Hershey appoints Huong Maria T. Kraus as new board chairman

The Hershey Company (NYSE:HSY), a $36.2 billion market cap confectionery giant with annual revenues exceeding $11.3 billion, announced Monday that its board of directors has appointed Huong Maria T. Kraus as chairman of the board, effective immediately, following the retirement of Michele G. Buck from the role.

Kraus has served on Hershey’s board since May 2023 and is a current member of the board’s audit and governance committees, according to a statement provided in a press release and SEC filing. She brings experience in governance, finance, strategy, and corporate development.

In addition to her new role at Hershey, Kraus has been chairman of the board of Hershey Trust Company and Milton Hershey School since January 2024. She previously held the position of vice chair at both organizations beginning in January 2021, and has served as a director of Hershey Trust Company and as a member of the board of managers of Milton Hershey School since January 2018.

Kraus is also the chief financial officer of Wedgewood Pharmacy, a veterinary pharmacy solutions company, a position she has held since June 2021.

Hershey’s common stock trades on the New York Stock Exchange under the ticker (NYSE:HSY).

This information is based on a company statement included in a filing with the Securities and Exchange Commission.

In other recent news, Hershey has reported strong second-quarter earnings, surpassing expectations with earnings per share of $1.21. This exceeded Stifel’s estimate by $0.20, driven by better-than-expected sales and effective cocoa mitigation efforts. The company’s gross margin performance also contributed to these results, leading DA Davidson to maintain a Neutral rating on Hershey. Stifel has raised its price target on Hershey to $185 from $180, while CFRA has significantly increased its target to $212 from $169, citing potential outcomes for 2026 and solid momentum in the recent quarter.

Despite challenges such as cocoa inflation and tariffs, Hershey’s outlook remains positive according to these analyst firms. Additionally, Hershey and Mondelēz International have announced the launch of new collaborative products, responding to consumer demand for a Reese’s and Oreo flavor combination. The new products include the Reese’s Oreo Cup and the Oreo Reese’s Cookie. These developments highlight Hershey’s strategic efforts to engage consumers and navigate industry challenges effectively.

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