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The Hershey Co. Lays Out CEO Succession Plan

CEO Michele Buck will retire June 30, 2026 after two decades at the company.
The Hershey Co. logo & Michele Buck
Michele Buck (right)

HERSHEY, Pa. — Leadership changes are coming at The Hershey Co.

Last month, the candy and snack manufacturer announced that Michele Buck, chairman of the board of directors, president and CEO, will retire from the company effective June 30, 2026. She intends to serve in her existing roles until her successor is appointed, at which time she plans to resign from the board and transition to a senior advisor role until her retirement.

The board has appointed a special committee to direct the search for Hershey's next CEO and will consider external and internal candidates, in partnership with a nationally recognized search firm, the company said.

"It has been the pinnacle of my career to lead Hershey, a truly one-of-a-kind company. Our team has created one of the strongest and most recognizable snacking portfolios in the industry and I am immensely proud of what we have accomplished," Buck said. "I am a firm believer that our long-term success is rooted in Hershey culture — the spirit of innovation has kept us at the forefront of new and changing trends to best serve our customers and consumers, made us a stronger partner for our communities and contributed to significant value creation for our shareholders.

"This year will be my 20th at Hershey and as we embark on a new year, I believe now is the right time to formally activate our succession planning and begin the transition to Hershey's next leader," she added.

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Buck has served as CEO for eight years.

"The board is grateful for Michele's vision and transformational leadership, not only over the past eight years as our CEO but for the past two decades," said Victor Crawford, lead independent director of the board. "Michele has made innumerable marks on Hershey, including serving as the key architect of the company's expansion into broader snacking categories, driving sustainable international growth and building advanced capabilities and growth platforms to evolve Hershey into a stronger and more diversified business. Succession planning is a matter the board and Michele have been discussing and with Michele's continued guidance and leadership, we are confident we will execute a seamless transition."

Other Leadership Changes

In addition to the succession planning surrounding Buck's retirement, The Hershey Co. made two leadership appointments, effective Feb. 3: Andrew Archambault as president, U.S. Confection, and Veronica Villasenor as president, Salty Snacks. 

Hershey_Andrew Archambault
Andrew Archambault

Archambault, who joins Hershey from Keurig Dr Pepper (KDP), and Villasenor, who is a Hershey veteran of 22 years, will be part of Hershey's Executive Committee and will work closely with the team to continue advancing the manufacturer's priorities and play key company-wide leadership roles. 

[Read more: Hershey Rejects Mondelēz's Preliminary Takeover Bid]

Archambault will oversee a portfolio of iconic brands including Hershey's, Reese's and Jolly Rancher. He brings a wealth of experience from KDP where he was instrumental in evolving well-known brands, including Dr Pepper, Canada Dry, Core Water and Motts, to deliver results at scale, the company stated.

Most recently, as president, U.S. Refreshment Beverages, Archambault grew the business and positioned KDP for the long-term through strategic acquisitions and partnerships. He previously served as chief customer officer at KDP and held leadership roles across corporate, customer and sales teams at The Nature's Bounty, Co., Bacardi USA and The Coca-Cola Co.

"It is an honor to join Hershey during a period of strategic transformation," Archambault said. "I, like so many others, am inspired by this iconic company and its beloved brands and look forward to working with the incredible Hershey team to build for the future as we take this business to the next level of growth."

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Hershey_Veronica Villasenor
Veronica Villasenor

Villasenor's proven track record at Hershey will help drive Salty Snacks' growth ambitions, the company stated. She previously served as vice president of Salty Snacks and brings a unique perspective from her roles in management, marketing and innovation from across Hershey's three business units — Salty Snacks, Confection and International. 

"I am honored to step into this new role and continue building our portfolio and capabilities to deliver accelerated growth with our Salty Snacks team," Villasenor said. "Throughout my career at Hershey, I have been deeply committed to delivering for our customers, delighting our consumers and developing our people. I'm excited to continue this journey."

She succeeds Kristen Riggs, who is leaving Hershey after 20 years to pursue other opportunities.

"Andrew is a proven executive who has transformed complex consumer brand portfolios through his deep commercial expertise and customer-centric approach. I am very excited to pair this announcement with an internal promotion, welcoming Vero [Veronica] as our new president of Salty Snacks," Buck said. "Vero's extensive experience across the Hershey business will be key to the continued success of our Salty business. I am confident that Andrew and Vero are the right leaders to advance our leading snacking powerhouse vision and deliver on our next phase of growth. 

"I also want to thank Kristen for her many valuable contributions during her long tenure at Hershey, including her leadership integrating Dot's and Pretzel's Inc. and setting up the commercial foundation to scale our Salty Snacks business. I wish her the very best in all her future endeavors," she added.

Headquartered in Pennsylvania, The Hershey Co. has more than 90 brand names in approximately 80 countries that drive more than $11.2 billion in annual revenues, including Hershey's, Reese's, Kisses, Kit Kat, Jolly Rancher, Twizzlers and Ice Breakers, and salty snacks including SkinnyPop, Pirate's Booty and Dot's Homestyle Pretzels. The company has more than 20,000 employees in the United States and worldwide. 

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