By David Sachs

Campari Group shares fell and were temporarily halted Tuesday after the Italian liquor company said Chief Executive Officer Bob Kunze-Concewitz would retire in April of next year and be replaced by Matteo Fantacchiotti.

At 0756 GMT, shares were down 5.9% at EUR11.16.

Fantacchiotti, managing director of the company's Asia-Pacific region, will take over as CEO in April of 2024, Campari said. He has been appointed deputy CEO in the meantime.

Kunze-Concewitz will remain on the board as a non-executive director, Campari said. He has been with the maker of Campari, Skyy Vodka and Aperol, among other brands, for 16 years, the company said.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

September 12, 2023 04:17 ET (08:17 GMT)

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