Campari Group Announces Major Leadership Transition with Appointment of New CFO

Campari Group, the renowned Italian spirits and wine company behind iconic brands like Aperol and Wild Turkey, has announced a significant change in its executive leadership. Paolo Marchesini, who has served as the company’s Chief Financial and Operating Officer for nearly three decades, will step down from his role by the end of 2025.

Following his departure, he will transition to Vice-Chairman of the Board of Directors for a three-year term, ensuring a smooth transfer of knowledge and strategic continuity.

A Legacy of Transformational Growth

Paolo Marchesini has been a central figure in Campari Group’s journey since joining in 1997. As the company’s first CFO, his 28-year tenure was marked by remarkable expansion and strategic redirection. He was instrumental in shaping the company into a global powerhouse in the fine wine and spirits industry.

Under his guidance, Campari successfully acquired and integrated 40 businesses while divesting 12 non-core brands. This strategic portfolio management was crucial to the company’s expansion into key international markets. His financial leadership yielded impressive results, with Campari’s share price increasing sevenfold and delivering an average annual shareholder return of 10.1%. Marchesini’s influence helped transform Campari into a leader in the luxury spirits market, catering to a discerning global clientele, including Ultra High Net Worth Individuals (UHNWIs) who increasingly drive growth in the premium sector.

Beyond finance, Marchesini also oversaw global supply chain operations and IT, skillfully integrating efficiency with the innovation required to support a growing portfolio of premium brands.

Introducing Francesco Mele

Francesco Mele is set to take the helm as Chief Financial Officer in the fourth quarter of 2025. He brings a wealth of experience in finance and leadership to the role. His impressive background includes serving as Chief Investment Officer at Cassa Depositi e Prestiti (CDP) and CEO of CDP Equity. He has also held senior positions at Monte dei Paschi di Siena, Illimity Bank, and major investment banks like Goldman Sachs and Nomura.

Mele is already familiar with Campari Group, having first collaborated with the company in 2003 as an advisor on its acquisition of Aperol—one of the most successful transactions in its history. His appointment signals Campari’s commitment to maintaining its aggressive growth strategy while navigating the evolving demands of the global spirits market, particularly the rising interest from UHNWIs in rare and heritage-driven products.

Strategic Outlook and Future Direction

This leadership change occurs at a pivotal moment for Campari Group. After facing a challenging start to the year with a 4.2% sales decline in Q1 2025, the company reported a return to growth in the second quarter. This follows a 2.4% increase in full-year sales for 2024, demonstrating the resilience of the fine wine and spirits sector amidst economic shifts.

The global market for fine wine and spirits continues to attract strong interest from the world’s wealthiest consumers. With over 395,000 UHNWIs worldwide, particularly in North America and Europe, the demand for collectible editions and ultra-premium spirits is on the rise. This trend positions Campari to leverage its heritage brands and strengthen its footing in the super-premium segment.

To streamline focus, Campari Group CEO Simon Hunt will take over responsibility for global supply chain operations beginning in Q4 2025. This will allow Mele to concentrate on driving financial growth, shaping operational strategy, and leading international expansion.

Marchesini expressed his confidence in the transition, stating his belief that Mele will guide the company to new successes. This evolution in leadership aligns with Campari’s long-term vision of sustainable growth and innovation, reinforcing its position as a global leader in the fine wine and spirits market while honoring its rich Italian heritage.