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The Hershey Company is a global leader in the confectionery industry, renowned for its production of chocolate, sweets, mints, and other snacks. The company operates through three main segments: North America Confectionery, North America Salty Snacks, and International, with its products marketed under more than 90 brand names in approximately 80 countries worldwide . Hershey is the largest producer of quality chocolate in North America and has expanded its portfolio through strategic acquisitions to enhance its product offerings .
- North America Confectionery - Dominates the company's portfolio with iconic brands like Hershey's, Reese's, and Kisses, and includes non-chocolate confectionery brands such as Jolly Rancher and Twizzlers, as well as pantry items like baking ingredients and toppings .
- North America Salty Snacks - Features products like SkinnyPop popcorn and Dot's Homestyle Pretzels, contributing significantly to the company's growth .
- International - Encompasses operations outside North America with products tailored to regional markets, including Pelon Pelo Rico in Mexico and Sofit in India .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Michele G. Buck ExecutiveBoard | Chairman of the Board, President, and CEO | Director, New York Life Insurance Company | Michele G. Buck has been with Hershey since 2005 and became CEO in 2017. She has driven Hershey's expansion into broader snacking categories and international growth. | View Report → |
Andrew Archambault Executive | President of U.S. Confection | None | Andrew Archambault joined Hershey in 2025, previously holding leadership roles at Keurig Dr Pepper, and is known for transforming consumer brand portfolios. | |
Jennifer L. McCalman Executive | Vice President, Chief Accounting Officer | None | Jennifer L. McCalman joined Hershey in 2019 and became Chief Accounting Officer in 2021. | |
Steven E. Voskuil Executive | Senior Vice President and CFO | None | Steven E. Voskuil has been with Hershey since May 2024, overseeing financial operations as CFO. | |
Veronica Villasenor Executive | President of Salty Snacks | None | Veronica Villasenor has been with Hershey for 22 years and became President of Salty Snacks in 2025, recognized for her innovation and growth strategies in the Salty Snacks division. | |
Anthony J. Palmer Board | Lead Independent Director | Operating Partner at One Rock Capital Partners, LLC; Founder of TropicSport | Anthony J. Palmer has been a board member since 2011 and Lead Independent Director since 2020. He has extensive experience in the food and beverage industry. | |
Cordel Robbin-Coker Board | Director | Director of Hershey Trust Company; CEO of Carry1st | Cordel Robbin-Coker joined the board in 2024, with expertise in consumer technology and corporate governance from his role as CEO of Carry1st. | |
Huong Maria T. Kraus Board | Director | Chairman of Hershey Trust Company; CFO of Wedgewood Pharmacy | Huong Maria T. Kraus joined the board in 2023, bringing 25 years of experience in finance and corporate development. | |
Juan R. Perez Board | Director | EVP and CIO at Salesforce.com, Inc. | Juan R. Perez has been a director since 2019, with a background in supply chain management and technology from his career at UPS and Salesforce. | |
Kevin M. Ozan Board | Director | Director at McKesson Corporation; Director at Cineworld Group PLC | Kevin M. Ozan joined the board in 2024, bringing expertise in finance and strategic initiatives from his tenure at McDonald's. | |
M. Diane Koken Board | Director | Vice Chair of Hershey Trust Company; Director at Nationwide Mutual Funds | M. Diane Koken has been a director since 2017, providing expertise in insurance, risk management, and governance. | |
Mary Kay Haben Board | Director | Director at Grocery Outlet Holding Corp.; Trustee at Equity Residential | Mary Kay Haben has been a director since 2013, with a background in consumer-packaged goods from her leadership roles at Wm. Wrigley Jr. Company and Kraft Foods. | |
Robert M. Malcolm Board | Director | Executive in Residence at McCombs School of Business, University of Texas | Robert M. Malcolm has been a director since 2011, with expertise in strategic marketing and consumer products from his roles at Diageo PLC and Procter & Gamble. | |
Victor L. Crawford Board | Director | Director at Saputo Inc.; Board member at Pelotonia; Trustee at National Urban League | Victor L. Crawford has been a director since 2020, contributing expertise in finance, logistics, and supply chain management. |
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Given the significant increase in pricing competition in international markets such as Mexico and Brazil, where you've seen higher levels of competition and are a smaller player, how do you plan to protect or grow your market share in these regions while maintaining profitability?
