Candy billionaire Forrest E. Mars dies

Forrest E. Mars began his company career as financial staff officer for M&M’s Candies in 1959 ©iStock/urbanbuzz

Mars has announced its former president has Forrest E. Mars died on Tuesday (July 26) aged 84.

Forrest E. Mars was the world’s 27th richest man with a net worth of $23.4bn, according to Forbes’ rich list.

Accelerated sales

Mars said Forrest and his sister Jacqueline had helped grow the company’s sales from $1bn to $35bn since inheriting the business.

Grant F. Reid, CEO and Office of the President for Mars, said Forrerst was a “great inspiration” to all working at the company.

“Forrest will be sorely missed, but his contributions and the legacy he leaves behind at Mars will be long-lasting,” he said.

Work history and philanthropy

Forrest E. Mars joined Mars as financial staff officer for M&M’s Candies in 1959, following four years as an accountant at Price Waterhouse and two years in the US Army.

He was appointed general manager of a new-build confectionery factory in Veghel, Netherlands in 1961 and worked there for five years before becoming managing director of Mars France.

In 1970, he was appointed group vice president and assumed responsibility for the group’s confectionery operations.

He later took responsibility for all the company’s businesses together with his brother John. The pair became co-presidents in 1975. At this time, the company’s net sales amounted to just over $1bn.

Forrest E. Mars retired as a Mars associate in 1999, but continued to offer guidance and was a Board member until 2006. Today the company net sales are around $35bn.

The company has also praised its former president for his philanthropic initiatives, such as supporting environmental preservation projects like the American Prairie Reserve, and preserving American history via projects with museums.

Related News

Mars will bring three M&M's seasonal flavors back to the US market along with Boo-tterscotch this year.

Mars adds Boo-tterscotch M&M's to Halloween lineup

Ethel M plays 'specialty role' in our North American business, says Mars

Mars’ Ethel M invests $2m to renovate Nevada factory store

Mars fully owns Wrigley after purchasing minority stake from Berkshire Hathaway.

Mars warns of possible job cuts after merging chocolate division and Wrigley

Mars developed a new technology to prevent the new M&M's Caramel from being smushed.  Photo: Mars

Mars debuts caramel-filled M&M's produced by new technology

Protein bars launched to meet growing consumer demand in UK, says Mars

Mars taps ‘mainstream’ trend with protein chocolate launches

Wrigley investment signals a 'milestone'  for Mars’ presence in Russia, says the company

Mars to invest $9m in Wrigley Russia plant

In the past five years, Mars has invested $1 billion in U.S. factories and operations, creating more than 1,000 jobs.

Mars opens new Skittles production line at Yorkville Wrigley factory

Submit a comment

Your comment has been saved

Post a comment

Please note that any information that you supply is protected by our Privacy and Cookie Policy. Access to all documents and request for further information are available to all users at no costs, In order to provide you with this free service, William Reed Business Media SAS does share your information with companies that have content on this site. When you access a document or request further information from this site, your information maybe shared with the owners of that document or information.