Hershey has appointed Andrew Archambault as president of its US confection division and named Veronica Villasenor president of salty snacks.
Both appointments are effective from 3 February.
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The executive changes come after the chocolate maker revealed it had launched a search for a new lead executive to replace president, CEO and chair Michele Buck, who intends to retire from the business next year.
Buck has led the company for the past eight years and plans to step down on 30 June 2026.
Both newly appointed leaders will be part of Hershey’s executive committee and will work to “continue advancing the company’s priorities and play key company-wide leadership roles,” said the business in a statement.
Buck said: “Andrew is a proven executive who has transformed complex consumer brand portfolios through his deep commercial expertise and customer-centric approach.
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By GlobalData“I am very excited to pair this announcement with an internal promotion, welcoming Vero as our new president of salty snacks. Vero’s extensive experience across the Hershey business will be key to the continued success of our salty business.
“I am confident that Andrew and Vero are the right leaders to advance our leading snacking powerhouse vision and deliver on our next phase of growth.”
Villasenor succeeds Kristen Riggs, who is leaving Hershey after 20 years to pursue other opportunities. The new president has worked for Hershey for 22 years. She has been vice president of salty snacks for almost two years and has held different executive positions at the company since 2002.
“Throughout my career at Hershey, I have been deeply committed to delivering for our customers, delighting our consumers and developing our people. I’m excited to continue this journey,” she said.
Archambault will oversee a portfolio of the company’s brands including Hershey’s, Reese’s and Jolly Rancher in his new role.
He said in a statement: “I, like so many others, am inspired by this iconic company and its beloved brands and look forward to working with the incredible Hershey team to build for the future as we take this business to the next level of growth.”
Archambault joins the business from Keurig Dr Pepper, where he worked in executive roles for more than seven years. He has been president of US beverages since 2023. He has also held executive positions at Bacardi, The Coca-Cola Company and the supplement maker The Nature’s Bounty.
Hershey generated $11.2bn in annual revenue in 2023.
In November, Hershey lowered its forecasts for its net sales and earnings per share in 2024 amid what Buck called “a challenging consumer environment”.
In the third quarter, ended 29 September, Hershey reported net sales of $2.99bn, a marginal decrease from $3.03bn in the corresponding period of 2023, while operating profit for the quarter declined 16.6% to $613.2m.
