Michele Ferrero, the head of Italy’s largest confectionery group for nearly 50 years, has died at the age of 89.
He took charge of the Ferrero group in 1949 following the death of his father Pietro, and was instrumental in the development of products that helped define the childhoods of generations of European consumers, including Nutella, Kinder Surprise and Tic Tacs.
Forbes estimated in 2014 that Ferrero had helped his family empire amass a fortune of $23.4bn, making Ferrero the world’s richest confectionery entrepreneur and placing the Ferrero family in 30th place on a list of the world’s richest billionaires. He died at his home in Monte Carlo on Saturday, after a short period of illness.
Giving tribute, Italian prime minister Matteo Renzi described Ferrero as “an innovator, a great Italian who brought head-on into the world the creativity, talent, quality and entrepreneurial capacity of our country.”
And president Sergio Mattarella added: Ferrero has been for many years a leading figure of the Italian industry, always ahead of his time thanks to innovative products and his tenacious work and reserved character. Italy remembers with gratitude his work in the support and promotion of its culture.”
© FoodBev Media Ltd 2021
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial