As the premium Italian coffee company prepares for a potential IPO, Cristina Scocchia will succeed Massimiliano Pogliani as CEO in January.
Illycaffe has been a company controlled by the Illy family since it was founded in 1933 by Francesco Illy, and the family owned 100% of the company until last February, when Illycaffe completed the sale of a 20% private equity stake to Rhône Capital. This was the first time in the company’s 88-year history that it opened up to an outside investor.
Cristina Scocchia, current head of cosmetics company Kiko, has been chosen to become Illycaffe’s chief executive officer from early next year as the group prepares for a possible stock market flotation. She will succeed Massimiliano Pogliani, who has been the company’s managing director for the past five years. He is, among other things, the first non-family member to head the group. Under his leadership, Illycaffe has opened up to external investors.
“For the new growth cycle to start in 2022 and with a view to a future listing, we have chosen Cristina Scocchia, a manager recognised for her talent in developing brands with strong aesthetic and experiential content,” said Andrea Illy, chairman of the company.
Cristina Scocchia has already been on Illycaffe’s board of directors since 2019 and is also a director of eyewear group EssilorLuxottica.
Andrea Illy said in February that the group, based in the north-eastern Italian city of Trieste, could consider a stock market listing in the coming years. He also added that his family did not want to give up control of the family business if this project came to fruition.
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Featured photo : © MF Fashion
