Italian chocolate boss Pietro Ferrero dies

Feuer Frei! · 04-19-11, 09:29 PM

ITALIAN chocolate tycoon Pietro Ferrero, joint chief executive of the group that owns Nutella and Ferrero Rocher, has died in a biking accident in South Africa. Mr Ferrero, who was 47, fell from his bicycle during a regular riding session, probably because he had taken ill while on a business trip, the spokesman said.
Mr Ferrero co-ran the sweets group with his younger brother, Giovanni.
Their 85-year-old father Michele, who turned the firm into a global leader of the confectionery industry after taking over in 1957, is still the chairman.
Michele Ferrero is Italy's richest man according to the latest ranking by Forbes magazine, ahead of eyewear tycoon Leonardo Del Vecchio and Prime Minister Silvio Berlusconi, a billionaire television mogul turned politician.
"Italy has lost a businessman who represented the best qualities of our economic history," Foreign Minister Franco Frattini said.
Mr Frattini said Mr Ferrero had "brought an exceptionally important contribution to the Made in Italy brand around the world."
The Ferrero story began in the 1940s in Italy's northern Piedmont region.
A local pastry chef also called Pietro Ferrero began the business with a secret recipe that used nuts to cut down on the more expensive cocoa in a spread that was to be called Nutella and quickly became wildly popular.
The company also owns the Ferrero Rocher, Kinder and Tic-Tac brands.
It had an annual turnover of $9.4 billion in its 2009-2010 financial year - 4.3 per cent higher than the previous year.
It has 18 plants around the world and employs more than 21,000 people.
The firm is entirely family-owned and has stayed away from big corporate takeovers or public listings. Last year, however, it did signal interest in bidding for Britain's Cadbury, which was eventually taken over by Kraft Foods.

SOURCE

RIP Sir

Fish In The Water · 04-20-11, 02:05 AM

Sorry to hear about his demise, but it seems sort of odd he'd go on a regular ride after falling ill on a business trip...

I'm thinking there's probably more to the story, a time gap perhaps? Or possibly the spokesman was misquoted or simply chose his words poorly.

In any event, heartfelt condolences to his loved ones. It really was a good product, so a belated thank you for all the 'comfort' it brought people around the globe.

04-19-11, 09:29 PM	#1
Feuer Frei! Navy Seal Join Date: Sep 2009 Location: Valhalla Posts: 5,295 Downloads: 141 Uploads: 17	Italian chocolate boss Pietro Ferrero dies ITALIAN chocolate tycoon Pietro Ferrero, joint chief executive of the group that owns Nutella and Ferrero Rocher, has died in a biking accident in South Africa. Mr Ferrero, who was 47, fell from his bicycle during a regular riding session, probably because he had taken ill while on a business trip, the spokesman said. Mr Ferrero co-ran the sweets group with his younger brother, Giovanni. Their 85-year-old father Michele, who turned the firm into a global leader of the confectionery industry after taking over in 1957, is still the chairman. Michele Ferrero is Italy's richest man according to the latest ranking by Forbes magazine, ahead of eyewear tycoon Leonardo Del Vecchio and Prime Minister Silvio Berlusconi, a billionaire television mogul turned politician. "Italy has lost a businessman who represented the best qualities of our economic history," Foreign Minister Franco Frattini said. Mr Frattini said Mr Ferrero had "brought an exceptionally important contribution to the Made in Italy brand around the world." The Ferrero story began in the 1940s in Italy's northern Piedmont region. A local pastry chef also called Pietro Ferrero began the business with a secret recipe that used nuts to cut down on the more expensive cocoa in a spread that was to be called Nutella and quickly became wildly popular. The company also owns the Ferrero Rocher, Kinder and Tic-Tac brands. It had an annual turnover of $9.4 billion in its 2009-2010 financial year - 4.3 per cent higher than the previous year. It has 18 plants around the world and employs more than 21,000 people. The firm is entirely family-owned and has stayed away from big corporate takeovers or public listings. Last year, however, it did signal interest in bidding for Britain's Cadbury, which was eventually taken over by Kraft Foods. SOURCE RIP Sir __________________ "History is the lies that the victors agree on"- Napoleon LINK TO MY SH 3 MODS

04-20-11, 02:05 AM	#2
Fish In The Water Prince of the Sea SUBSIM Welcome Committee Join Date: Jul 2009 Location: Watching over U-253 Posts: 3,527 Downloads: 98 Uploads: 2	Sorry to hear about his demise, but it seems sort of odd he'd go on a regular ride after falling ill on a business trip... I'm thinking there's probably more to the story, a time gap perhaps? Or possibly the spokesman was misquoted or simply chose his words poorly. In any event, heartfelt condolences to his loved ones. It really was a good product, so a belated thank you for all the 'comfort' it brought people around the globe.