Hershey, one of the leading names in the confectionery industry, has made a significant announcement regarding its future leadership. The company has named Kirk Tanner, the current chief executive of Wendy’s, as its next CEO, effective August 18. This decision marks a crucial transition for Hershey, as Tanner brings with him a wealth of experience in the consumer packaged goods (CPG) industry.
Tanner’s career in the CPG industry spans over three decades, with a significant portion of it spent at PepsiCo. During his time at PepsiCo, Tanner held various senior roles, including CEO of PepsiCo Beverages North America. In this role, he played a key role in the growth and success of iconic brands such as Pepsi, Gatorade, and Mountain Dew. His extensive experience and leadership skills make him a valuable addition to Hershey’s executive team.
Tanner’s appointment comes at a pivotal moment for Hershey, as the company looks to continue its transformation into a snacking powerhouse. Under the leadership of outgoing CEO Michele Buck, Hershey has made significant strides in diversifying its product portfolio beyond traditional sweets. Buck oversaw the company’s expansion into gummies and salty snacks, as well as the acquisition of SkinnyPop owner Amplify for $1.6 billion.
Despite these achievements, Hershey faces challenges in the current snacking landscape, with declining sales and increased costs. The company reported a 14% sales drop in the first quarter, attributed in part to changing consumer preferences and economic uncertainties. Additionally, Hershey has been grappling with higher cocoa costs and the impact of tariffs, seeking exemptions to mitigate the financial burden.
With his experience in leading transformational initiatives and driving growth in the beverage industry, Tanner is well-positioned to lead Hershey through these challenges. His track record of success at PepsiCo, combined with his strategic vision and operational expertise, make him a strong fit for the role of CEO at Hershey.
In a statement, Mary Kay Haben, lead independent director and chair of Hershey’s CEO Search Committee, praised Tanner’s leadership qualities and industry experience. She highlighted his passion for customer and consumer engagement, commercial acumen, and track record of driving innovation and growth in the food and beverage sector.
As Tanner prepares to take on his new role at Hershey, he will work closely with Michele Buck during the transition period. Buck’s legacy and strategic vision have laid a strong foundation for Hershey’s future success, and Tanner’s appointment signals a new chapter in the company’s journey towards becoming a leading player in the snacking industry.
