Campari Group is reshuffling a top executive position as CFO and COO Paolo Marchesini leaves his role and becomes vice chairman of the company’s board of directors.
The move, which Campari said was a “consensual decision”, will see Francesco Mele take on the chief financial officer role in the fourth quarter of 2025.
Marchesini will assume on the vice chairman position until 2028.
He joined the company in 1997, holding the group chief financial officer role and then becoming chief financial and operating officer “after extending his responsibilities to information technology and global supply chain”, Campari said.
Following Marchesini’s move, his former position is to be split, with Mele taking responsibility for managing finance, global business services, and IT, while the global supply chain function will be overseen by group CEO, Simon Hunt.
Campari credited Marchesini with playing a “key role in driving both the organic and external growth” during his tenure.
Marchesini led the group on an interim basis after Matteo Fantacchiotti stepped down as CEO last year after just five months.
Luca Garavoglia, chairman of Campari, said: “I would like to thank Paolo personally, and on behalf of the Board of Directors, for his hard work and incredible contribution to the company’s success in the past decades.
“I have therefore welcomed his move from an operational role to one where he could bring his great strategic oversight, and I am truly delighted with his promotion as vice chairman of the board.”
Incoming CFO Mele joins the Courvoisier Cognac owner from CDP Cassa Depositi e Prestiti (CDP), Italy’s national promotional bank, where he was chief investment officer.
His prior experience also includes being CEO at CDP Equity, the investment holding arm of CDP.
Commenting on the news, Marchesini said: “Now, I feel deeply honoured by the recognition of being promoted to the vice chairman role on the board of directors. I am also delighted to hand over to Francesco, a solid manager with international experience, whom I have known for many years. I am confident he will do a great job and that the company will continue to go from strength to strength under this leadership.”
In the first half of the year, the Aperol brand owner reported net sales of €1.53bn (then $1.75bn), marking a 0.3% year-on-year increase. EBIT rose by 1.6% to €340.9m, though adjusted EBIT declined by 2.3% to €352m. The group’s net profit decreased by 6% to €206.4m.
In June, Campari reached an agreement to sell assets, including the vermouth brand Cinzano, to Italian distiller Caffo Group 1915.
