The Hershey Company (NYSE: HSY) announced that its Board of Directors has elected Michele Buck as chairman of the Board of Directors of The Hershey Company, effective immediately. Buck will also continue in her current role as president and chief executive officer of the snacking company, a role she has held since March 2017.  Buck succeeds chairman Chuck Davis who will reassume the role of lead independent director, a role he held from May 2017 until his appointment as chairman in May 2018.

The combination of the offices of CEO and chairman of the Board underscores the Board’s confidence in Hershey, the existing management team and Buck. Under Buck’s leadership, Hershey has delivered strong financial results while successfully executing on the strategic vision of the company through portfolio expansion, profitable international growth, and positioning the company for future growth and value creation for all Hershey stakeholders.  

“For the past couple of years, I’ve had the honor to work closely with Chuck Davis in his role as chairman and it has been an incredible opportunity to learn from one of the best,” said Buck. “I am privileged to succeed him as he reassumes the role of lead independent director. On behalf of everyone here at Hershey, I’d like to thank Chuck for his continued leadership and sage counsel as we position Hershey for another 125 years of success.”

“These changes to our Board reflect Michele’s vision and leadership and we look forward to supporting The Hershey Company on its journey to becoming an innovative snacking powerhouse,” said Davis. “Hershey has a rich legacy of creating shareholder value in a manner that reflects our principles of excellence, togetherness, integrity and making a difference.”