various leadership positions in renowned companies. His appointment comes after a tumultuous period for Campari, including ongoing tax investigations involving its parent holding, Lagfin, and the abrupt departure of former CEO Matteo Fantacchiotti.

The transition in leadership follows a notable governance disruption, occurring just months after Fantacchiotti took over from long-term CEO Bob Kunze-Concewitz. Under Kunze-Concewitz’s guidance, Campari established itself as a leading global player in the alcoholic beverages sector. However, the company has faced declining stock prices that have recently dropped to levels not seen since the onset of the COVID-19 pandemic, exacerbated by adverse weather conditions that affected summer sales.

Simon Hunt’s extensive background in premium spirits positions him well to lead Campari into its next chapter. His career began at Diageo, where he steadily climbed the corporate ladder before spending 14 years with William Grant & Sons, a company celebrated for its extensive portfolio of single malt Scotch whiskies, gin, and tequila. Most recently, Hunt served as CEO of Catalyst Spirits, an incubator for spirit brands, where he spearheaded strategic initiatives and brand innovation through digital platforms.

As Campari approaches a critical juncture, Hunt faces the challenge of revitalizing the brand portfolio amidst external pressures, including potential tariffs from the United States and ongoing trade tensions with China. These factors pose significant hurdles for the company as it seeks to maintain its competitive edge in the global market. Hunt will officially take over from the current interim co-CEOs, Paolo Marchesini and Fabio Di Fede, who have managed the company during this transitional phase. The formal handover is set to occur on January 15, during a specially convened assembly.

Luca Garavoglia, the chairman of Campari Group, expressed confidence in Hunt’s leadership, stating, “His extensive experience in the industry, combined with his ability to build and develop premium brands globally, will be crucial for guiding Campari Group through its next growth phase.” Garavoglia believes that Hunt’s skills, energy, and determination will help Campari reach new heights as the company continues to evolve its House of Brands strategy.

The market has shown a slight uptick, with Campari’s stock rising by 2.7% recently. However, the company still faces a challenging year, with share prices down 37% since the beginning of 2023 and far from the peak of €10.3 reached earlier in the year. The industry will be closely watching Simon Hunt’s moves as he aims to optimize the brand portfolio in a competitive landscape.