FERRERO
Giovanni

• 1. Professional activity
• 2. Awards
• 3. Personal life

Giovanni Ferrero (Italian Giovanni Ferrero; born April 2, 1964, Farigliano, Italy) is an Italian writer, entrepreneur and billionaire. After the death of his father and brother, he headed the company for the production of chocolate and various sweets Ferrero SpA.

Giovanni Ferrero was born on April 2, 1964 in Italy into a Catholic family. His parents - Maria Franchi Fissolo and Michele Ferrero - are the owners of the multinational confectionery corporation Ferrero. His father Michele Ferrero especially revered the Madonna of Lourdes. So in factories and various representations around the world, her statues are often located.

Professional activity

At the age of 11, Giovani, along with his older brother Pietro Ferrero, was sent to the European School of Brussels. At that time, many wealthy Italian families sent their children to study and live away from Italy, fearing that they might be kidnapped. Subsequently, Giovani went to the United States at Lebanon Valley College in Pennsylvania. There he studied marketing and other economic disciplines.

Michelle Ferrero officially handed over the management of the company to his sons Giovanni and Pietro in 1997. Then they were appointed to the post of CEO for two, that is, they became co-directors of the entire Ferrero company. In turn, his father moved to Monaco and headed the Ferrero division - Soremartec (Societe de recherche de la commercialization et technique - translated from Italian - "Society for Research in Commercialization and Technology"). However, in fact, Michele Ferrero had a decisive voice in all management decisions up to 2014. The reason for the termination of his participation in the affairs of the company was his health condition.

In 2011, an older brother, Giovanni Pietro Ferrero, dies as a result of a heart attack in South Africa while riding a bicycle. Michele Ferrero died in February 2015 at the age of 89. As a result, Giovani becomes the sole CEO of Ferrero SpA.

After the death of his father and brother, Ferrero SpA changed its business strategy. In June 2015, Ferrero SpA acquires British chocolate and confectionery company Thorntons for £ 112m, whereas Ferrero SpA has never made a takeover in the past. Giovanni, answering journalists' questions related to the acquisition, responded as follows: “Ten years ago, seven of the leading companies in our industry controlled 35% of turnover. Now the five largest account for 60%. Companies are merging because this is the only way to acquire the capital necessary for growth. To oppose this, to go against the course of history is absurd. We Ferrero never did that. My father started investing in France in the 1950s, when all companies were trying to make the most of Italy's economic boom. He was looking ahead. "

Awards

July 29, 2011 - Grand Cross of the Order of Merit of the Italian Republic.

Personal life

Married to Paola Rossi. Two sons.

May 6, 2021 Bloomberg estimated his fortune at $ 34,100 million