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Mr Ferrero


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Italian chocolate tycoon Pietro Ferrero has died in a biking accident in South Africa.

The joint chief executive of the Ferrero company, which owns Ferrero Rocher and Nutella, fell from his bike after reportedly being taken ill while cycling.

 

A spokesman for the chocolate company spoke of the group's "deep dismay" on hearing of Mr Ferrero's death while on a business trip in South Africa.

 

The 47-year-old, who was married with three children, had run the Ferrero company with his younger brother Giovanni since 1997.

 

Their father, 85-year-old Michele Ferrero, had first taken over the firm in 1957 and is credited with turning it into a global leader in the confectionary industry.

 

The senior Mr Ferrero, who is still company chairman, was recently named by Forbes magazine as the richest man in Italy, ahead of Prime Minister Silvio Berlusconi.

 

Foreign minister Franco Frattini paid tribute to Pietro Ferrero, saying he had "brought an exceptionally important contribution to the Made in Italy brand around the world".

 

Emma Marcegaglia, president of the Italian employers' federation Confindustria, described Mr Ferrero as "an entrepreneur of quality and one of the greatest representatives of Italian capitalism".

 

The chocolate company first came into being in the 1940s when a local pastry chef, also named Pietro Ferrero, added nuts to a chocolate spread to cut down on the expensive cocoa content, thereby creating Nutella.

 

The company still owns Nutella as well as Ferrero Rocher, Kinder and Tic-Tac, however it has remained an entirely family-run business and is not publicly listed.

 

Company chiefs had showed an interest in buying Cadbury last year, to add to its £5.8bn turnover and 21,000 staff, but the British company was eventually taken over by American Kraft Foods.

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apparently you can divide Yurop by the reaction to the "ambassador" ad- the Brits, Danes & Dutch howl with laughter, the Jormans think its terribly aspirational and the Italians can't understand what all the fuss is about

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