Parsippany, NJ — Ferrero Group has appointed Todd Siwak president and chief business officer of Ferrero North America. He will be responsible for driving growth of Ferrero’s expanding business in the U.S., Canada and the Caribbean, effective September 1. He succeeds Paul Chibe, who had been in the position since 2015, who is taking on an international assignment within Ferrero Group as global president, sugar confectionery and gums.
According to the company, Siwak will lead the NA group’s transition from being part of an international region to its own distinct area reporting directly to Lapo Civiletti, CEO of Ferrero Group. This marks a critical evolution in the history of Ferrero North America, the company states, and supports the global business’ strategy of strengthening its position in the sweet packaged food category.
Ferrero’s U.S. business has grown 6 percent in past five year, the company reports, and it has recently integrated acquired brands including Butterfinger, Crunch and Fannie May. It operates a New Jersey headquarters, four new distribution centers, and is building its first ever chocolate manufacturing plant in North America in Bloomington, IL.
Siwak was previously president and CEO of Ferrara Candy Co., Inc., a related company of the Ferrero Group. During his seven years in that role, he oversaw significant revenue and profit growth as a result of organizational restructuring, product revitalizations and the elimination of operational inefficiencies Ferrero reports. Prior to joining Ferrara, Siwak was an operating partner at the private equity firm L Catterton, where he served as interim CEO for multiple companies in the firm’s portfolio.
“I’m proud to join Ferrero North America and to build on the momentum here,” says Siwak. “Ferrero has an impressive portfolio of iconic brands and a reputation for product quality and excellence. I’m eager to work closely with this talented team and continue to bring value to the market, while strengthening Ferrero’s position in North America.”