The Hershey Company Enhances Executive Management Team
HERSHEY, Pa. -- April 24, 2013
The Hershey Company (NYSE: HSY), the largest producer of quality chocolate in
North America, and a global leader in chocolate, sweets and refreshments,
announced several changes to its global leadership team, effective May 13.
“Hershey is well positioned in the marketplace and our momentum in the U.S.
and key international markets gives us confidence in our business strategy,”
said John P. Bilbrey, President and Chief Executive Officer, The Hershey
Company. “These organizational enhancements will help accelerate our global
growth by broadening and leveraging our leadership expertise, knowledge and
capabilities across the company. We have an experienced management team, great
talent throughout the organization and the right vision, strategy, talent and
brands to win wherever we compete.”
To further enhance the company's ability to execute its business strategy,
accelerate international growth and develop and broaden leadership talent, the
company is implementing the following:
*Humberto P. Alfonso, will become President, International. Alfonso has
extensive international experience and will drive business growth for all
Hershey businesses outside the U.S. and Canada, positioning the company to
achieve its international growth objectives. Alfonso currently serves as
Hershey’s Chief Financial Officer and Chief Administrative Officer.
*David W. Tacka, will become Senior Vice President, Chief Financial
Officer. Tacka has held senior executive positions within the company,
including Chief Accounting Officer. His extensive financial experience
will benefit Hershey as it maintains its disciplined approach to global
*Michele G. Buck, currently Hershey’s Chief Growth Officer, will become
President, North America. In her new role, Buck’s strategic focus and
consumer expertise will help accelerate Hershey’s growth in the U.S. and
Canada, the company’s primary performance drivers.
*E. Daniel Vucovich, will become Senior Vice President, Chief Commercial
Officer. Vucovich’s go-to-market experience and expertise will assist in
the global growth of Hershey’s iconic brands. Vucovich currently leads
Hershey’s U.S. business.
*D. Michael Wege, currently Chief Commercial Officer, will become Senior
Vice President, Chief Growth and Marketing Officer. Wege will lead
Hershey’s strategic planning, research and development, innovation, and
global Hershey Experience. He will continue to drive the company’s
knowledge capabilities as well as Hershey’s marketing initiatives and
corporate brand reputation.
In addition, the company announced that Waheed Zaman will join the company as
Senior Vice President, Chief Administrative Officer on April 29. Zaman will be
responsible for optimizing Hershey’s information technology and global shared
services functions as the company expands internationally. Zaman is an
industry leader for transformational global productivity in large consumer
packaged goods companies working previously for Chiquita Brands International
and Procter & Gamble.
About The Hershey Company
The Hershey Company (NYSE: HSY) is the largest producer of quality chocolate
in North America and a global leader in chocolate and sugar confectionery.
Headquartered in Hershey, Pa., The Hershey Company has operations throughout
the world and approximately 14,000 employees. With revenues of more than $6.6
billion, Hershey offers confectionery products under more than 80 brand names,
including such iconic brands as Hershey's, Reese's, Hershey's Kisses,
Hershey's Bliss, Hershey's Special Dark, Kit Kat, Twizzlers, Jolly Rancher and
Ice Breakers. The company is focused on growing its presence in key
international markets such as China, Mexico and Brazil while continuing to
build its competitive advantage in the United States and Canada.
For more than 100 years, The Hershey Company has been a leader in making a
positive difference in the communities where its employees live, work and do
business. Corporate Social Responsibility is an integral part of the company’s
global business strategy, which includes goals and priorities focused on fair
and ethical business dealings, environmental stewardship, fostering a
desirable workplace for employees, and positively impacting society and local
communities. Milton Hershey School, established in 1909 by the company's
founder and funded by a trust administered by Hershey Trust Company, provides
a quality education, housing, and medical care at no cost to children in
social and financial need. Students of Milton Hershey School are direct
beneficiaries of The Hershey Company's success.
Safe Harbor Statement
This release contains statements that are forward-looking. These statements
are made based upon current expectations that are subject to risk and
uncertainty. Because actual results may differ materially from those contained
in the forward-looking statements, you should not place undue reliance on the
forward-looking statements when deciding whether to buy, sell or hold the
Company's securities. Factors that could cause results to differ materially
include, but are not limited to: issues or concerns related to the quality and
safety of our products, ingredients or packaging; changes in raw material and
other costs; selling price increases, including volume declines associated
with pricing elasticity; market demand for our new and existing products;
increased marketplace competition; disruption to our supply chain; failure to
successfully execute and integrate acquisitions, divestitures and joint
ventures; changes in governmental laws and regulations, including taxes;
political, economic, and/or financial market conditions; risks and
uncertainties related to our international operations; disruptions, failures
or security breaches of our information technology infrastructure; the impact
of future developments related to the investigation by government regulators
of alleged pricing practices by members of the confectionery industry and
civil antitrust lawsuits in the United States; pension costs or funding
requirements that could increase at a higher than anticipated rate; and such
other matters as discussed in our Annual Report on Form 10-K for 2012.
All information in this press release is as of April 24, 2013. The Company
undertakes no duty to update any forward-looking statement to conform the
statement to actual results or changes in the Company's expectations.
The Hershey Company
Mark Pogharian, 717-534-7556
Leigh Horner, 717-508-1247
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