Michele G. Buck
Also at Hershey Co
About
Currently, the executive has built a reputation as a transformational leader with more than 30 years of experience in the consumer-packaged goods industry. Her strategic vision has been pivotal in evolving HSY into a diversified snacking powerhouse, driving sustainable international growth and strengthening the company’s market position.
Over the course of nearly two decades at HSY, she has advanced through progressively responsible roles – from Executive Vice President and Chief Operating Officer to President, and ultimately assuming the roles of Chairman, President, and CEO in October 2019. This progression underscores her deep operational expertise and commitment to excellence in corporate leadership.
In addition to her leadership at HSY, she has contributed to the broader business community by serving on the board of New York Life Insurance Company since 2013 and preparing for a planned retirement transition in 2026, after which she will continue to offer strategic guidance as a senior advisor. Her career reflects a blend of innovative strategy, robust industry experience, and impactful governance.
$HSY Performance Under Michele G. Buck
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| The Hershey Company | President and Chief Executive Officer | March 2017 - October 2019 | Former role before current HSY position |
| The Hershey Company | Executive Vice President and Chief Operating Officer | June 2016 - March 2017 | Preceded her role as CEO at HSY |
| The Hershey Company | Various Other Executive Roles | N/A | Over 19 years of service at HSY |
External Roles
| Organization | Role | Date Range |
|---|---|---|
| New York Life Insurance Company | Director | Since November 2013 |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,400,000 | Annual (accrual basis) | Earned on an accrual basis for 2023 |
| Change in Pension Value and Non-Qualified Deferred Compensation Earnings | $2,569,968 | Annual recognition | Represents the change in the present value of accumulated pension benefits and deferred comp earnings during 2023 |
| All Other Compensation | $493,373 | Annual | Includes: 401(k) Match ($14,850), Supplemental 401(k) Match ($235,350), Supplemental Retirement Contribution ($1,291), Personal Use of Company Aircraft ($186,832), Company-Paid Financial Counseling ($11,845), Company-Paid Executive Physical ($7,204), Attorney Fees ($36,001) |
Performance Compensation
Stock Awards
| Metric | Details/Amount |
|---|---|
| Performance Metrics | Three-year relative TSR (34% weight) ; Three-year CAGR in Adjusted EPS (33% weight) ; Three-year Cumulative Free Cash Flow (33% weight) |
| Performance Score Range | 0% to 250% |
| Threshold | 11 PSUs |
| Target | 22,018 PSUs |
| Maximum (Cap) | 55,045 PSUs |
| Grant Date | February 21, 2023 |
| Grant Date Fair Value | $8,256,692 |
| Grant Date Stock Price | Determined using the NYSE closing price on the award date |
| Vesting Schedule | Three-year performance cycle (2023-2025) |
| Payout | Payment made in shares of Common Stock at the end of the performance cycle |
Non-Equity Incentive Plan Compensation (OHIP)
| Metric | Details/Amount |
|---|---|
| Performance Metrics | Net Sales; Adjusted EPS; Free Cash Flow |
| Threshold | $4,032 |
| Target | $2,240,000 |
| Maximum (Cap) | $4,480,000 |
| Calculation | Base Salary × 160% (target OHIP percentage) × financial performance multiplier (0% to 200%) |
| Vesting/Payout | No vesting schedule; awards are paid out annually based on performance |
| Evaluation Period | Performance is assessed on an annual basis |
| Adjustment | The Compensation Committee may adjust the final OHIP award based on the quality of financial and non-financial performance results |