Pins matching tag:"Michele Buck"

Michele Buck, Hershey's chairman and CEO, a 20-year Hershey veteran who took the top job in 2017, told the board she would retire by June 30, 2026. A board committee began an external and internal search for her successor.

Hershey closed 2024 with fourth-quarter net sales up 8.7% to $2.89 billion and adjusted EPS up 33% to $2.69, then warned that surging cocoa prices would cut 2025 adjusted earnings per share by about a third on sales growth of at least 2%.

Hershey's first-quarter net sales fell 13.8% to $2.81 billion and adjusted EPS 32% to $2.09 as it lapped last year's pre-ERP stock build and a later Easter; it held its 2025 outlook and put Q2 tariff costs at $15-20 million.

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.

Hershey's second-quarter net sales jumped 26% to $2.61 billion on Easter timing and early Halloween shipments, but it cut its 2025 earnings outlook to a 36-38% adjusted EPS decline after putting full-year tariff costs at $170-180 million.

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.