Start your Independent Premium subscription today. Pietro Ferrero died in 2011 of a cardiac arrest, leaving Giovanni the sole CEO. Ferrero is survived by Maria and Giovanni. Please be respectful when making a comment and adhere to our Community Guidelines. Please continue to respect all commenters and create constructive debates. His death opens the question of succession and potential tie-ups at the family-controlled Ferrero group, which has sales of around 8 billion euros ($9 billion) and continued to grow through Italy's longest recession since World War Two. He owned the chocolate manufacturer Ferrero SpA, Europe's second largest confectionery company (at the time of his death), which he developed from the small bakery and café of his father in Alba, Piedmont. However, one rule laid down by his now deceased father seems to abide: “Only on two occasions should the papers mention one’s name – birth and death.”. His eldest son, Pietro, died age 47 in 2011 after apparently suffering a heart attack. Although he was not the inventor of Nutella, the billionaire was also responsible for transforming the chocolate and hazelnut spread into a mainstay of breakfast tables across the planet. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. Early Career. After getting back from USA, … Want to bookmark your favourite articles and stories to read or reference later? On Valentine’s Day 2015, the world said good-bye to the 89 year old father of Italian chocolate, Michele Ferrero. Michele Ferrero, the man who brought Nutella spread, Tic Tac mints and namesake Ferrero Rocher chocolates to the world, died Saturday after a long illness at the age of 89. Francesco Fulci, president of the Ferrero Foundation, said last year: “It’s not a company, it’s an oasis of happiness.”. Are you sure you want to mark this comment as inappropriate? But rather like Roald Dahl’s fictitious candyman, Mr Ferrero preferred to let his creations do the talking and was rarely seen in public or gave interviews. Michele Ferrero, owner of the eponymous chocolate maker Ferrero SpA, has died at the age of 89. Want an ad-free experience?Subscribe to Independent Premium. It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. The company has adopted a more open stance in recent years under the direction of Giovanni. As Michele’s son Giovanni, who has run the company as chief executive since 2007, put it last year: “My grandfather lived to find this formula. Michele Ferrero, Italy's richest man and the owner of a global chocolate and confectionery empire, died on Saturday aged 89, the company said. He was 89, the company said in a statement. From 1997, Ferrero’s sons took over the business, until 2011 when the eldest, Pietro, died in a cycling accident in South Africa of a suspected heart attack. He tweaked the formula first dreamt up by his father, Pietro, in the backroom of his bakery in Alba, put the resulting goo in a jar with a white lid and turned it into his company’s best-known brand, selling 365,000 tons of the stuff a year. Use of this site constitutes acceptance of our, World's Richest Candy Maker and Nutella Founder Died on Valentine's Day. Topics. Food & drink industry He leaves behind a family business that is responsible for bringing the world Nutella, Mon Cheri, Tic Tacs and Ferrero Rocher, among other iconic confectionery brands. He used hazelnuts to stretch the little chocolate he had. That man is Michele Ferrero, Italy’s richest man. Michele Ferrero, Italy's richest man and the owner of a global chocolate and confectionery empire, died on Saturday aged 89, the company said. He was said to have visited Lourdes at least once a year and it was suggested that his Ferrero pralines, until recently advertised as the treat of choice of ambassadors, were inspired by the Rocher de Massabielle grotto at the shrine. If the world were seeking a real-life Willy Wonka, it would have struggled to get closer than Michele Ferrero, the confectioner who seduced millions with his genius for mass-market chocolatey sweetmeats and yet remained an enigmatic recluse. Ferrero’s father created what would later be widely known as Nutella during World War II when cocoa was in short supply. Billionaire Michele Ferrero, who became Italy's richest man with a confectionary empire built on his popular Nutella spread, died on Saturday at the age of 89, Italian media said. If the world were seeking a real-life Willy Wonka, it would have struggled to get closer than Michele Ferrero, ... Pietro, died age 47 in 2011 after apparently suffering a heart attack. The confectioner also claims a strong environmental record – it decided to stop buying palm oil from Indonesia because of deforestation concerns. All Rights Reserved. Pietro Ferrero died in 2011 of a cardiac arrest, leaving Giovanni the sole CEO. He was 89. Thousands are expected to gather in the northern Italian town of Alba for the funeral of the 89-year-old billionaire patriarch of the £8bn Ferrero confectionery empire, whose death in the tax haven of Monte Carlo was announced this weekend. His death is likely to spur talk of succession and potential tie-ups at the family-controlled Ferrero group, which has continued to grow even through Italy's longest recession since World War Two. MILAN, Feb 14 (Reuters) - Michele Ferrero, Italy's richest man and the owner of a global chocolate and confectionery empire, died on Saturday, two workers within the company said. Michele Ferrero attends the funeral of the heir to the Italian chocolate company Ferrero, Pietro Ferrero, in Alba, Italy on April 27, 2011. Who Should Be TIME’s Person of the Year for 2020? According to BBC News, Ferrero had been battling illness for months. While it would be going too far to liken staff to Mr Wonka’s Oompa-Loompas, they have nonetheless benefited from Mr Ferrero’s brand of benevolent capitalism. His first big success was adding vegetable oil to the traditional gianduja paste to make the popular spread, Nutella. You can find our Community Guidelines in full here. The most insightful comments on all subjects will be published daily in dedicated articles. Are you sure you want to delete this comment? His