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Tuesday, 19 April 2011 - Italy's Ferrero CEO dies in accident |
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    Edition: U.S. Article Comments (0) Full Focus Editor's choice A selection of our top photos from the past 48 hours.   Full Article  Follow Reuters Facebook Twitter RSS YouTube Read Girl survives fall from Golden Gate Bridge 1:38pm EDT Obama to Republicans: 'You think we're stupid?' 11:20am EDT Tax filing scramble amid reports rich pay less 1:34pm EDT S&P threatens to cut U.S. credit rating on deficit 4:25pm EDT Mutai runs fastest marathon ever at Boston 3:31pm EDT Discussed 85 Palin returns with feisty, anti-establishment speech 83 Obama to lay out deficit plan with focus on tax, spending 74 UPDATE 1-Geithner says Congress will pass debt limit increase Watched Cupless bra combats cleavage crinkle Fri, Apr 15 2011 South Korean "super gun" packs hi-tech killing power Mon, Feb 14 2011 Deadly tornadoes pound southern U.S. Sun, Apr 17 2011 Italy's Ferrero CEO dies in accident Tweet Share this By Stephen Jewkes MILAN (Reuters) - Pietro Ferrero, joint CEO of chocolate maker Ferrero, died in an accident on Monday, raising questions over the future strategy of the group, which had been linked to a possible bid for dairy giant Parmalat. Ferr... Email Print Related News UPDATE 3-Court okays Parmalat shareholder meeting delay Mon, Apr 11 2011 Analysis & Opinion Deals wrap: Why does J&J want to buy Synthes? U.S. vs China: which economy is bigger, better? Related Topics World » A Ferrero Rocher chocolate is seen in Milan November 20, 2009. Credit: Reuters/Stefano Rellandini By Stephen Jewkes MILAN | Mon Apr 18, 2011 3:05pm EDT MILAN (Reuters) - Pietro Ferrero, joint CEO of chocolate maker Ferrero, died in an accident on Monday, 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 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. Ferrero, which in over 60 years has turned itself into a 6 billion euro ($8.52 billion) business without making an acquisition, emerged from the shadows in 2009 when it mulled a bid for Cadbury, the world's second-largest confectionery company at the time. It eventually pulled out of the sale and Kraft Foods Inc bought the British company for more than $18 billion. The Ferrero brothers ran day-to-day operations at their company but it is widely acknowledged that the strings are pulled by family patriarch Michele Ferrero who took the reins in 1957 and is believed to be Italy's richest man. At the time of the Cadbury bid, Italian newspapers reported that the publicity-shy Michele Ferrero was reluctant about the move while his two sons were keener on going ahead with a bid. 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. (Editing by Richard Chang) World Tweet this Share this Link this Digg this Email Reprints   We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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