Michele Ferrero, inventor of Nutella, dies at 89

Owner of the Ferrero Group, Michele Ferrero, passed away at his home in Monaco at the age of 89 on February 14. He was the second-generation owner, and the inventor of products such as Nutella, Ferrero Rocher, Tic Tac, and Kinder.

He is survived by his wife, Maria Franca, and son, Giovanni Ferrero, CEO of Ferrero International.

The Group issued a statement, thanking his "genius and tireless contribution," as well as pointing out his work in corporate social responsibility.

Ferrero founded the Ferrero Foundation in 1983, now chaired by his wife, with the purpose of caring for former Ferrero employees, and of promoting cultural and artistic initiatives.

He also set up the Ferrero Social Enterprises, presently located in India, South Africa and Cameroon, which aim to help create job opportunities in underdeveloped areas.

His son, Giovanni Ferrero, CEO of the Group, will continue to lead the company.

He will seek "continued growth while keeping alive the vision, innovation and social motivation inspired by Michele and strongly embodied by the Ferrero family," said the company's statement.

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