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The Hershey Co. has reorganized its structure to better leverage its scale in the United States and accelerate the company's growth in key global markets. The changes are designed to further strengthen the company's current performance while capitalizing on long-term growth opportunities.
Highlights of the new structure include the formation of: a U.S. Commercial Group, charged with building Hershey's confectionery leadership while capitalizing on its scale in the U.S. snack market; an International Commercial Group, with responsibility for pursuing profitable growth opportunities in key markets in the Americas and Asia; and a Global Growth and Innovation Group, with responsibility for building global brands, developing benefit-driven growth platforms for the short- and long-term, and strengthening marketing capabilities worldwide.
"We've made great strides in executing Hershey's value-enhancing strategy in recent years, delivering record sales, market share and earnings from operations," said Richard H. Lenny, chairman, president and CEO, The Hershey Co. "Now is the right time, as we approach the close of what we expect will be another strong year, to take steps to strengthen our performance in the near term and build a structure that will continue our momentum for the long term.
"The [new] organizational structure will allow Hershey to capture a larger share of the U.S. snack market while broadening its international presence. Unifying our U.S. business, adding much-needed global capabilities, and aligning selected international opportunities with total company resources will ensure that we continue to achieve top-tier performance."
Chris Baldwin, formerly senior vice president, chief global customer officer, has been appointed senior vice president, president U.S. Commercial Group. Michele Buck, formerly senior vice president, president U.S. Snacks, has been appointed senior vice president, chief marketing officer, U.S. Commercial Group, reporting to Baldwin.
"In addition to building our confectionery leadership position," continued Lenny. "Chris quickly and effectively has established Hershey's retail presence in several high potential snack segments. His new role will ensure that the streamlined U.S. Commercial Group delivers superior results from both a consumer and customer standpoint."
Thomas Hernquist, formerly senior vice president, president U.S. Confectionery, has been appointed senior vice president, global chief growth officer. Hernquist will be responsible for all major new platform and new product development efforts across the company and around the globe, as well as for brand positioning, portfolio strategy, Integrated Business Intelligence, and such major corporate initiatives as Health & Wellness and multi-cultural marketing.
Dan Azzara, vice president, Innovation & Quality, will report to Hernquist. In this role, Dan will be responsible for creating global platforms that simultaneously build Hershey's business in the United States and in select international markets. In addition, he will ensure that the company's innovation pipeline delivers new products in the near term while developing platforms for several years out.
“Under Dan's leadership, our R & D group has delivered exceptional new product innovation within our core U.S. confectionery business," Lenny said. "Most recently, it has enabled us to effectively extend our brands into selected snack market segments. Dan will bring this same level of product innovation to all of our businesses, regardless of geographic market."
The most recent addition to the Hershey lineup is Hershey's Kissables candy, miniature candy-coated versions Kisses. The blue, red, yellow, green and orange candy come in convenient, single-serve packaging.
With revenues of over $4 billion and more than 13,000 employees worldwide, Hershey, markets such well-known brands as Hershey's, Reese's, Hershey's Kisses, Kit Kat, Almond Joy, Mounds, Jolly Rancher, Twizzlers, Ice Breakers, and Mauna Loa, as well as new products such as Take 5 and Hershey's Cookies
In addition to its traditional confectionery products, Hershey offers a range of products specifically developed to address the nutritional interests of today's health-conscious consumer. These products include sugar-free Hershey's, Reese's and York candies, and PayDay Pro. It also markets Hershey's cocoa, Hershey's syrup and other branded baking ingredients, toppings and beverages.
In addition, Artisan Confections Company, a wholly owned subsidiary of The Hershey Co., markets such premium chocolate offerings as Scharffen Berger, known for its high-cacao dark chocolate products, and Joseph Schmidt, recognized for its fine, handcrafted chocolate gifts.