Ferrero has removed the role of group CEO and created two senior positions to manage a product portfolio the Italian food giant has expanded through M&A.
Group CEO Lapo Civiletti will move into the newly created position of president of Ferrero Ice Cream and WK Kellogg.
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Meanwhile, chief strategy and innovation officer Alessandro Nervegna has become the CEO of Ferrero Core, with responsibility for the group’s confectionery, biscuits, bakery and “better-for-you” categories.
Nervegna is a 30-year veteran of the group, while Civiletti joined in 2004 and became its first non-family CEO in 2017.
In addition to his new role, Civiletti will continue as vice president of parent company Ferrero International.
“To reflect the growth of the business and future ambitions, two leadership positions have been created, both reporting into Mr. Giovanni Ferrero, the president of Ferrero International S.A.,” a spokesperson said.
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By GlobalDataThe executive changes are effective from September.
In a statement yesterday (3 March), the group said the governance restructure is intended to “further strengthen its competitive position in the sweet-packaged food sector”.
Giovanni Ferrero said: “Mr. Lapo Civiletti has been crucial to the successful journey of the Ferrero Group. Under his guidance and thanks to his record of delivery, the ambition of doubling the size of the business in less than ten years has become a reality.”
Mr Ferrero added Nervegna’s “business acumen, strategic mindset and managerial rigor will ensure Ferrero Group maintains its growth trajectory and continues to be a leader in the sweet-packaged food industry”.
Last year, the Nutella maker purchased US cereals business WK Kellogg in a $3.1bn deal. The acquisition added brands such as Froot Loops and Raisin Bran to the family-owned company’s existing line-up.
Privately owned Ferrero also has a presence in ice cream on both sides of the Atlantic after acquisitions in 2019 and 2022.
Early last year, Ferrero moved to add to its snacks stable with the acquisition of protein-bar maker Power Crunch in California. In 2020, the Ferrero Rocher and Kinder Bueno had moved to expand its snacks range in Europe with a deal for UK cereal bars, muesli and granola business Eat Natural.
For the financial year ending in August, the Tic Tac brand owner’s consolidated turnover rose 4.6% to €19.3bn ($22.4bn), excluding contributions from WK Kellogg.
The company does not disclose figures on profits.
Entities related to the Ferrero group have also made acquisitions in different snacks categories in recent years.
In November, a European holding company for Ferrara Candy Company finalised the purchase of French sweets maker CPK Group from investment firm Eurazeo. Ferrara, while not owned by Ferrero Group, operates as an affiliated entity under the same ultimate control as the Italian giant. Its US brands include Brach’s, Nerds and Trolli.
Two years ago, CTH Invest, a company linked to Ferrero, snapped up US biscotti maker Nonni’s Bakery.
CTH Invest is a Ferrero-related Belgian holding company that owns brands including Burton’s Biscuit Company and Fox’s Biscuits in the UK, Kelsen Group in Denmark, Delacre Biscuits in Belgium and France’s Michel et Augustin, which it bought from dairy giant Danone in 2023.
