Hershey names Kirk Tanner as new CEO, effective August 18

HERSHEY, Pa. - The Hershey Company (NYSE:HSY), currently valued at $35.57 billion with a stock price of $175.55, announced Tuesday that its Board of Directors has appointed Kirk Tanner as President and Chief Executive Officer, effective August 18, 2025. According to InvestingPro data, the company maintains a GOOD financial health score and has maintained dividend payments for 55 consecutive years. Tanner will succeed Michele Buck, who announced her intention to retire earlier this year.

Tanner joins Hershey after a career spanning over three decades at PepsiCo, where he most recently served as Chief Executive Officer of PepsiCo Beverages North America, overseeing a $28 billion business portfolio. He currently serves as President and CEO of The Wendy’s Company. He will be taking over a company that InvestingPro analysis shows generates $10.75 billion in revenue and offers a 3.12% dividend yield.

In his role at PepsiCo, Tanner was responsible for brands including Pepsi, Gatorade, and Mountain Dew, where he focused on brand building, innovation, and customer partnerships. His experience includes various leadership positions within PepsiCo, including President of PepsiCo Global Foodservice and Senior Vice President of Frito-Lay North America’s West Division.

"Kirk is a proven, high-impact leader in the food and beverage industry with a great combination of customer and consumer passion, commercial acumen and operational scale," said Mary Kay Haben, Lead Independent Director and Chair of the CEO Search Committee, in the press release.

Buck, who has led Hershey’s transformation into what the company describes as a "multi-category snacking leader," will remain with the company in a senior advisory capacity to ensure a smooth transition.

"Leading this business and having the privilege to work with such an exceptional team to transform Hershey into a multi-category snacking leader has been the greatest honor of my career," Buck stated.

Hershey, with annual revenues exceeding $11.2 billion, markets chocolate and confectionery brands such as Hershey’s, Reese’s, and Kit Kat, alongside salty snacks including SkinnyPop and Dot’s Homestyle Pretzels. Trading at a P/E ratio of 21.6, the company faces near-term challenges with analysts expecting net income to decline this year. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.

In other recent news, The Hershey Company is navigating significant financial challenges due to high cocoa prices and tariffs. Moody’s Ratings has affirmed Hershey’s A1 senior unsecured rating but shifted the outlook to negative, citing expected earnings weakness from elevated cocoa costs and tariffs. The company anticipates up to $100 million in unmitigated tariff impacts per quarter in the latter half of 2025. Additionally, Hershey’s leverage is projected to rise, with Moody’s predicting a decline in EBITDA by 25-30% in 2025. Piper Sandler has maintained an Underweight rating on Hershey, highlighting the pressure from tariffs and high cocoa prices, and adjusted its 2025 earnings per share estimate downwards. S&P Global Ratings also revised Hershey’s outlook to negative, with leverage expected to increase due to cocoa costs and acquisitions like the $750 million purchase of LesserEvil. Despite these financial pressures, Hershey shareholders recently approved key proposals at the annual meeting, including the election of directors and the ratification of Ernst & Young LLP as auditors.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.