Hershey’s Stock Price Plummets Amid Leadership Shake-Up

The Hershey Co. has just suffered a crushing blow to its stock price, with shares plummeting more than the general market average. This devastating decline comes hot on the heels of the company’s announcement that it will be appointing a new CEO, Kirk Tanner, to take the reins from Michele Buck on August 18. But is this change enough to turn the company’s fortunes around?

Tanner, the current President and CEO of Wendy’s, brings a wealth of experience in leadership roles to the table, having previously worked at Pepsi and Wendy’s. However, his track record is far from flawless. At Wendy’s, he oversaw a period of stagnant sales growth, and his tenure at Pepsi was marked by a series of high-profile marketing missteps.

But the real question on everyone’s mind is: what does this mean for the company’s future? The Hershey Co. has announced plans to eliminate artificial colors from its snack products by 2027, a move that is expected to have a positive impact on the company’s image and consumer trust. However, this change comes at a significant cost, with the company likely to incur substantial expenses in the short term.

The Bottom Line

• Hershey’s stock price has plummeted, with shares falling more than the general market average.
• The company has appointed a new CEO, Kirk Tanner, who brings experience in leadership roles but a questionable track record.
• The company plans to eliminate artificial colors from its snack products by 2027, a move that is expected to have a positive impact on the company’s image and consumer trust.

What’s Next?

The future of the Hershey Co. remains uncertain, with many questions still unanswered. Will Tanner’s leadership be enough to turn the company’s fortunes around? Will the elimination of artificial colors be enough to win back consumer trust? Only time will tell. But one thing is certain: the Hershey Co. has a long and difficult road ahead of it.