Michele Ferrero, owner of the Ferrero candy company, died yesterday (Valentine's Day) at age 89. Michele's father, Pietro Ferrero, founded the Ferrero company and opened his first chocolate factory in 1942. The company was handed over to Michele in 1949 after Pietro's death. The Ferrero company is responsible for such candies and chocolates as Ferrero Rocher, Kinder products (chocolates and especially the eggs with a treat inside), Tic Tacs, and the ever popular Nutella hazelnut spread. Ferrero was praised as being one of the leaders of Italian industry and a prime example of the "Made in Italy" brand. Michele Ferrero and his family were rated by Forbes as 30th on the list of world's richest billionaires in 2014 at a worth of $23.4 billion.
It may seem odd that I am writing about the death of a candy and chocolate billionaire, but the death of Michele Ferrero poses some questions to me. What will happen to the Ferrero company? Michele's son, Giovanni, is left as the only heir to the line after his brother Pietro died in 2011. Will the company continue to thrive, or will Giovanni make changes that could hinder the company's future? Also, if Giovanni makes poor company decisions, what could become of the global industry that Ferrero has become? How will Michele's death affect the economy that Ferrero has built for Italian industry? The Ferrero company has brought many products to light such as Tic Tacs and Ferrero Rocher (which were developed by Michele and are now sold in the USA). How will this death affect the American stocking of these products? The list goes on and on.
Full article: http://www.cbsnews.com/news/michele-ferrero-maker-of-nutella-dies-age-89/
~Sarah Irene Rosenberg
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