Executive Shifts Continue at Hershey

HERSHEY, Pa. --Following a series of changes in the confectioner's upper management this year -- including the retirement of Chairman Kenneth L. Wolfe -- William Christ, COO of Hershey, Pa.-based Hershey Foods Corp. yesterday suddenly announced his retirement from the company. A successor has not yet been named.Although the retirement was voluntary, the reconstruction of the company's top executive team, which includes new heads of marketing and business development installed by Rick Lenney, who assumed the duties of CEO in March, indicate that the company is poised to make changes that may ultimately impact retailers.Lenney in October announced a $218 million realignment that will include eliminating non-strategic brands, the closure of three manufacturing facilities and a distribution center, the outsourcing of the production of cocoa powder, a reduction of raw material inventories and a realignment of the corporation's sales organization.
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