The Ferrero Group Announces New Governance Set up to Strengthen Global Position

LUXEMBOURG, March 30, 2017 /CNW/ - The Ferrero Group has decided to undertake a new governance set up to strengthen its competitive position in the chocolate and sweet packaged food market worldwide and accelerate growth momentum.

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The Ferrero Group's entrepreneur and CEO, Mr. Giovanni Ferrero, will assume the role of Executive Chairman as of September 1^st, 2017. As such, he will drive the Group by focusing on long-term strategies, new business directions and breakthrough innovation, whilst assuring continuity in the Company's culture and values.

Mr. Giovanni Ferrero will define and lead new pathways to enhance the Group's growth and globalization, in addition to guiding the strategic functions and Boards/Committees of the Group.

In order to secure the achievement of the Group's business targets, Mr. Giovanni Ferrero has decided to appoint a manager in the role of Chief Executive Officer. In his role, the CEO will drive all the activities focused on the achievements of the short and mid-term results. Mr. Lapo Civiletti, a highly ranked internal leader with an impressive track record of outstanding achievements, will assume the role of CEO as of September 1^st, 2017.

"I am very confident that Mr. Lapo Civiletti will ensure continuity in reaching business goals and effectively support the Group in its growth objectives," said Mr. Ferrero. "He has been chosen for his business acumen, vision and mission-driven orientation whilst truly fostering the Ferrero culture and core values."

"This is a momentous time for the Group, and we are ready to capitalize on the new opportunities available to our Company," comments Mr. Civiletti, "I am absolutely dedicated to pursuing Mr. Ferrero's strategic direction, side-by-side with him, with a very talented Leadership Team and in collaboration with all my Ferrero colleagues around the world."

The Group is committed to investing in its people, enhancing the talent, leadership skills and personal qualities of its managers. The new governance will furthermore enable Ferrero to evolve its business in the future and strengthen its position in worldwide markets.

As a consequence of this enhanced new governance, the following appointments have been made at Leadership Team level:

• Reporting directly to the Executive Chairman:
  
  Mr. Lapo Civiletti as CEO, Ambassador Francesco Paolo Fulci as Head of the Institutional Affairs, Mr. Briano Olivares as Head of Strategic R&D, Mr. Aldo Uva as Head of the Open Innovation and Mr. Marco Borghesi as Chief Strategy Officer.

Moreover, the Executive Chairman will provide guidelines to the Group Boards/Committees: Group Leadership Team, Audit, Advisory, Product, Appointment and Remuneration Committee, Business Innovation, Operations.

• Reporting directly to the CEO:
  
  Mr. Giuseppe Addezio as Chief Human Resources and Organization Officer, Mr. Patrick Baubry as Sales Business Development, Mr. Marco Capurso as Chief Business Officer Area Emerging (China, India, MEA, Asia Pacific), Mr. Lapo Civiletti as Chief Business Officer Area Europe, Mr. Giuseppe D'Angelo as Chief Business Officer Area International (UK, North, Central and South America, CIS and An-countries), Mr. Jorge de Moragas as Chief Financial Officer, Mr. Michele Ferro as Chief Industrial and Supply Officer, Mr. Fabrizio Minneci as Chief Legal Officer, Mr. Briano Olivares as Chief Global Brand Officer, Mr. Aldo Uva as Chief Operating Officer Strategic Business Units.

"I am sure that the new Governance will boost our Company's growth whilst staying true to our roots. This will be the essential step to combine 'the best of our worlds': our distinctive entrepreneurship, our managerial excellence and the quality of all our people, the perfect blend for success," concluded Mr. Ferrero.

Ferrero began its story in the little town of Alba in Piedmont, Italy, in 1946. Today, with a consolidated turnover of over 10 billion euros, Ferrero is amongst the market leaders of the confectionery sector and the third worldwide Group in the chocolate confectionery market.

The Ferrero Group is present with more than 41,000 people across 53 countries; it has 22 production plants around the world, of which 3 are part of the Michele Ferrero Entrepreneurial Project in Africa and Asia. In addition, at the beginning of 2015, the Group set up the Ferrero Hazelnut Company (HCo) that includes 6 agricultural companies and 8 manufacturing plants. Ferrero products such as Nutella, Ferrero Rocher, Raffaello, Tic Tac and the Kinder line, are present and sold in more than 170 countries; they have become part of the collective memory and customs of many countries, where they are truly loved generation after generation and often considered as cultural icons.

Furthermore, Ferrero has social responsibility in its DNA. Product freshness and high quality, careful selection of the finest raw materials, sustainable agricultural practices and continuous research and innovation are some of the key elements of Ferrero's success. Moreover, Ferrero continues to invest in local communities thanks to the Ferrero Foundation, the Michele Ferrero Entrepreneurial Project and the Kinder+Sport programme.

For further information visit: http://www.ferrero.com and http://www.ferrerocsr.com

SOURCE The Ferrero Group