WASHINGTON (dpa-AFX) - Snacks major Hershey Co. (HSY) announced Tuesday the appointment of Kirk Tanner to succeed Michele Buck as President and Chief Executive Officer, effective August 18.
He currently serves as President and Chief Executive Officer of Wendy's Co. (WEN), which separately announced the appointment of Ken Cook, currently its Chief Financial Officer, as interim CEO to succeed Tanner.
Tanner will depart Wendy's effective July 18, and the Wendy's Board of Directors has launched a comprehensive search process to select a permanent CEO.
Hershey in its statement noted that Buck had announced her intention to retire from the company at the beginning of this year. She will work closely with Tanner in a senior advisory capacity to ensure a successful transition.
Prior to Wendy's, Tanner spent over three decades at PepsiCo, Inc., where he ultimately served as Chief Executive Officer of PepsiCo Beverages North America. Tanner also held several other senior leadership positions at PepsiCo.
Mary Kay Haben, Lead Independent Director and Chair of the CEO Search Committee, said, 'With a track record of driving growth in complex global businesses, Kirk brings a focused, results-driven mindset. 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.'
In pre-market activity on the NYSE, Hershey shares were losing 0.3 percent to trade at $175.10, while Wendy's on the Nasdaq is down around 0.4 percent at $11.25.
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