Michele Ferrero Passes Away at 89
From Nutella to Ferrero Rocher, the Ferrero name is well recognized by generations enjoying Italian sweets. Michele Ferrero, the world's richest candy maker passed away on Valentine's Day, the company said – he was 89. Ferrero had been ill for several months, passing away on Saturday at his home in Montecarlo, surrounded by his family.
Ferrero was the patriarch of the family empire best known for its Nutella and Ferrero Rocher chocolates – other products also include Tic Tacs and the Kinder line of products. The company was one of Italy's most successful, a prime example of the "Made in Italy" brand of food and luxury goods that have defined the private sector in post-war Italy.
Italian President Sergio Mattarella praised Ferrero as one of the leaders of Italian industry, "always ahead of his time thanks to innovative products and his tenacious work and reserved character." Pietro Ferrero, Michele's father, opened his first chocolate laboratory in Alba in 1942. The business passed to Michele upon Pietro's death in 1949.
Michele Ferrero developed Kinder chocolates in 1968, Tic Tacs a year later and Ferrero Rocher in 1982, according to a biography provided by the company. Eventually, Ferrero introduced the Ferrero Rocher chocolates in Europe and by 1985 began selling them in the United States.
By 1997, Michele Ferrero handed over the running of the company to his two sons, Pietro and Giovanni. Pietro Ferrero died in 2011 of a cardiac arrest, leaving Giovanni the sole CEO.
Ferrero was the patriarch of the family empire best known for its Nutella and Ferrero Rocher chocolates – other products also include Tic Tacs and the Kinder line of products. The company was one of Italy's most successful, a prime example of the "Made in Italy" brand of food and luxury goods that have defined the private sector in post-war Italy.
Italian President Sergio Mattarella praised Ferrero as one of the leaders of Italian industry, "always ahead of his time thanks to innovative products and his tenacious work and reserved character." Pietro Ferrero, Michele's father, opened his first chocolate laboratory in Alba in 1942. The business passed to Michele upon Pietro's death in 1949.
Michele Ferrero developed Kinder chocolates in 1968, Tic Tacs a year later and Ferrero Rocher in 1982, according to a biography provided by the company. Eventually, Ferrero introduced the Ferrero Rocher chocolates in Europe and by 1985 began selling them in the United States.
By 1997, Michele Ferrero handed over the running of the company to his two sons, Pietro and Giovanni. Pietro Ferrero died in 2011 of a cardiac arrest, leaving Giovanni the sole CEO.