Campari Shares Surged More Than 520% Under Retiring Veteran CEO
- Kunze-Concewitz helped oversee a revival in cocktail demand
- Matteo Fantacchiotti is set to take over the CEO role in April
An Aperol cocktail
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Spirits maker Davide Campari-Milano NV saw its shares rise more than 520% during the 16-year tenure of retiring Chief Executive Officer Bob Kunze-Concewitz, who oversaw a surge in demand from European and US drinkers for the company’s namesake product.
Amid a revival for Italian cocktails including Negroni and Aperol Spritz, the gains since Kunze-Concewitz’s May 2007 appointment as CEO far outpace the Stoxx Europe 600 Index, up 16%, and Italy’s benchmark FTSE MIB, which has declined 35% over the same period through Monday.