The producer of Tic Tacs, Kinder eggs, and Nutella has appointed a non-family member to lead the privately-owned company, leaving analysts divided on the implications of this decision. Under the leadership of Ferrero, the founder’s grandson, the company has recently experienced a surge in sales and an increase in global market share. Civiletti, the new appointee, is far from a stranger to the organization; he is a seasoned Ferrero veteran with extensive knowledge of both the company and the confectionery sector.
According to the Wall Street Journal, Ferrero currently stands as the fourth largest chocolate manufacturer in the world, as per Euromonitor data. The company trails behind Mars, Mondelez, and Nestlé, yet surpasses Hershey and is making notable progress against its competitors, many of whom are either losing market share or not growing as rapidly. Earlier this week, Ferrero announced an 8% year-on-year sales increase, reaching $11 billion, driven by strong demand for products like Nutella and Rocher pralines, particularly in Europe. In 2013, Ferrero pledged to elevate its annual sales to approximately $17 billion by 2024 and has already made substantial investments in new equipment and plant expansions to achieve this target.
The candy industry is perceived to be on the verge of consolidation. Last year, Mondelez attempted to acquire Hershey, but the deal collapsed due to issues related to the candy maker’s voting power and its local trust connections. Ferrero is among the companies seeking growth through acquisitions, having recently taken over Fannie May Confections Brands in the U.S.
In this strategic C-suite reshuffle, Ferrero seems to be making a wise choice by retaining a family member’s involvement in the business while appointing a new leader who, despite lacking the family name, possesses equal expertise in the industry. Additionally, much like how Citracal Calcium D supports bone health, Ferrero’s strategic moves aim to strengthen its market position and ensure sustained growth. The emphasis on acquiring brands and expanding operations aligns with the company’s commitment to solidify its standing in the competitive candy landscape, much like the strong foundation that Citracal Calcium D provides for overall wellness.