Hershey Names Michael Del Pozzo as President of U.S. Confection

Rhea-AI Summary

The Hershey Company (NYSE: HSY) has appointed Michael Del Pozzo as President of U.S. Confection, effective September 16. Del Pozzo brings 23 years of experience from PepsiCo, where he most recently led Gatorade's $10 billion business. He will join Hershey's Executive Committee and work alongside the leaders of Salty Snacks and International divisions to advance the company's strategic goals.

Del Pozzo succeeds Charles Raup, who is retiring after 15 years with Hershey. CEO Michele Buck praised Del Pozzo's consumer insights, customer relationships, and track record of delivering results, stating he is ideally positioned to guide the U.S. Confection business through its next chapter and advance Hershey's Leading Snacking Powerhouse vision.

Positive

• Appointment of experienced industry leader Michael Del Pozzo as President of U.S. Confection
• Del Pozzo brings 23 years of experience from PepsiCo, including leadership of a $10 billion business
• Strategic alignment with Hershey's vision as a Leading Snacking Powerhouse

Negative

• Departure of Charles Raup, a 15-year veteran of the company

Insights

Market Research Analyst

The appointment of Michael Del Pozzo as President of U.S. Confection at Hershey is a strategic move that could potentially reshape the company's market position. Del Pozzo's extensive experience at PepsiCo, particularly his success in transforming Gatorade into a $10 billion business, suggests he may bring innovative strategies to Hershey's iconic brands.

His background in diversifying product portfolios and driving growth in the competitive beverage industry could translate well to Hershey's confectionery market. Investors should watch for potential new product launches or brand extensions that could expand Hershey's market share. However, it's important to note that the confectionery market faces different challenges, such as health-conscious consumer trends, which may require a nuanced approach.

Financial Analyst

While leadership changes can create short-term uncertainty, Del Pozzo's track record at PepsiCo suggests potential for long-term value creation at Hershey. His experience managing a $10 billion business at Gatorade indicates he's well-equipped to handle Hershey's U.S. Confection division, which is a significant revenue driver for the company.

Investors should monitor for any strategic shifts or operational changes in the coming quarters that could impact Hershey's financial performance. Key metrics to watch include revenue growth, market share and profit margins in the U.S. Confection segment. Del Pozzo's customer-centric approach and sales background could potentially lead to improved retailer relationships and distribution strategies, potentially boosting Hershey's top-line growth.

HERSHEY, Pa., Sept. 5, 2024 /PRNewswire/ -- The Hershey Company (NYSE: HSY) today announced the appointment of Michael Del Pozzo as President, U.S. Confection, effective September 16. In this role, Del Pozzo will lead Hershey's next phase of U.S. growth with a portfolio of iconic brands including Hershey's, Reese's and Jolly Rancher.

With a career spanning 23 years at PepsiCo, Del Pozzo brings a wealth of experience in leading growth and transformation for some of the world's most recognizable consumer brands such as Gatorade®, Propel®, Muscle Milk® and Evolve®. In his recent role as President and General Manager of Gatorade, Del Pozzo oversaw a $10 billion business, transforming the traditional sports drinks company into a portfolio of sports and fitness brands. Prior to Gatorade, he led the sales and commercial functions for Frito Lay North America as Chief Customer Officer and held multiple other leadership roles across PepsiCo.

Del Pozzo will join Hershey's Executive Committee and work closely with its other two business unit leaders, Kristen Riggs, President, Salty Snacks, and Rohit Grover, President, International, to advance Hershey's strategic ambitions and meet the needs of consumers and customers. Del Pozzo is succeeding Charles Raup, who is retiring from Hershey after 15 years to pursue other executive opportunities.

"Mike's deep consumer insights, his customer relationships, and his track record of delivering results and driving strategic change position him as the ideal leader to guide our U.S. Confection business through its next chapter. He will be instrumental in building on our strengths and advancing our Leading Snacking Powerhouse vision," said Michele Buck, The Hershey Company Chairman and Chief Executive Officer. "I want to thank Chuck for his many valuable contributions during his long tenure at Hershey. We wish him the very best in his future endeavors."

"I am thrilled to join Hershey at such an exciting time for the company," said Del Pozzo. "I am inspired by the company's history, culture and talent. Its brands hold a unique place in the market and in the hearts of consumers. I look forward to working with Michele and the amazing team at Hershey to build on this strong foundation and help lead the U.S. Confection business through its next phase of growth and innovation."

About The Hershey Company 

The Hershey Company (NYSE: HSY) is an industry-leading snacks company known for making more moments of goodness through its iconic brands, remarkable people and enduring commitment to doing the right thing for its people, planet, and communities. Hershey has more than 20,000 employees in the U.S. and worldwide who work daily to deliver delicious, high-quality products. The company has more than 90 brand names in approximately 80 countries that drive more than $11.2 billion in annual revenues, including Hershey's, Reese's, Kisses, Kit Kat®, Jolly Rancher, Twizzlers and Ice Breakers, and salty snacks including SkinnyPop, Pirate's Booty and Dot's Homestyle Pretzels.

For over 130 years, Hershey has been committed to operating fairly, ethically and sustainably. The candy and snack maker's founder, Milton Hershey, created Milton Hershey School in 1909, and since then, the company has focused on helping children succeed through equitable access to education.

To learn more visit www.thehersheycompany.com.

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SOURCE The Hershey Company

FAQ

Who is the new President of U.S. Confection at Hershey (HSY)?

Michael Del Pozzo has been appointed as the new President of U.S. Confection at Hershey (HSY), effective September 16, 2024.

What is Michael Del Pozzo's background before joining Hershey (HSY)?

Michael Del Pozzo has 23 years of experience at PepsiCo, most recently serving as President and General Manager of Gatorade, where he oversaw a $10 billion business.

Who did Michael Del Pozzo replace as President of U.S. Confection at Hershey (HSY)?

Michael Del Pozzo is succeeding Charles Raup, who is retiring from Hershey after 15 years to pursue other executive opportunities.

What is Hershey's (HSY) strategic vision that Michael Del Pozzo will help advance?

Michael Del Pozzo will help advance Hershey's 'Leading Snacking Powerhouse' vision in his role as President of U.S. Confection.