Michele Buck to Assume Leadership of U.S. Confection Business on Interim Basis Upon Departure of Michael Del Pozzo

Rhea-AI Summary

The Hershey Company (NYSE: HSY) announced that Michael Del Pozzo, President of U.S. Confection, will leave the company on December 12, 2024. CEO Michele Buck will temporarily lead the U.S. Confection Business while the company searches for a successor from both internal and external candidates. Del Pozzo is returning to PepsiCo to take on a new leadership role. During this interim period, Buck will work with the U.S. Confection leadership team to drive business growth and advance Hershey's Leading Snacking Powerhouse vision.

Positive

• CEO Michele Buck's direct oversight could provide strategic continuity and leadership stability
• Company maintains strong pipeline of internal and external candidates for succession

Negative

• Unexpected departure of key executive leading core U.S. Confection business
• Potential disruption in business leadership during transition period

Insights

Financial Analyst

The departure of U.S. Confection President Michael Del Pozzo and interim leadership by CEO Michele Buck represents a significant but manageable transition for Hershey. The U.S. Confection segment is Hershey's core business, contributing the majority of revenue and operating income. Buck's direct oversight during this period could actually be beneficial, as her extensive experience in the confectionery industry and intimate knowledge of Hershey's operations positions her well to maintain business continuity.

While leadership changes can create short-term uncertainty, several factors mitigate concerns: Buck's proven track record as CEO since 2017, the existing strong leadership team in U.S. Confection and the company's robust succession planning with both internal and external candidates. The timing of the announcement before year-end suggests a planned transition rather than an abrupt departure, which should help ensure a smooth handover of responsibilities.

HERSHEY, Pa., Dec. 10, 2024 /PRNewswire/ -- The Hershey Company (NYSE: HSY) today announced that Michael Del Pozzo, President, U.S. Confection, is departing the company effective December 12, 2024. Michele Buck, The Hershey Company President and Chief Executive Officer, will assume leadership of the U.S. Confection Business while the company identifies a successor from among a strong pipeline of internal and external candidates.

Del Pozzo is returning to PepsiCo – where he had worked his entire career prior to joining Hershey – and will assume a new leadership role.

Buck will partner closely with the highly experienced U.S. Confection leadership team during this interim period to lead the business through its next phase of growth and advance Hershey's Leading Snacking Powerhouse vision.

About The Hershey Company
The Hershey Company (NYSE: HSY) is an industry-leading snacks company known for making more moments of goodness through its iconic brands, remarkable people and enduring commitment to doing the right thing for its people, planet, and communities. Hershey has more than 20,000 employees in the U.S. and worldwide who work daily to deliver delicious, high-quality products. The company has more than 90 brand names in approximately 80 countries that drive more than $11.2 billion in annual revenues, including Hershey's, Reese's, Kisses, Kit Kat®, Jolly Rancher, Twizzlers and Ice Breakers, and salty snacks including SkinnyPop, Pirate's Booty and Dot's Homestyle Pretzels.

For over 130 years, Hershey has been committed to operating fairly, ethically and sustainably. The candy and snack maker's founder, Milton Hershey, created Milton Hershey School in 1909, and since then, the company has focused on helping children succeed through equitable access to education.

To learn more visit www.thehersheycompany.com.

Follow:
http://www.twitter.com/hersheycompany
https://www.linkedin.com/company/the-hershey-company
http://www.facebook.com/hersheycompany
http://www.youtube.com/hersheycompany
http://www.instagram.com/hersheycompany

View original content to download multimedia:https://www.prnewswire.com/news-releases/michele-buck-to-assume-leadership-of-us-confection-business-on-interim-basis-upon-departure-of-michael-del-pozzo-302326892.html

SOURCE The Hershey Company

FAQ

When is Michael Del Pozzo leaving Hershey (HSY)?

Michael Del Pozzo is leaving Hershey (HSY) effective December 12, 2024.

Who will lead Hershey's U.S. Confection Business after Del Pozzo's departure?

Michele Buck, Hershey's President and CEO, will temporarily lead the U.S. Confection Business while the company searches for a successor.

Where is Michael Del Pozzo going after leaving Hershey (HSY)?

Michael Del Pozzo is returning to PepsiCo, where he had worked his entire career before joining Hershey, to assume a new leadership role.

Is Hershey (HSY) considering internal candidates for the U.S. Confection President role?

Yes, Hershey is considering both internal and external candidates from their strong pipeline for the U.S. Confection President position.