Italy’s Ferrero Group has appointed a new CEO, the first time a non-family member has taken on the role since the group’s inception in 1946.
In a move that aims to grow Ferrero’s position in the chocolate and sweet packaged food markets, Lapo Civiletti has been promoted to the role of CEO, effective September 1. Civiletti currently heads the group’s central and eastern European division.
Civiletti succeeds current CEO and Ferrero scion Giovanni Ferrero, grandson of its founder, Pietro Ferrero. Released from his CEO duties, Ferrero will become executive chairman, and will focus on long-term strategies, new business development and innovation, according to a press release. He will also guide the strategic functions of the company’s boards and committees.
SEE ALSO: Coach names Joshua Schulman Brand President and CEO
Meanwhile, Civiletti will be tasked with the group’s short- and mid-term goals, such as making the most of new business opportunities.
“This is a momentous time for the goup, and we are ready to capitalize on the new opportunities available to our company,” said Civiletti, in a press release.
In other management shuffles, Ferrero said Briano Olivares will lead research and development, Aldo Uva will lead open innovation and Marco Borghesi will be chief strategy officer.
Ferrero, the third largest confectionery company in the world, announced last month its plans to purchase America’s Fannie May Confections Brands for $115 million. The group purchased British chocolatier Thornton’s in 2015.
Ferrero Group is the firm behind namesake chocolate Ferrero Rocher, as well as Nutella, Kinder and Tic Tac.