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Chocolate Tycoon Dies in Bike Accident

Ferrero SpA chief Pietro Ferrero dead at 47

By Rob Quinn, Newser Staff

Posted Apr 19, 2011 11:15 AM CDT

(Newser) – The heir to Italy's biggest fortune has died in a cycling accident in South Africa. Pietro Ferrero was chief executive of Ferrero SpA , maker of products including Ferrero Rocher chocolate, Tic-Tacs, and Nutella, which was invented by his grandfather in the family bakery during wartime when chocolate ingredients were in short supply. The 47-year-old fainted and fell off his bicycle during a routine ride, CNN reports.

Ferrero had traveled to South Africa with his father and dozens of company managers to work on opening a new factory and was often seen cycling with employees near the firm's headquarters, reports the New York Times. "Italy has lost a businessman who represented the best qualities of our economic history," Italy's foreign minister said in a statement. (Click for one take on why his death affects us so much.)

Pietro Ferrero, CEO of Italian confectionery firm Ferrero SpA, has died in an accident in South Africa. (AP Photo/Roberto Monaldo, Lapresse)

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Chocolate Tycoon Dies in Bike Accident

Ferrero SpA chief Pietro Ferrero dead at 47

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