Hershey Company Announces Transition Plan for New CEO Leadership

Hershey's New Chapter: CEO Succession Plan

In a significant announcement, the Hershey Company, known for its iconic chocolate and snack brands, revealed that its current CEO, Michele Buck, intends to step down from her role by June 30, 2026. Buck, who has been at the helm of the company for several years, aims to ensure a smooth transition by remaining in her position until her successor is appointed. Following this transition, she will continue to act as a senior advisor to guide the company until her official retirement.

Hershey's Board of Directors is already taking proactive steps in this regard by forming a special committee that will oversee the search for Buck’s successor. This committee will consider both internal candidates within the organization and qualified external applicants, collaborating with a prestigious recruitment firm renowned for executive searches.

Reflecting on her time at Hershey, Buck expressed gratitude for the opportunity to lead a company that has become synonymous with snacking excellence. "It has been the pinnacle of my career to lead Hershey, a truly one-of-a-kind company," she stated. Over the next year, she plans to focus on reinforcing the strong culture within Hershey, which she believes is foundational to the company's long-term success and innovation.

Buck's tenure has seen the company expand into broader snacking categories while overseeing sustainable international growth. Victor Crawford, the Lead Independent Director on the Board, praised Buck for her vision and transformative leadership over the last two decades, highlighting her role in the company's evolution to meet modern snacking trends.

As Buck prepares to transition her leadership role, she has reaffirmed the company’s commitment to its financial outlook for the upcoming year. During the announcement, Hershey reiterated its previously stated financial projections for the full year of 2024, with further insights regarding 2025 to be shared during their next earnings release in February.

Hershey has established itself as an industry leader through its dedication to quality products and community engagement. The company boasts a diverse portfolio with more than 90 brand names across approximately 80 countries, yielding annual revenues exceeding $11.2 billion. Household names such as Hershey's, Reese's, and Kit Kat, among others, anchor its reputation in the confectionery realm.

The company's founder, Milton Hershey, instilled a commitment to social responsibility and sustainability since its inception. Hershey’s efforts in corporate social responsibility manifest through various initiatives aimed at improving children’s access to education via the Milton Hershey School, founded in 1909. Buck's departure will mark the culmination of a 20-year career with the company, a time during which she has overseen transformative efforts and built partnerships that contribute to Hershey’s longstanding successes.

As the Hershey Company prepares for this leadership change, it underscores the importance of strategic planning to not only ensure business continuity but also to maintain the high standards of quality and innovation that consumers have come to expect. The board remains confident in its ability to identify a forward-thinking successor who will lead Hershey into its next era of growth and creativity in the snacks segment.