Excellent result of newly launched Employee Stock Ownership Plan (ESOP) reaching 51.6% participation rate
The strong response of Campari Group’s employees, deliberately contributing part of their salaries to ESOP, confirms their trust and long-term commitment to the company’s future growth
Milan, December 21, 2021 - Campari Group announces the very positive results of the participation to ESOP, the Employee Stock Ownership Plan dedicated to Campari Group employees worldwide.
After the closing of the enrolment period between October 18th and December 17th, Campari Group is now able to announce the participation rate of its employees who decided to join the ESOP, amounting to 51.6% of all eligible employees.
The first of its kind since the Company’s listing on the Italian stock market 20 years ago, the ESOP is yet another testimony of Campari Group’s ever stronger and long lasting commitment towards its people in line with the long-term perspective which has always characterized its strategic vision.
Giorgio Pivetta, Campari Group’s Head of HR, said: “We are very pleased to welcome such a high participation of our people to the ESOP, a result exceeding the benchmarks of newly launched ESOPs, particularly for the very high adhesion of our blue collars. The significant number of Camparistas who are joining the program demonstrates that Camparista Shares truly is a concrete and effective way to reward our people and it reflects Camparistas’ great trust and authentic commitment to the Campari Group.”
Bob Kunze-Concewitz, Campari Group’s CEO, commented: “The extraordinary response of Camparistas to our very first employee stock ownership plan in its launch year, is a great achievement for us. Despite the uncertain times, Camparistas share the Group’s long-term vision and, with their active participation, confirm their passion to strive together for the growth and continuous success of our business.”
Campari Group’s employees, who joined ESOP, are offered the opportunity of having certain amounts withdrawn from their salaries on a monthly basis. Such contributions are used by the ESOP’s plan administrator to purchase Campari ordinary shares and, following a three-year vesting period, employees participating in the ESOP are entitled to receive a free award of matching shares based on a matching ratio.
The ESOP program was approved by the Company's general meeting on April 8th, 2021 and the information document is available on the Company’s website, section ‘shareholder centre’.