The New CEO of Hershey: Everything You Need to Know
The Hershey Company
NYSE: HSY
19 East Chocolate Avenue
Hershey, PA 17033
United States
Main Phone: (717) 534-4200
Website: https://www.thehersheycompany.com
Industry Sector: Consumer Defensive - Confectioners
Full Time Employees: 18,075
Annual Revenue: $10.75 Billion
Fiscal Year End: July 2
Fortune 500 Rank: 379 in 2025
CEO: Kirk Tanner, new CEO effective August 2025
The Hershey Company, one of the world’s most iconic chocolate and snack brands, is entering a new era of leadership. In a move that has captured the attention of the food industry, Hershey has announced that Kirk Tanner will become its next President and Chief Executive Officer. This article explores the details of this major transition in a question-and-answer format, addressing the who, what, when, where, why, and how behind Hershey’s new CEO appointment.
Who is the new CEO of Hershey?
Kirk Tanner has been appointed as the new President and CEO of The Hershey Company. Tanner is a highly respected executive with a deep background in the food and beverage industry. He most recently served as CEO of The Wendy’s Company, where he led global operations, menu innovation, and brand expansion. Before his time at Wendy’s, Tanner spent over three decades at PepsiCo, rising through the ranks to eventually lead PepsiCo Beverages North America, a $28 billion business unit. His responsibilities at PepsiCo included overseeing some of the world’s most recognizable beverage brands such as Pepsi, Gatorade, Mountain Dew, and others. Tanner’s leadership experience also includes roles as President of PepsiCo Global Foodservice, Senior Vice President of Frito-Lay North America’s West Division, and Vice President of Sales for PepsiCo’s U.K. and Ireland operations.
Kirk Tanner is taking over from Michele Buck, who has served as Hershey’s CEO for nearly eight years and has been with the company for almost two decades. Buck is widely credited with transforming Hershey from a chocolate-focused business into a diversified snacking powerhouse. Under her leadership, Hershey expanded into new categories, strengthened its international presence, and built advanced capabilities that set the stage for future growth. Buck will remain with Hershey as a Special Advisor through June 2026 to ensure a smooth leadership transition.
What does this CEO change mean for Hershey?
The appointment of Kirk Tanner as CEO is part of a planned succession process. Michele Buck announced her intention to retire earlier in 2025, after a long and successful tenure. Hershey’s board launched a comprehensive search for her successor, evaluating both internal and external candidates to ensure the company would be guided by a leader with the right blend of experience, vision, and operational expertise. Tanner’s primary responsibilities as CEO will include driving growth and profitability across Hershey’s diverse portfolio of brands, continuing the company’s expansion into non-chocolate snacks, leading innovation in product development and marketing, fostering strong relationships with customers and employees, and ensuring operational excellence and sustainability. He will also be tasked with navigating industry challenges such as fluctuating commodity prices and global supply chain complexities.
Hershey’s public filings indicate that Tanner’s compensation package includes a base salary of $1.25 million, a target annual cash bonus set at 180% of his base salary (pro-rated for 2025), sign-on equity awards totaling $11 million with vesting over three years, and ongoing annual equity opportunities valued at $9 million. If his employment is terminated without cause, he is entitled to severance provisions that include 1.5 times his base salary, a pro-rated bonus, accelerated vesting of equity, and 18 months of continued benefits.
When is the leadership transition happening?
Kirk Tanner will officially assume the role of President and CEO of The Hershey Company on August 18, 2025. On that same date, he will join the company’s Board of Directors. Michele Buck announced her retirement earlier in 2025 and will remain with Hershey as a Special Advisor until June 30, 2026. She will also serve as an independent contractor through the end of 2026 to assist with the leadership transition and maintain continuity.
Where is the change taking place?
The Hershey Company is headquartered in Hershey, Pennsylvania, a town that has become synonymous with the brand itself. Kirk Tanner will be based at the company’s headquarters, leading Hershey’s global operations from this historic location. Tanner’s previous experience at PepsiCo and Wendy’s has given him a global perspective, with roles spanning North America, the U.K., and Ireland. This international experience is seen as highly relevant to Hershey’s ambitions for growth and expansion beyond its traditional markets.
Why did Hershey choose Kirk Tanner?
The decision to appoint Kirk Tanner as CEO was driven by several factors. The Hershey Board of Directors cited Tanner’s proven leadership in the food and beverage industry, his operational expertise, and his experience managing large, complex businesses. Tanner’s track record at PepsiCo and Wendy’s demonstrates his ability to drive growth, oversee innovation, and lead transformational change. His deep knowledge of snacks, beverages, mergers and acquisitions, and brand development aligns closely with Hershey’s strategic priorities. The Board also emphasized Tanner’s passion for customers, employees, and communities, as well as his commitment to Hershey’s purpose-driven culture. Mary Kay Haben, Hershey’s Lead Independent Director and Chair of the CEO Search Committee, stated that Tanner’s combination of customer and consumer passion, commercial acumen, and operational scale made him exceptionally well-suited to lead Hershey into the future.
Michele Buck’s decision to retire comes after a period of remarkable growth and transformation for Hershey. Her legacy includes expanding the company’s reach beyond chocolate, strengthening its international presence, and building a culture focused on innovation and responsibility. Buck’s vision for Hershey as a “Leading Snacking Powerhouse” and her commitment to people and communities have left an indelible mark on the company.
How was the CEO selection process conducted?
Hershey’s Board of Directors began a formal succession planning process in early 2025. A special committee was appointed to oversee the search, and a nationally recognized executive search firm was engaged to help identify and evaluate candidates. The process involved a thorough review of both internal and external candidates to ensure the best possible fit for Hershey’s future needs. To ensure continuity and a smooth transition, Michele Buck will remain actively involved as Special Advisor through June 2026 and as an independent contractor through the end of the year. This approach is designed to maintain stability, preserve institutional knowledge, and facilitate a seamless handover of leadership responsibilities.
In his first public comments as incoming CEO, Kirk Tanner expressed both enthusiasm and humility about joining Hershey. He emphasized his focus on three pillars that have guided his career: understanding and delighting consumers, building strong partnerships with customers, and investing in colleagues. Tanner stated that these commitments will continue to guide Hershey’s strategic decisions and fuel the growth of its iconic brands. He described the opportunity to lead Hershey as a “once-in-a-lifetime” chance to make a difference with beloved brands, and he looks forward to working closely with the Board and the entire team to advance Hershey’s ambition to be a leading snacking powerhouse.
The broader context of this transition is shaped by industry trends and challenges. The food and snack industry is evolving rapidly, with consumers seeking new flavors, healthier options, and more convenient formats. Hershey’s recent expansion into salty snacks and other categories reflects these shifts. At the same time, rising cocoa prices and global supply chain issues have pushed the company to diversify its product portfolio and seek greater operational efficiency. With strong brands, a global reach, and a commitment to innovation, Hershey is well-positioned for continued growth under Tanner’s leadership.
Both Michele Buck and Kirk Tanner have emphasized the importance of people—employees, customers, and communities—in Hershey’s ongoing success. The company’s culture, rooted in the values established by its founder Milton Hershey, remains central to its identity and purpose. As Hershey embarks on this new chapter, stakeholders across the company and beyond will be watching closely to see how Tanner builds on Buck’s legacy and leads the company into the future.
Hershey’s appointment of Kirk Tanner as its new CEO marks a significant milestone for the company. With his deep industry experience, proven leadership, and commitment to people and innovation, Tanner is poised to guide Hershey through its next phase of growth. As he takes the helm of one of America’s most beloved brands, the future of Hershey looks both exciting and full of promise.
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