The Hershey Company has announced that Kirk Tanner, current CEO of The Wendy’s Company and former PepsiCo executive, will assume the role of President and Chief Executive Officer effective August 18, 2025. Tanner will succeed Michele Buck, who is set to retire in June 2026 after nearly a decade leading the iconic confectionery and snacking company.
Tanner brings over three decades of experience in the food and beverage industry. At PepsiCo, he held various leadership roles, including CEO of PepsiCo Beverages North America, overseeing a $28 billion portfolio of brands such as Pepsi, Gatorade, and Mountain Dew. Since February 2024, Tanner has served as CEO of Wendy’s, where he implemented innovative marketing strategies and technological advancements, including AI-enabled voice-ordering systems and unique product collaborations.
Michele Buck, who joined Hershey in 2005 and became its first female CEO in 2017, announced her retirement plans earlier this year. Under her leadership, Hershey expanded its portfolio beyond chocolate, acquiring brands like SkinnyPop and Dot’s Pretzels, and achieved a 46% increase in stock value. Buck will remain with the company as a senior advisor until her retirement to ensure a smooth transition.
Tanner’s appointment comes at a challenging time for Hershey, as the company navigates rising cocoa prices and potential tariff impacts, which are expected to affect earnings in the latter half of 2025. Despite these headwinds, Hershey’s board expressed confidence in Tanner’s ability to drive growth and innovation. Mary Kay Haben, lead independent director and chair of the CEO search committee, stated, “Kirk is a proven, high-impact leader in the food and beverage industry with a great combination of customer and consumer passion, commercial acumen, and operational scale.”
Following the announcement, Hershey’s shares experienced a modest decline of approximately 2%, reflecting investor caution amid the leadership change and broader industry challenges.
Tanner is expected to focus on expanding Hershey’s global footprint, enhancing operational efficiencies, and driving innovation across its diverse portfolio of brands. His experience in both the consumer-packaged goods and quick-service restaurant sectors positions him to lead Hershey through its next phase of growth.
