Hershey Names Wendy’s CEO Kirk Tanner as New Chief Executive

The Hershey Company has announced that Kirk Tanner, current CEO of Wendy’s, will become its next chief executive, effective August 18. Tanner will succeed Michele Buck, who is retiring after nearly two decades at Hershey, including almost eight years as CEO, CNBC reports.

Tanner’s appointment marks a return to the consumer packaged goods industry, where he spent more than 30 years at PepsiCo, most recently leading the company’s North American beverage division. He joined Wendy’s in 2024 as CEO.

“Kirk is a proven, high-impact leader in the food and beverage industry with a great combination of customer and consumer passion, commercial acumen and operational scale,” said Mary Kay Haben, chair of Hershey’s CEO search committee, in a statement. “His deep experience in snacks, beverages, M&A and innovation—combined with public company CEO and board roles—makes him well suited to lead Hershey into the future.”

Michele Buck originally announced her intention to retire earlier this year. She will remain at Hershey through the end of 2025 in an advisory role to support the leadership transition.

At Wendy’s, Tanner will be succeeded on an interim basis by Chief Financial Officer Ken Cook, who has held the CFO role since early 2024. Cook previously served in senior leadership roles at UPS. Wendy’s board of directors has initiated a formal search process to identify a permanent CEO.

Hershey’s leadership change comes at a time when the company is navigating evolving consumer preferences and a competitive snack and confectionery market. Tanner is expected to bring a renewed focus on innovation and strategic growth as Hershey looks to expand its global footprint.

Shares of Hershey (HSY) closed down over 3% following the announcement, while Wendy’s (WEN) stock also dipped slightly.