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Hershey
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Hershey promotes Michele Buck to CEO
Dec 22, 2016 | Just Food
By Katy Askew
Hershey has announced that it will promote its chief operating officer, Michele Buck, to the post of CEO when John Bilbrey retires next year. -
Would Kraft Heinz Bid For Hershey Now That Mondelez Is Out Of The Picture?
Dec 21, 2016 | Benzinga
By Wayne Duggan
Mondelez International Inc MDLZ is officially off the table as a buyer of Hershey Co HSY. However, the U.S. election results may have ushered in a new era of domestic M&A that could see a new round of suitors for Hershey. -
Squawk Box
Dec 22, 2016 | CNBC
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Closing Bell
Dec 22, 2016 | CNBC
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Worldwide Exchange
Dec 22, 2016 | CNBC
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CBS 21 Morning News
Dec 22, 2016 | WHP-CBS (Harrisburg, PA)
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ABC27 News Daybreak at 6:00A
Dec 22, 2016 | WHTM-ABC (Harrisburg, PA)
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10 things you need to know before the opening bell
Dec 22, 2016 | Business Insider
Relevant Portion Included: Hershey has a new CEO. Michele Buck has been named president and CEO, effective March 1, 2017. Currently, Buck is the company's executive vice president and COO. -
Early movers: CAG, RAD, NKE, HSY, MU, APC & more
Dec 22, 2016 | CNBC
By Peter Schacknow
Relevant Portion Included: Hershey — The chocolate maker naming chief operating officer Michele Buck as its new CEO. Current Chief Executive J.P. Bilbrey had said in October that he would be stepping down, but he will remain on the job until March and will remain as nonexecutive chairman.
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Hershey promotes Michele Buck to CEO
Dec 22, 2016 | Just Food
By Katy Askew
Hershey has announced that it will promote its chief operating officer, Michele Buck, to the post of CEO when John Bilbrey retires next year.
The company, which confirmed Bilbrey's intention to step down earlier this year, said that Bilbrey will continue as a non-executive director at the chocolate group.
Bilbrey, who will have served as Hershey CEO for six years, stressed his successor's credentials and experience in the food sector.
"Michele is a proven leader who, during 11 years at Hershey and more than 25 years as an executive in the consumer packaged goods industry, has a demonstrated track record of building brands consumers love while bringing out the best in employees amid a rapidly changing business environment," said Bilbrey. "She has consistently displayed a keen sense for how to grow our iconic brands."
Pamela Arway, chair of the governance committee and chair of the board's special committee overseeing the CEO succession process, added that the Hershey board felt Buck offers "the right mix of outstanding vision and proven execution to continue taking our company forward".
Buck joined Hershey in 2005. During her time at the company she "spearheaded" growth initiatives and "strategic shifts" such as "sustained growth" in its core confectionery brands as the group moved from a "supply and demand driven business", Hershey said.
Buck was also described as the "architect" of Hershey's move into the snacking arena with the acquisitions of the Krave and Bark Thins brands.
Looking to the future, Buck commented: "The opportunity ahead for Hershey is tremendous, and to take advantage of it will require a clear focus on meeting the evolving needs of consumers while moving quickly to stay ahead of the trends shaping our business."
Buck will take the chief executive post on 1 March, Hershey revealed.
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Would Kraft Heinz Bid For Hershey Now That Mondelez Is Out Of The Picture?
Dec 21, 2016 | Benzinga
By Wayne Duggan
Mondelez International Inc MDLZ is officially off the table as a buyer of Hershey Co HSY. However, the U.S. election results may have ushered in a new era of domestic M&A that could see a new round of suitors for Hershey.
Kraft Heinz Co KHC may be in the mix. Kraft has reportedly been interested in a Mondelez buyout, but Donald Trump’s victory may have put a halt on international M&A for the time being.
Bull Case
Citi analysts now believe General Mills, Inc. GIS or Kellogg Company K is at the top of the list for Kraft Heinz, but Hershey may be an even better fit.
