19 Apr 2011

Chocolate tycoon dies on cycling trip

3:05 pm on 19 April 2011

An Italian chocolate tycoon has died in a cycling accident in South Africa.

A company spokesperson says Pietro Ferrero, 47, was on a business trip.

He was the joint chief executive of the group that owns Nutella and Ferrero Rocher.

Mr Ferrero had co-run the sweets company with his younger brother, Giovanni Ferrero, since 1997.

Their father, Michele Ferrero, who is 85, is Italy's richest man according to Forbes magazine.

The company also owns the Ferrero Rocher, Kinder and Tic-Tac brands.