Hershey CEO announces plans for retirement
Michele Buck, chair of the Board of Directors, president and CEO of the Hershey Co. has announced her retirement, but she’s giving plenty of notice so that company can find the right successor.
Buck informed the company’s board of directors that she intends to retire June 30, 2026.
Buck said she intends to serve in her existing roles until her successor is appointed, at which time she plans to resign from the board and transition to a senior advisor role until her retirement.
In reaction to the news, the board has appointed a special committee to direct the search for the company’s next CEO and will consider external and internal candidates, in partnership with a nationally recognized search firm.
“It has been the pinnacle of my career to lead Hershey, a truly one-of-a-kind company. Our team has created one of the strongest and most recognizable snacking portfolios in the industry and I am immensely proud of what we have accomplished,” said Buck. “I am a firm believer that our long-term success is rooted in Hershey culture – the spirit of innovation has kept us at the forefront of new and changing trends to best serve our customers and consumers.”
Victor Crawford, lead independent director of the board, commented on Buck’s planned departure
“The Board is grateful for Michele’s vision and transformational leadership, not only over the past eight years as our CEO but for the past two decades. Michele has made innumerable marks on Hershey, including serving as the key architect of the company’s expansion into broader snacking categories, driving sustainable international growth and building advanced capabilities and growth platforms to evolve Hershey into a stronger and more diversified business.”
He said he is confident that the board will be able to execute a successful succession plan.
Hershey reaffirmed its previously announced full-year 2024 financial outlook and intends to provide its 2025 outlook in connection with its regularly scheduled earnings release in February.