In a significant leadership transition within the food and beverage industry, Kirk Tanner, the current CEO of Wendy’s, is set to become the next President and CEO of The Hershey Company, effective August 18, 2025. Tanner will succeed Michele Buck, who is retiring after a transformative tenure at Hershey. Buck will remain with the company in a senior advisory role to ensure a smooth transition.
Tanner, who assumed the role of CEO at Wendy’s in February 2024, brought with him over three decades of experience from PepsiCo, where he held various leadership positions, including CEO of PepsiCo Beverages North America. During his time at Wendy’s, Tanner focused on brand growth, innovation, and global expansion. His initiatives included introducing AI-enabled voice-ordering systems at drive-throughs and launching unique product collaborations, such as meals featuring Takis chips and SpongeBob SquarePants characters.
Despite these efforts, Wendy’s faced challenges, including a decline in same-store sales and a 31% drop in stock value amid broader economic pressures. Tanner’s departure comes at a pivotal time for the company, which is navigating a competitive fast-food landscape and shifting consumer behaviors.
Ken Cook, Wendy’s Chief Financial Officer since December 2024, will serve as interim CEO following Tanner’s departure on July 18, 2025. Cook brings a wealth of experience from his previous roles at United Parcel Service, where he held various finance-related positions, including CFO for the U.S. Domestic segment.
At Hershey, Tanner is expected to leverage his extensive background in the food and beverage sector to drive growth and innovation. His appointment comes as Hershey navigates challenges such as rising tariff-related costs and high cocoa prices. Mary Kay Haben, chair of Hershey’s CEO search committee, expressed confidence in Tanner’s ability to lead the company into the future, citing his deep experience in snacks, beverages, M&A, and innovation.
In a statement, Tanner expressed enthusiasm about leading Hershey, calling it a “once-in-a-lifetime opportunity” to work with beloved brands. He emphasized his commitment to understanding and delighting consumers, building strong partnerships with customers, and investing in colleagues.
The market reacted modestly to the announcement, with Hershey’s shares declining approximately 3% and Wendy’s shares experiencing a slight increase. As both companies prepare for their respective leadership transitions, stakeholders will be closely monitoring the strategic directions under new leadership.