For starters, Hershey has a smaller market cap than General Mills or Kellogg. If Mondelez sees value there, Kraft Heinz likely does too.
In the past, the Hershey Trust, which controls 81 percent of the company’s voting shares, has shot down a number of offers from Mondelez and others. However, Warren Buffett’s ownership of Kraft Heinz could go a long way in easing the Trust’s fears about a buyout. The Hershey Trust would know the company is in good hands under Buffett’s leadership.
Bear Case
However, Buffett’s partner in the Kraft Heinz merger, 3G, is known as a stickler for cost-cutting, which may concern the Hershey Trust. In the past, the Trust has been adamant about the company’s main operations remaining in Hershey, PA. The Trust could also oppose any talks of workforce reductions as well.
After Wednesday's close, Hershey named Michele Buck CEO effective March 1, 2017, which could also throw water on any takeover talk.
There may significant obstacles to overcome in a Kraft Heinz-Hershey merger. However, the world’s richest investor could step in and make the Hershey Trust and offer that's too good to refuse.
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Dec 22, 2016 | CNBC
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Rough Transcript: hershey we're watching that one as well naming COO Michelle Buck as new president and ceo. She'll take over in March, Buck has overseen Hershey's expansion beyond candy into other snacks. Hershey rejected a $23 billion takeover offer from Mondelez in August.
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Dec 22, 2016 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25444254?token=8bf8521b-b1cc-48f9-9503-301efa47fd64
Rough Transcript: this one a little more anticipated. seema moddy has the details. >> michelle buck has been appointed president and ceo of the hershey company, effective March 1 2017. buck is currently the company's executive vice president and chief operating officer. she will succeed john billbray, who previously announced his intention to retire. this comes at a time when hershey is going through what some call a challenging time, many board changes plus that mondelez deal not going through, but again Michelle Buck appointed president and CEO of the hershey company
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Dec 22, 2016 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25444274?token=8bf8521b-b1cc-48f9-9503-301efa47fd64
Rough Transcript: and hershey naming COO michelle buck as president and ceo. She'll takeover in march. Buck oversaw expansion from candy into other snacks hershey rejected a $23 billion takeover from Mondelez in august, this move was widely expected as she was the number two and has been with the company for more than 10 years.
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Dec 22, 2016 | WHP-CBS (Harrisburg, PA)
View Clip Here: http://app.criticalmention.com/app/#clip/view/25444203?token=8bf8521b-b1cc-48f9-9503-301efa47fd64
Rough Transcript: New President COO, the candy giant named Michelle Buck to replace John Bilbrey. The current CEO is retiring from his executive role, but will stay on as chairman of the board. the company said that Buck, who now serves as executive vice president and COO, takes her new post on March 1.
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Dec 22, 2016 | WHTM-ABC (Harrisburg, PA)
View Clip Here: http://app.criticalmention.com/app/#clip/view/25444224?token=8bf8521b-b1cc-48f9-9503-301efa47fd64
Rough Transcript: the hershey company will soon have a new ceo. chief operating officer Michele Buck will take over for John Bilbrey in March. he stepped down after a failed takeover bid in the summer. before joining the hershey company 11 years ago...buck worked for kraft.
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10 things you need to know before the opening bell
Dec 22, 2016 | Business Insider
Relevant Portion Included: Hershey has a new CEO. Michele Buck has been named president and CEO, effective March 1, 2017. Currently, Buck is the company's executive vice president and COO.
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Early movers: CAG, RAD, NKE, HSY, MU, APC & more
Dec 22, 2016 | CNBC
By Peter Schacknow
Relevant Portion Included: Hershey — The chocolate maker naming chief operating officer Michele Buck as its new CEO. Current Chief Executive J.P. Bilbrey had said in October that he would be stepping down, but he will remain on the job until March and will remain as nonexecutive chairman.
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