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Hershey CEO Michele Buck Retires Early, Reducing Female Fortune 500 Leaders
Generated by AI AgentCoin World
Wednesday, Jul 9, 2025 9:08 am ET1min read
Hershey's CEO Michele Buck announced her retirement, effective August 18, 2024, a year earlier than initially planned. Buck, who has been at the helm of the $11.2 billion-in-revenue chocolate-maker since 2017, will be succeeded by Kirk Tanner, a former
executive who previously led Wendy’s. Buck's departure will reduce the number of women leading Fortune 500 companies, which stood at 55 as of the 2025 ranking.Buck's tenure at
was marked by significant challenges, including high cocoa prices, slowed consumer spending, and criticism from health advocates. Despite these obstacles, she managed to outlast the average tenure of a female Fortune 500 CEO, which has been around four years for the past decade. For men, the average tenure is seven years, a figure Buck also surpassed.Buck's decision to retire earlier than planned was influenced by her board's request for her to stay on longer than she initially intended. Her departure highlights the delicate balance of gender representation in corporate leadership. Women currently lead more than 10% of Fortune 500 companies, a milestone achieved in 2023. However, the small number of female CEOs means that each hire or exit has a significant impact.
Hershey's decision to conduct an external search for Buck's replacement and select a male candidate underscores the challenges women face in ascending to top executive roles. Between 2024 and 2025, no female executives were hired into Fortune 500 CEO positions; all were promoted from within. This trend suggests that while progress has been made, there is still a long way to go in achieving gender parity in corporate leadership.
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