MILAN (Reuters – Illycaffe selected Cristina Scocchia as its chief executive to take over the company’s operations in the new year. This is as Illycaffe, an Italian premium coffee producer, prepares for a possible stock exchange listing.

According to the Illy family, Scocchia will succeed Massimiliano Pogliani as CEO in January. He was the first person outside the Illy family to assume the role of group leader five years ago.

Illycaffe, under his direction, sold a 20% share to Rhone Capital in February. This was the company’s first open-ended capital sale to an outside investor in its 88 year history.

Andrea Illy, the company’s chairman stated, “For our new growth cycle in 2022 and to plan for a future listing,” Cristina Scocchia has been chosen. This manager is known for creating high quality brands that are both aesthetic and experiential.

Scocchia, who has served as Illycaffe board member since 2019, is also board director at EssilorLuxottica glasses group.

Illycaffe is a coffee blend of nine arabica bean varieties. It was founded by Andrea Illy’s grandfather Francesco. The family owned 100% of the Illy Group holding until February.

Andrea Illy stated to Reuters in February that the coffee maker, based near Trieste, Italy, might consider a bourse list in the future. His family also indicated they did not wish to lose control of the company in the event of a debut on the stock market.