Ferrero has no intention of listing, president says

Confectioner celebrates 50th anniversary of Nutella

(ANSA) - Rome, May 14 - Italian multinational confectioner Ferrero SpA has no intention of listing on the bourse, Chairman Francesco Paolo Fulci said Wednesday, speaking at a 50th anniversary celebration for Nutella, the hazelnut-chocolate spread that made the company famous.
    The Piedmont-based chocolate-maker "has always shunned financial transactions that favor short-term profits" over product quality, Fulci explained.
    Ferrero SpA reported a turnover of 7.7 billion euros in 2011-2012 and is owned by the Ferrero family. It is currently headed by Chairman and CEO Giovanni Ferrero, a grandson of the founder.
   

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