Hershey's Appoints Former PepsiCo and Wendy's Exec Kirk Tanner as CEO

Kirk Tanner, former CEO of Wendy's and PepsiCo, appointed as Hershey's new CEO, replacing Michele Buck. Tanner has a 31-year career at PepsiCo, where he rose through the ranks to CEO. He also spent a year as Wendy's CEO before leaving. Tanner will begin his new role on August 18, 2025.

The Hershey Company (NYSE:HSY) has appointed Kirk Tanner as its new CEO and President, effective August 18, 2025. Tanner, who previously served as CEO of Wendy’s and held executive positions at PepsiCo, will replace Michele Buck, who announced her retirement earlier this year. Tanner's extensive industry experience, particularly in pricing and productivity strategies, is expected to bring a new dynamic to Hershey's leadership.

Tanner's appointment coincides with a 10% price increase for Hershey's stock over the last quarter, likely influenced by his industry experience. The company has also seen incremental gains in a generally stable market, despite broader trade uncertainties. The appointment of Tanner and the introduction of new products, such as the ONE x Hershey's protein bar, have bolstered investor confidence [1].

Tanner's compensation at Hershey is structured to reflect his significant experience and the importance of his role. He will receive a base salary of $1.25 million, with the potential to earn an annual equity-based compensation award of up to $9 million. Additionally, he is eligible for a restricted stock unit award worth $7 million and a performance stock unit worth $4 million, both vesting over a three-year period. This compensation package is notably higher than Michele Buck's total compensation at Wendy’s last year, which was $17.3 million [2].

Hershey's stock performance has shown resilience despite recent earnings pressures. Over the past five years, the stock has achieved a total return of 53.93%, indicating overall investor confidence. However, recent earnings have been under pressure compared to the previous year's figures. The introduction of new products and innovations in existing lines, such as the Reese's lineup, could potentially boost revenue and earnings forecasts by expanding market share and tapping into health-conscious consumer trends.

Investors may need to assess whether anticipated revenue growth and profit margin preservation align sufficiently with the forecasts to justify Hershey's current share valuation. The company's stock is currently trading at US$170.01, above the consensus price target of US$165.73. Hershey's performance has lagged behind the broader US market but has outperformed the US food industry in the past year, highlighting the brand's resilience amidst sector-specific challenges [1].

References:
[1] https://simplywall.st/stocks/us/food-beverage-tobacco/nyse-hsy/hershey/news/hershey-nysehsy-appoints-former-pepsico-executive-kirk-tanne
[2] https://finance.yahoo.com/news/does-hershey-ceo-salary-compare-150537659.html