Hershey Appoints Kirk Tanner CEO Replacing Michele Buck

Michele Buck, Hershey's longtime CEO since 2017, is retiring earlier than planned, with Kirk Tanner, current CEO of Wendy's, set to succeed her on August 18, 2025. Buck, one of the longer-tenured female CEOs in the Fortune 500, will remain as an advisor during the transition. Tanner brings over three decades of experience with PepsiCo and expressed enthusiasm about leading Hershey and advancing its strategic goals. Hershey's stock experienced a decline following the announcement, with Morgan Stanley attributing the weakness to investor preference for an internal candidate and Tanner's limited public CEO track record. Despite the stock's recent underperformance, Tanner's appointment marks a significant leadership change as Hershey navigates a challenging market environment and consumer trends. The change also impacts the representation of female CEOs in the Fortune 500, where women lead just over 10% of companies.