With an eye on the stock market, Italy’s Illycaffe picks new CEO

- Advertisement -


slide show (2 images)
- Advertisement -

MILAN (Businesshala) – Illicaaf has chosen cosmetic company Kiko’s current boss Christina Scocchia to become chief executive early next year as the Italian premium coffee maker prepares for a potential stock market listing.

The Ili family-controlled company said in January that Scochia would replace current CEO Massimiliano Pogliani, who became the first non-family member to take over the group five years ago.

- Advertisement -

Under his leadership, Illicaf completed the sale of a 20% stake to private equity firm Rhone Capital last February, opening its capital to an outside investor for the first time in its 88-year history.

Company President Andrea Illy said, “For the new growth cycle that will begin in 2022 and with future listings in mind, we have chosen Christina Scochia, recognized for her talent in developing brands with high aesthetic and experiential content. Received manager.”

Scotia has been on the board of Illicaf since 2019 and is also a board director for the glasses group EssilorLuxottica.

Illycaffe, which produces a blend made from nine varieties of Arabica beans, was founded by Andrea Illy’s grandfather Francesco and until February was 100%-owned by the family’s Illy Group holding company.

Andrea Illy told Businesshala in February that the coffee maker, based in the northeastern city of Trieste, may consider an exchange listing in the coming years, with his family not wanting to relinquish control even in the event of a stock market debut.

Reporting by Francesca Landini; Editing by Keith Weir

,

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox