Pins matching tag:"Kirk Tanner"

Hershey hired Kirk Tanner, Wendy's CEO and a PepsiCo veteran of more than 30 years, who ran its $28 billion North American beverage business, as its next CEO from August 18, 2025. Wendy's named its CFO interim CEO the same morning.

Former Wendy's and PepsiCo executive Kirk Tanner became Hershey's President and CEO and joined its board, while Michele Buck stepped down. Maria Kraus, who also chairs the Hershey Trust, replaced Buck as chairman.

Under new CEO Kirk Tanner, Hershey's third-quarter net sales rose 6.5% to $3.18 billion on about 6 points of price, while adjusted EPS fell 44% to $1.30 on cocoa and tariff costs; it raised its 2025 sales outlook to about 3%.

Hershey ended a cocoa- and tariff-hit 2025 with full-year net income down 60% to $883 million on sales up 4.4% to $11.7 billion, then guided 2026 to 4-5% sales growth and a 30-35% rebound in adjusted earnings per share.

After Brad Reese, grandson of the cup's inventor, accused Hershey of swapping milk chocolate for cheaper compound coatings, CEO Kirk Tanner said the company will return to classic milk and dark chocolate recipes by 2027.

At an investor day at the New York Stock Exchange led by CEO Kirk Tanner, Hershey set out its ONE Hershey plan across sweet, salty and protein snacks. It targeted 2-4% organic sales growth, 15-20% adjusted EPS growth in 2027 and 6-8% from 2028.

Hershey's first-quarter net sales rose 10.6% to $3.10 billion on about 10 points of price and the LesserEvil deal, and adjusted EPS rose 12% to $2.35 as reported profit nearly doubled; it reaffirmed its 2026 outlook.

Hershey's second-quarter adjusted EPS rose 57% to $1.90 and net sales 6.6% to $2.79 billion as 12 points of price outweighed an 8-point volume drop, and it narrowed its 2026 outlook upward to 32.5-35% adjusted EPS growth.

Hershey promoted Dave Hulays, its SVP Finance, at Hershey since 2012 after 15 years at P&G, to CFO with immediate effect. Steve Voskuil, CFO for seven years, moved to strategic projects ahead of retiring in early 2027.

Hershey's third-quarter 2026 results, the first test of its narrowed outlook for 4.5-5% sales growth and a 32.5-35% rebound in adjusted earnings per share as cocoa costs ease.