Afternoon Brief, December 15th

WSTA Debunks Pesticide Report: Recent results from a UK government testing programme have suggested a dramatic increase in the proportion of wine that contains multiple pesticide residues – up from 14% in 2016 to 50% in 2022...

Gabriele Del Torchio Confirmed Chairman Milan, 12th September 2023 – Guala Closures S.p.A. (“Guala Closures” or the “Group”), a global leading producer of closures for spirits, wines, water and beverages, today announces that Gabriele Del Torchio, currently Chairman and CEO, will remain as Chairman with effect in September 2023 and Mauro Caneschi will join as Chief Executive Officer.  Gabriele Del Torchio was appointed Chairman and CEO of Guala Closures in April 2021 when the Group was acquired by an investment company of Investindustrial VII L.P., a leading independent European investment group. During this period, he has led the Group’s successful growth and strong business performance. This includes: - Improved operational efficiencies and expansion of its international manufacturing facilities;  - A strong focus on R&D differentiating its products, and product expansion focusing on the “premiumisation” trend;