Hugh and Liz Vaughan from Prees Heath, near Whitchurch in Shropshire, were taking a taxi trip while on holiday in the Indian Ocean island state.
Mr Vaughan was a director of Landia, a Danish company which makes pumping equipment for the agricultural industry.
The firm said in a statement he would be "sorely missed" by friends and colleagues:
It is with deep sadness and shock that we have to report the untimely death of Hugh Vaughan, Director of Landia UK, who together with his wife Liz passed away after a road accident whilst travelling in a taxi during their holiday in Mauritius.
As the head of Landia UK since it was established in 1994, Hugh has guided the company to its position now as a highly reputable and continually growing manufacturer of top quality pumps and mixers.
Hugh will be sorely missed. We send our heartfelt sympathies to Hugh and Liz’s families.
A Foreign Office spokesman said they are supporting the family and are in contact with the Mauritian police.