Pietro Ferrero, Dies While Cycling

Pietro Ferrero, chief executive officer of the Ferrero group, maker of Nutella chocolate spread and Tic Tacs, and heir to Italy’s biggest fortune, died yesterday of a suspected heart attack during a bike ride in Cape Town, South Africa. He was 47.

Born September 11, 1963, Pietro Ferrero was CEO of the family group, which is not publicly traded and is known for his love of secrecy with his brother Giovanni, who is one year younger, since 1997.

Their father Michael, aged 85, is still president of the group, which has been a giant of the world’s confectionery industry. He is the richest man in Italy, according to Forbes magazine.

Ferrero is today one of the giants of the sector, their turnover reached 6.6 billion euros in 2009-2010 (+4.3% yoy). It has 18 factories worldwide and employs over 21,700 people.