Campari: CEO Departure a Surprise; No Change to Our Fair Value Estimate
On Sept. 18, no-moat Davide Campari-Milano announced the resignation of its CEO Matteo Fantacchiotti due to personal reasons. Fantacchiotti’s tenure as CEO was brief at just five months. He succeeded longtime CEO Bob Kunze-Concewitz. The firm has appointed CFO Paolo Marchesini and Business Development Officer Fabio di Fede as interim co-CEOs.