People: One of Nutella's bosses dies in South Africa

Pietro Ferrero died Monday in South Africa while on business at the age of 47. Co-CEO of the Ferrero Group, he likely died of a heart attack while cycling, South African police said. Along with his brother Giovanni, he headed the Nutella empire, which also produces the Kinder, Tic-Tac, Ferrero Rocher, and Mon Chéri brands.

His father, Michele Ferrero, 85, is still chairman of the group. He is the man who made the Alba-based company an international leader in the confectionery sector. According to Forbes magazine, he is also "the richest man in Italy."
The Group's turnover reached 6.6 billion euros in the 2009-2010 financial year (+4.31 billion euros over one year). It has 18 factories worldwide and employs more than 21,700 people. Entirely family-owned, the Ferrero company has always preferred to stay away from the stock market and acquisitions; its development is ensured solely through organic growth.

The passion for cycling

Pietro Ferrero se trouvait était en mission d’affaires, en Afrique du Sud, avec une vingtaine de cadres de la société pour fonder une entreprise d’économie sociale, un créneau cher à Ferrero. Comme il en avait l’habitude tous les jours, Pietro Ferrero est monté sur un vélo pour parcourir quelques kilomètres lorsqu’il a soudainement éprouvé une douleur thoracique.
Connu entre autres pour sa passion du cyclisme, il s’entraînait régulièrement sur les collines de Langa, dans son Piémont natal. Il a même participé à des compétitions cyclistes de manière anonyme.

Married "late in life", he was the father of three young children.
Source: AFP