Ferrero, new CEO and new governance: Nervegna leads Ferrero core
Reorganisation 'designed to consolidate competitiveness' - Former CEO Civiletti becomes president of Ferrero Ice Cream and WK Kellogg
Seven years after the last internal reorganisation of the Ferero Group, and in particular of the Ferrero International holding company, the Alba-based giant is reorganising its governance and choosing a new CEO, Alessandro Nervegna, to lead Ferrero core with Lapo Civiletti, the Group's first external CEO, appointed in 2017, will also take on the role of chairman of Ferrero Ice Cream and WK Kellogg Co.
The Group therefore revised its corporate structure in recent months until the Board of Directors approved the resolution on 11 February. The new governance introduced the two new leadership roles as of 1 September, reporting directly to Giovanni Ferrero, President of Ferrero International S.A., the Group's holding company.
Alessandro Nervegna, currently Chief Strategy & Innovation Officer, will be responsible for the Group's core categories, including Confectionery, Biscuits and Bakery Products, and the Better-For-You segment. The reorganisation, clarifies a Group note, 'is designed to consolidate its competitiveness in the packaged confectionery sector'.
Over the past decade, the Ferrero Group has embarked on a path of expansion and growth to transform itself from a confectionery-focused company to a global leader in packaged confectionery products. At the heart of the strategy, which has seen revenues double to almost EUR 20 billion in ten years, is a series of strategic acquisitions and "an ongoing commitment to bringing innovation to iconic brands and new product categories".
In his role as Chairman of Ferrero International S.A., 'Giovanni Ferrero will continue to lead the Group's growth, focusing on strategic, long-term vision and innovation, while maintaining continuity with the company's distinctive culture and values,' underlines a note.
