A lasting legacy
In the unlikely event that you missed the sad news of the death of Michele Ferrero on Valentine’s Day, here at CP, we of course wanted to pay tribute to an industry figure whose global chocolate empire made him Italy’s richest man.
Mr Ferrero’s father, a pastry maker named Pietro, developed Giandujot, the forerunner to Nutella, in 1946 by combining a small amount of cocoa and lots of hazelnuts to make an affordable luxury at a time when chocolate was expensive.
Ferrero himself developed Kinder chocolates in 1968, Tic Tacs a year later and Ferrero Rocher in 1982, according to a company biography. Eventually, Ferrero introduced Ferrero Rocher chocolates in Europe and by 1985 began selling them in the US, according to the company’s website.
In 1997, Michele Ferrero handed over the running of the company to his two sons, Pietro and Giovanni. Sadly, Pietro Ferrero died in 2011 of a cardiac arrest, leaving Giovanni the sole CEO.
Described by Italian President Sergio Mattarella as a “born entrepreneur”, Ferrero was 89 when he died after months of illness. He will leave behind a lasting legacy as one of the leaders of Italian industry who was “always ahead of his time thanks to innovative products and his tenacious work and reserved character,” said Mattarella.