son, Giovanni, takes over the family business which employs 22,000 people. Ferrero, who was widely regarded as the richest man in Italy and was the creator of Nutella, passed away at his home in Monte Carlo Saturday, reports nytimes.com. Because Michele Ferrero, the Italian who invented Nutella, had died on Valentine’s Day. The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. Pietro died of a heart attack in 2011. Billionaire Michele Ferrero, whose global chocolate empire made him Italy's richest man, has died aged 89. By 1997, Michele Ferrero handed over the running of the company to his two sons, Pietro and Giovanni. In Alba, workers are paid above the national average and the company provides childcare as well as lifetime health insurance for anyone serving more than 30 years. Michele Ferrero, Italy's richest man and the owner of a global chocolate and confectionery empire, died on Saturday aged 89, the company said. Due to the sheer scale of this comment community, we are not able to give each post the same level of attention, but we have preserved this area in the interests of open debate. Michele Ferrero, Italy’s chocolate king, died on Valentine’s day, aged 89 Giovanni Ferrero was born on April 2, 1964, in Fariagliano, Italy, to Michele Ferrero & Maria Fissolo. By 1997, Michele Ferrero handed over the running of the company to his two sons, Pietro and Giovanni. In 2011, it was declared the world’s most reputable corporation by an American think-tank. It was Ferrero's father, a smalltime pastry maker named Pietro Ferrero, who laid the groundwork for the recipe and famously added hazelnut to it to save money on chocolate. The owner of the Italian confectioner that makes Nutella and other chocolate sweets sold worldwide Michele Ferrero, Michele Ferrero dead: Death of the world’s most successful, You may not agree with our views, or other users’, but please respond to them respectfully, Swearing, personal abuse, racism, sexism, homophobia and other discriminatory or inciteful language is not acceptable, Do not impersonate other users or reveal private information about third parties, We reserve the right to delete inappropriate posts and ban offending users without notification. You can also choose to be emailed when someone replies to your comment. In his 58-year career at the head of what remains a family business, Mr Ferrero masterminded the creation of plaque-inducing favourites from Tic Tacs and Kinder eggs to the eponymous Ferrero Rocher, the world’s best-selling boxed chocolates popularised by questionable claims to be a preferred offering at diplomatic gatherings. Michele Ferrero was an Italian billionaire businessman. His death was announced on the website of his company, the Ferrero Group. Michele Ferrero died at home in Monaco after suffering from months of illness. He was completely obsessed by it. By 1997, Michele Ferrero handed over the running of the company to his two sons, Pietro and Giovanni. Michele Ferrero, the founder and patriarch of the Italian Nutella and Ferrero Rocher empire, died on Saturday, Valentine's Day. The Italian president Sergio Mattarella yesterday praised Mr Ferrero as a titan of his country’s industry, saying he was “always ahead of his time thanks to innovative products and his tenacious work and reserved character”. Create a commenting name to join the debate, There are no Independent Premium comments yet - be the first to add your thoughts, There are no comments yet - be the first to add your thoughts. Michele Ferrari (born 26 March 1953) is an Italian physician, cycling coach and author, who is mostly known for his role in supplying bicycle racers with performance-enhancing drugs, notably EPO. By signing up you are agreeing to our, Eric Schmidt Thinks This Is The Best Age To Start Measuring Excellence, Why Joe Biden Needs Mitch McConnell to Govern, Sign up to receive the top stories you need to know now on politics, health and more, © 2020 TIME USA, LLC. Pietro Ferrero, the heir to the chocolate-making business empire built up by one of Italy's richest families, has died in a cycling accident in South Africa.. The confectioner developed the Kinder range in 1968, followed by Tic Tacs a year later and Ferrero Rocher in 1982. The patriarch, whose family wealth is put at £15bn, putting the Ferreros 30th in the global list of billionaires, also knew tragedy in the later stages of his life. Years later, Nutella is among one of the most beloved treats in Italy and across the world. https://www.ft.com/content/f568759e-b4fc-11e4-b186-00144feab7de Michele Ferrero, whose company spawned Ferrero Rocher chocolates and Kinder eggs, died at age 89 at his home in Monaco. He woke up my grandmother at midnight and made her taste it with spoons, asking, ‘How was it?” and ‘What do you think?’”. Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. Italy’s richest man and the candy maker behind the iconic Nutella hazelnut spread died as millions of Americans indulged in his sweet creations on Valentine’s Day. Forbes described Michele as the “richest candy man on the planet.”, In a statement, according to the Associated Press, Italian President Sergio Mattarella said Ferrero was, “always ahead of his time thanks to innovative products and his tenacious work and reserved character.”. Pietro Ferrero died in 2011 of a cardiac arrest, leaving Giovanni the sole CEO. The resulting company is the world’s fourth largest confectioner with 22,000 employees in 20 locations across the world, a 72 per cent share of the chocolate spreads market and its own hazelnut plantations. Michele Ferrero, the Italian who built up the chocolate empire of Nutella and Ferrero Rocher, has died. Farewell to tycoon behind Nutella, Kinder eggs and the diplomats’ favourite, Find your bookmarks in your Independent Premium section, under my profile. By 1997, Michele Ferrero handed over the running of the company to his two sons, Pietro and Giovanni. Later on, he was sent to the US for studying marketing. Nutella, born out of a post-war shortage of cocoa and an Italian abundance of hazelnuts, now accounts for anything up to a quarter of the planet’s entire hazelnut crop.