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With increased competition domestically from private labels and smaller players impacting your take-home segment, especially as barriers to entry have lowered due to digital media, what specific strategies are you implementing to strengthen your position and revitalize your offerings in this segment?
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Your gross margins in the recent quarter came in below expectations, partly due to negative sales mix and volume deleverage; how do you plan to address these issues and improve gross margin performance moving forward?
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With the expected significant step-up in cocoa and sugar costs next year, leading to higher inflation rates than this year, how do you plan to manage these headwinds? Will you consider further pricing actions, and how might this impact volume and elasticity?
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You mentioned seeing only a mild impact from GLP-1 drugs on your categories, but given that multiple data sources indicate consumers on these medications are consuming disproportionately less of your products, how are you proactively adjusting your product portfolio and marketing strategies to mitigate potential long-term risks?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
McLane Company, Inc. | Primary wholesale distributor for Hershey’s products | All | 27% of consolidated net sales in 2024 , 23% of total accounts receivable at year-end 2024. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Sour Strips | 2024 | Hershey acquired Sour Strips on November 8, 2024 to enhance its sour candy category and reach new consumer segments; the deal features leadership continuity with founder Maxx Chewning remaining to drive marketing innovation. |
Weaver Popcorn Manufacturing, Inc. | 2023 | Completed on May 31, 2023, this acquisition for an initial cash consideration of $165.8 million provided Hershey with property, plant, and equipment assets, expanding its manufacturing capacity in the North America Salty Snacks segment and strengthening its supply chain capabilities. |
Pretzels Inc. | 2021 | Announced in 2021, the intended acquisition of Pretzels Inc. was aimed at boosting Hershey’s pretzel category expertise and innovation by adding manufacturing capacity from facilities in Indiana and Kansas. |
Dot's Pretzels, LLC | 2021 | Acquired on November 10, 2021, Dot's Pretzels, LLC—the fastest-growing scale brand in U.S. pretzels—was integrated (along with the manufacturing acquisition of Pretzels, LLC) to strengthen Hershey’s salty snack portfolio and support future growth. |
Lily's Sweets, LLC | 2021 | Completed on June 25, 2021, this acquisition involved an initial cash consideration of approximately $418–422 million plus a potential $5 million contingent payment; it strategically expanded Hershey’s better-for-you portfolio with a range of sugar-free and low-sugar confectionery products expected to deliver annualized net sales of over $100 million. |
Recent press releases and 8-K filings for HSY.
- Q1 2025 Financial Performance: Net sales declined 13.8% YoY to $2,805.4 million, net income fell 71.7% to $224.2 million, and diluted EPS dropped to $1.10 with adjusted EPS at $2.09 .
- Tariff Impacts: A planned mitigation expense of $15–$20 million in Q2 with an unmitigated risk of up to $100 million per quarter in Q3 and Q4, contributing to a high-40% decline in reported EPS .
- Strategic Pricing: Adjustments in Q2 and Q3 to counteract cocoa inflation and tariff costs are aimed at sustaining earnings growth despite narrower margins .
- Innovation & Seasonal Gains: Initiatives such as incremental shelf placements, a major Reese’s innovation coming in fall, and strong seasonal performance have boosted market and retail share .
- Cost Savings & M&A: Implementation of a $125 million cost savings program, along with strategic acquisitions (including Fulfil North America with intent to acquire LesserEvil) and a continued focus on M&A, though no buybacks are scheduled this year .
- Full-Year Outlook: Despite near-term operational challenges, management maintains full-year guidance with expected net sales growth of at least 2% .
- Hershey Co entered into a definitive agreement to acquire LesserEvil, a maker of organic, better-for-you snacks, enhancing its portfolio across confection and salty snack brands.
- The acquisition is expected to deliver category-leading growth and additional manufacturing capacity, with the transaction subject to regulatory approval and anticipated closing later this year.
- The Hershey Company amended and restated its by-laws effective March 4, 2025, outlining significant changes in board governance and procedures.
- The amendments require the Chairman to be an independent director—except while Michele Buck serves as both CEO and director—and implement a majority voting standard in uncontested director elections, including a mandatory director resignation policy if votes against exceed votes for.