October 21, 2018

Chocolate tycoon dies in accident

Pietro Ferrero

Italian chocolate tycoon Pietro Ferrero has died in an accident in South Africa, a spokesman for his company has said.

Ferrero, who was 47, “fell from his bicycle during a regular riding session, probably because he was taken ill,” said a spokesman.

Mr Ferrero was joint chief executive of the Ferrero group, which owns Nutella, TicTac and Kinder.

The Italian newspaper Corriere della Serra reported that Mr Ferrero, 48, who was married with three children, had been in South Africa for work.

It quoted a spokesman for the Ferrero group as saying: “We currently have fragmented news; the exact events are not known.”

“Italy has lost a businessman who embodied the best qualities of our industrial history -the continual search for excellence, creativity, the determination to compete even in difficult moments to defend a brand and make it a symbol,” Italian Foreign Minister Franco Frattini said.

Mr Ferrero ran the confectionery group with his brother, Giovanni.

Their 85-year-old father Michele – who is Italy’s richest man – turned the company into a global giant of the confectionery industry.