Paul Chibe has moved on from his role as chief executive officer and president of Ferrero North America in Parsippany to be Ferrero Group’s global president of sugar confectionery and gums in Luxembourg, the company announced Sept. 1.
Todd Siwak, who spent the last eight years as CEO of Ferrera Candy Co., has taken the reins at Ferrero North America as president and chief business officer.
“I am thrilled to join the Ferrero North America team and build on the strong momentum they have created in the market. With such an impressive portfolio of beloved brands, a great and committed team, and an enviable reputation for quality and innovation, we are in a position to do amazing things,” Siwak wrote in a LinkedIn post Sept. 1.
Siwak is now responsible for driving growth of Ferrero’s business in the U.S., Canada and the Caribbean, including building on the company’s success in confectionery and growing Ferrero’s presence in the cookie category with Keebler, Famous Amos, and Mother’s.
Ferrero North America exploded under Chibe, who became CEO and president in 2015 and oversaw several major acquisitions, including Nestle’s U.S. chocolate business. The global Ferrero Group acquired Siwak’s Ferrera in 2017 for an undisclosed amount.
“As I embark on my new adventure as global president of sugar confectionery at Ferrero Group, I want to thank and congratulate the Ferrero North America team for the last six years,” Chibe wrote on LinkedIn. “We had enjoyed amazing success doubling our business, launching the top candy innovation of the last decade, successfully integrated two acquired businesses, and grew our market share across all geographies. I am proud of this but the thing I am most proud of is the team and culture we built at Ferrero!”
According to the leadership transition announcement, Ferrero has been one of the fastest-growing confectionery manufacturers in the country “with strong growth of more than 6%, triple the pace of the confectionery category.” It’s recently integrated acquired brands including Butterfinger, CRUNCH, and Fannie May; and is expanding its U.S. presence with additions to its Parsippany headquarters, four new distribution centers, and the announcement of the construction of Ferrero Group’s first ever North American chocolate manufacturing plant in Bloomington, Ill.
Siwak will report directly to Lapo Civiletti, CEO of Ferrero Group.