Why Campari can benefit from smooth CEO transition [Yahoo! Finance]
Diageo plc (DEO)
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diageo.com/en/investors
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Source: Yahoo! Finance
Recounting the CEO's long list of highs over his 17-year tenure, it suggested that his “flagship achievement” was the acquisition of Aperol. It would be hard to argue with that assessment, if it weren't for the inconvenient fact that Campari announced the Aperol deal (part of its €150m Barbero 1891 acquisition) in December 2003, almost two years before Kunze-Concewitz joined the business – and about three-and-a-half years before he became CEO. But never mind. Kunze-Concewitz may not have masterminded buying Aperol but he did oversee its remarkable transformation from middling aperitif brand to global powerhouse, responsible, at the last count, for 24% of the much-expanded company's global sales. No wonder that some financial commentator wags have suggested renaming the business Aperol Group. Beyond correcting the record, we don't need to dwell long on Kunze-Concewitz' undoubted successes – not only the development of Aperol, but also the savvy acquisitions of Wild Turkey, Applet
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