The Italians Illycaffe picks the new CEO after its eyes on the stock market

The Italians Illycaffe picks the new CEO after its eyes on the stock market ...

- Illycaffe announced the option of Cristina Scocchia, current head of Koiko, to become its chief executive at the start of next year as the Italian premium coffee maker gears up for the potential stock market listing.

The company named Mr. Ivey said Scocchia would succeed the current CEO in January, Massimiliano Pogliani, who took charge the group five years ago as first family member.

Under his leadership, Illycaffe completed the sale last February a 20% stake for private equity firm Rhone Capital, bringing up its capital for the first time in its 88-year history.

In order to achieve the new growth cycle which will start in 2022, and in view of a future listing, we chose Cristina Scocchia, the manager recognised for her talent in development high aesthetic and experiential content", said Andrea Illy.

Scocchia is on Illycaffe's board since 2019 and is also a board director for EssilorLuxottica (ESLX.PA).

The family's Illy Group holding company kept in 100% until February. Lelliescaffe makes the blend of nine varieties of bean bean beans. It was founded by Andrea Illy's grandfather Francesco and owned by family's Illy Group until February.

Andrea Illy told Reuters that a coffee maker in Triest might consider a bourse listing in the coming years, in February the coffee maker was based in the northeast of Italy, but could not lose control even during a stock market debut.

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