Hershey CEO Michele Buck has announced her plans to retire on June 30, 2026, after a successful 20-year tenure at the company. Buck took over as CEO in 2017 and has been instrumental in driving innovation and growth at Hershey. She has been a key figure in expanding the company’s core brands such as Reese’s and Kit-Kat, while also diversifying its portfolio with acquisitions like SkinnyPop popcorn and Dot’s pretzels.
Buck’s decision to retire comes at a time when Hershey is facing various challenges in the market, including higher cocoa costs, inflation impacting consumer spending, and increased demand for weight-loss drugs. Despite these challenges, Buck has been focused on driving the company forward and ensuring its continued success.
In a statement, Buck expressed that now is the right time to activate the succession planning process and begin the transition to Hershey’s next leader. She intends to remain CEO and chairman until her successor is appointed, and the company’s board has set up a special committee to find the next CEO, considering both internal and external candidates.
During her time as CEO, Buck has been committed to creating a “snacking powerhouse” at Hershey. She has brought a sense of disruption and innovation to the 131-year-old company, with a focus on meeting the evolving needs of consumers in the snacking industry. Buck’s leadership has been characterized by a strong sense of responsibility towards all stakeholders, and she has been dedicated to driving growth and success at Hershey.
While Buck’s departure is still more than a year away, her announcement marks the second CEO change at a major food company in recent months. The Campbell’s Company also recently announced a CEO change, with Mick Beekhuizen set to succeed Mark Clouse in February. Clouse is resigning to join the NFL’s Washington Commanders as the team’s president.
Buck’s departure will undoubtedly be a significant transition for Hershey, but her legacy of innovation and leadership will continue to shape the company’s future. As Hershey prepares to appoint its next CEO, the company remains focused on driving growth, expanding its portfolio, and meeting the changing demands of the market. Buck’s successor will inherit a company with a strong foundation and a legacy of success, built on a commitment to quality, innovation, and consumer satisfaction.
In conclusion, Michele Buck’s announcement of her retirement as Hershey CEO marks the beginning of a new chapter for the company. Her leadership and vision have been instrumental in driving Hershey’s growth and success, and her successor will have big shoes to fill. As Hershey navigates the challenges and opportunities ahead, the company remains committed to delivering high-quality products and driving innovation in the snacking industry.