Hershey

Hershey CEO Michele Buck To Retire In 2026

Chocolate maker Hershey on Friday announced the departure of CEO Michele Buck on 30 June 2026 following seven years at the helm.

Hershey’s main controlling owner has rejected Mondelēz International’s takeover offer, saying it was too low, Bloomberg News has reported.

Mondelēz International is exploring the acquisition of chocolate-maker Hershey, Bloomberg News reported on Monday.

Hershey trimmed its annual revenue and profit forecast after missing Wall Street estimates for the third-quarter, as price hikes hurt demand.

A spokesperson for Hershey said on Thursday that the chocolate maker laid off a small number of its employees this week.

Shares at Kellanova surged 18% in early trading on Monday after a Reuters report said Mars was exploring a potential buyout of the company.

Hershey cut its annual profit forecast on Thursday and posted a near 17% drop in quarterly sales, highlighting cautious consumer spending.

Mondelēz International missed expectations for second-quarter revenue on as budget-conscious customers opted for lower-priced alternatives.

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