- Title: SOUTH AFRICA: Ferrero CEO Pietro Ferrero dies in cycling accident near Cape Town
- Date: 20th April 2011
- Summary: NEWSPAPER ARTICLE WITH PHOTOGRAPH OF PARAMEDICS STANDING BESIDE
- Embargoed: 5th May 2011 13:00
- Keywords:
- Location: South Africa, South Africa
- Country: South Africa
- Topics: Disasters / Accidents / Natural catastrophes,Industry
- Reuters ID: LVA326QJANQZUO4P0JCUFNTYMTZ5
- Story Text: Pietro Ferrero, joint CEO of chocolate maker Ferrero, died in an accident on Monday (April 18), raising questions over the future strategy of the group, which had been linked to a possible bid for dairy giant Parmalat.
Ferrero, maker of Nutella spread and Rocher chocolates, said in a statement the 48 year-old, who was joint chief executive with his brother Giovanni, had died after falling from a bicycle in South Africa, probably due to an ailment.
The Ferrero brothers ran day-to-day operations at their company but it is widely acknowledged that the strings are pulled by their father Michele Ferrero who took the reins in 1957 and is believed to be Italy's richest man.
The family-owned group grabbed headlines in March by expressing an interest in finding an Italian solution to keep Parmalat, Italy's biggest listed food group out of foreign hands.
The unlisted Ferrero is based in the northwestern Italian town of Alba and employs more than 20,000 people. Its main market is Europe followed by America, Asia and Africa. - Copyright Holder: REUTERS
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