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Hershey Media Report 10/27/16
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Hershey's Chairman to Retire Next Year
Oct 27, 2016 | Quality Assurance Magazine
The Hershey Company recently announced that John P. Bilbrey, Chairman, President and Chief Executive Officer, intends to retire from the company July 1, 2017. Bilbrey will continue as non-executive chairman of Hershey’s Board of Directors following his retirement as President and CEO. -
What to Look for When Hershey (HSY) Reports Q3 Results
Oct 26, 2016 | The Street
By Rachel Aldrich
Shares of Hershey (HSY) were higher in late afternoon trading on Wednesday ahead of the company's 2016 third quarter earnings report due before Friday's opening bell.
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Hershey's Chairman to Retire Next Year
Oct 27, 2016 | Quality Assurance Magazine
The Hershey Company recently announced that John P. Bilbrey, Chairman, President and Chief Executive Officer, intends to retire from the company July 1, 2017. Bilbrey will continue as non-executive chairman of Hershey’s Board of Directors following his retirement as President and CEO.
“I have had the privilege of working in consumer packaged goods for more than 35 years and leading The Hershey Company has been the highlight of my career,” said Bilbrey. “Our iconic brands, remarkable employees and commitment to making a difference in the world has made this a difficult decision for me. But now is the right time to begin the process of handing over the reins as CEO as it will allow me to spend more time with my family and wonderful grandchildren.”
“I am proud of all that we have accomplished as a team,” Bilbrey continued. “I am confident that the board will identify an outstanding candidate to lead The Hershey Company through this next phase of growth. I look forward to working alongside the board to make the transition to new leadership a seamless process. Until that time, I will continue to work closely with my management team to grow the business and create additional value for all stockholders.”
As part of The Hershey Company’s succession planning process, the board has appointed a special committee to direct the search for a new CEO. The committee is led by Pamela Arway, Chair of the Governance Committee. The committee will review internal and external candidates with assistance from Egon Zehnder, a leading executive search firm.
“J.P. has been a great leader for The Hershey Company and we are grateful for his unwavering commitment and many contributions to Hershey’s success during his 13 years with the company,” said Arway. “Succession planning has always been a top priority for our board of directors, and we look forward to an orderly leadership transition. We are confident in J.P. and his leadership team and know they will continue to focus on growing the business while upholding Hershey’s great heritage and values as the board conducts a thorough search to identify the right person to lead this company into the future.”
The company also reaffirmed its full-year 2016 outlook outlined in the company’s second quarter 2016 earnings announcement.
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What to Look for When Hershey (HSY) Reports Q3 Results
Oct 26, 2016 | The Street
By Rachel Aldrich
Shares of Hershey (HSY) were higher in late afternoon trading on Wednesday ahead of the company's 2016 third quarter earnings report due before Friday's opening bell.
Analysts are looking for the Hershey, PA-based snacks company to post adjusted earnings of $1.19 per share on revenue of $2 billion.
In the same quarter last year, Hershey reported adjusted earnings of $1.17 per share on $1.96 billion in revenue.
Deutsche Bank said recently that pressure in the U.S. snacks and confections categories makes the firm "cautious" about Hershey stock.
"We also believe that emerging markets investment, while logical, represents near-term risk to earnings with an increasingly longer path to profitability," Deutsche Bank noted.
The firm has a "hold" rating and $105 price target on Hershey shares.
Hershey said earlier this month that its CEO John Bilbrey will retire on July 1, 2017. The company's board has elected a committee to search for his replacement.
This comes after the company rejected a $23 billion acquisition bid from snack maker Mondelez (MDLZ) this summer.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, notable return on equity, expanding profit margins and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
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