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Press release from Business Wire

The Hershey Company Enhances Executive Management Team

Wednesday, April 24, 2013

The Hershey Company Enhances Executive Management Team

16:28 EDT Wednesday, April 24, 2013

HERSHEY, Pa. (Business Wire) -- The Hershey Company (NYSE: HSY), the largest producer of quality chocolate in North America, and a global leader in chocolate, sweets and refreshments, announced several changes to its global leadership team, effective May 13.

“Hershey is well positioned in the marketplace and our momentum in the U.S. and key international markets gives us confidence in our business strategy,” said John P. Bilbrey, President and Chief Executive Officer, The Hershey Company. “These organizational enhancements will help accelerate our global growth by broadening and leveraging our leadership expertise, knowledge and capabilities across the company. We have an experienced management team, great talent throughout the organization andthe right vision, strategy, talent and brands to win wherever we compete.”

To further enhance the company's ability to execute its business strategy, accelerate international growth and develop and broaden leadership talent, the company is implementing the following:

  • Humberto P. Alfonso, will become President, International. Alfonso has extensive international experience and will drive business growth for all Hershey businesses outside the U.S. and Canada, positioning the company to achieve its international growth objectives. Alfonso currently serves as Hershey's Chief Financial Officer and Chief Administrative Officer.
  • David W. Tacka, will become Senior Vice President, Chief Financial Officer. Tacka has held senior executive positions within the company, including Chief Accounting Officer. His extensive financial experience will benefit Hershey as it maintains its disciplined approach to global expansion.
  • Michele G. Buck, currently Hershey's Chief Growth Officer, will become President, North America. In her new role, Buck's strategic focus and consumer expertise will help accelerate Hershey's growth in the U.S. and Canada, the company's primary performance drivers.
  • E. Daniel Vucovich, will become Senior Vice President, Chief Commercial Officer. Vucovich's go-to-market experience and expertise will assist in the global growth of Hershey's iconic brands. Vucovich currently leads Hershey's U.S. business.
  • D. Michael Wege, currently Chief Commercial Officer, will become Senior Vice President, Chief Growth and Marketing Officer. Wege will lead Hershey's strategic planning, research and development, innovation, and global Hershey Experience. He will continue to drive the company's knowledge capabilities as well as Hershey's marketing initiatives and corporate brand reputation.

In addition, the company announced that Waheed Zaman will join the company as Senior Vice President, Chief Administrative Officer on April 29. Zaman will be responsible for optimizing Hershey's information technology and global shared services functions as the company expands internationally. Zaman is an industry leader for transformational global productivity in large consumer packaged goods companies working previously for Chiquita Brands International and Procter & Gamble.

About The Hershey Company

The Hershey Company (NYSE: HSY) is the largest producer of quality chocolate in North America and a global leader in chocolate and sugar confectionery. Headquartered in Hershey, Pa., The Hershey Company has operations throughout the world and approximately 14,000 employees. With revenues of more than $6.6 billion, Hershey offers confectionery products under more than 80 brand names, including such iconic brands as Hershey's, Reese's, Hershey's Kisses, Hershey's Bliss, Hershey's Special Dark, Kit Kat, Twizzlers, Jolly Rancher and Ice Breakers. The company is focused on growing its presence in key international markets such as China, Mexico and Brazil while continuing to build its competitive advantage in the United States and Canada.

For more than 100 years, The Hershey Company has been a leader in making a positive difference in the communities where its employees live, work and do business. Corporate Social Responsibility is an integral part of the company's global business strategy, which includes goals and priorities focused on fair and ethical business dealings, environmental stewardship, fostering a desirable workplace for employees, and positively impacting society and local communities. Milton Hershey School, established in 1909 by the company's founder and funded by a trust administered by Hershey Trust Company, provides a quality education, housing, and medical care at no cost to children in social and financial need. Students of Milton Hershey School are direct beneficiaries of The Hershey Company's success.

Safe Harbor Statement

This release contains statements that are forward-looking. These statements are made based upon current expectations that are subject to risk and uncertainty. Because actual results may differ materially from those contained in the forward-looking statements, you should not place undue reliance on the forward-looking statements when deciding whether to buy, sell or hold the Company's securities. Factors that could cause results to differ materially include, but are not limited to: issues or concerns related to the quality and safety of our products, ingredients or packaging; changes in raw material and other costs; selling price increases, including volume declines associated with pricing elasticity; market demand for our new and existing products; increased marketplace competition; disruption to our supply chain; failure to successfully execute and integrate acquisitions, divestitures and joint ventures; changes in governmental laws and regulations, including taxes; political, economic, and/or financial market conditions; risks and uncertainties related to our international operations; disruptions, failures or security breaches of our information technology infrastructure; the impact of future developments related to the investigation by government regulators of alleged pricing practices by members of the confectionery industry and civil antitrust lawsuits in the United States; pension costs or funding requirements that could increase at a higher than anticipated rate; and such other matters as discussed in our Annual Report on Form 10-K for 2012.

All information in this press release is as of April 24, 2013. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

The Hershey Company
FINANCIAL CONTACT:
Mark Pogharian, 717-534-7556
or
MEDIA CONTACT:
Leigh Horner, 717-508-1247

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