Hershey CEO to step down by June 2026

The Hershey Company has announced that Michele Buck, Chairman of the Board of Directors, President and Chief Executive Officer, will retire from the company effective June 30, 2026. Ms. Buck intends to serve in her existing roles until her successor is appointed, at which time she plans to resign from the Board and transition to a senior advisor role until her retirement.

Michele Buck, Chairman of the Board of Directors, President and Chief Executive Officer, Hershey

The Board has appointed a special committee to direct the search for the Company's next CEO and will consider external and internal candidates, in partnership with a nationally recognized search firm.

"It has been the pinnacle of my career to lead Hershey, a truly one-of-a-kind company. Our team has created one of the strongest and most recognizable snacking portfolios in the industry and I am immensely proud of what we have accomplished," said Buck. "I am a firm believer that our long-term success is rooted in Hershey culture – the spirit of innovation has kept us at the forefront of new and changing trends to best serve our customers and consumers, made us a stronger partner for our communities and contributed to significant value creation for our shareholders. This year will be my 20^th at Hershey and as we embark on a new year, I believe now is the right time to formally activate our succession planning and begin the transition to Hershey's next leader."

Victor Crawford, Lead Independent Director of the Board, said, "The Board is grateful for Michele's vision and transformational leadership, not only over the past eight years as our CEO but for the past two decades. Michele has made innumerable marks on Hershey, including serving as the key architect of the Company's expansion into broader snacking categories, driving sustainable international growth and building advanced capabilities and growth platforms to evolve Hershey into a stronger and more diversified business. Succession planning is a matter the Board and Michele have been discussing and with Michele's continued guidance and leadership, we are confident we will execute a seamless transition."

Hershey reaffirms its previously announced full-year 2024 financial outlook and intends to provide its 2025 outlook in connection with its regularly scheduled earnings release in February.