Confectionery group the Hershey Company has announced a new organization structure which it says will better leverage its scale in the US and accelerate its growth in key global markets.
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Changes include the formation of a US Commercial Group, with responsibility for continuing to build Hershey’s confectionery leadership while capitalizing on its scale in the US 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. “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 organizational structure we announced today will allow Hershey to capture a larger share of the US snack market while broadening its international presence,” he said. “Unifying our US 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 US Commercial Group. Michele Buck, formerly senior vice president, president US Snacks, has been appointed senior vice president, chief marketing officer, US Commercial Group, reporting to Baldwin.
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By GlobalDataJohn P. Bilbrey, formerly senior vice president, president Hershey International, will continue in his present role and has been appointed senior vice president, president International Commercial Group.
Thomas Hernquist, formerly senior vice president, president US 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 positionings, portfolio strategy, integrated business intelligence, and such major corporate initiatives as health and 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 US 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.
