Philadelphia-based confectionery giant Hershey Foods is looking certain to go under the hammer as Robert C. Vowler, president and CEO of major shareholder Hershey Trust Co, reiterated the Trust’s commitment to exploring the sale options for the firm.
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The Hershey Trust board met yesterday [Wednesday] to discuss its plan to explore the possible sale of Hershey Foods. According to Vowler, it “continues to believe this course is in keeping with its fiduciary responsibility to protect and preserve the Trust which, through the Milton Hershey School, serves children in need and which intends to serve even more children in the future”.
Vowler added however: “The board continues to share the concerns that many people have expressed about the potential effect of a sale on the community. The board reaffirmed its commitment to address those issues when and if the sale would proceed.”
