Hershey Co. on Thursday said it elevated the head of its North American business, Michele Buck, to the role of chief operating officer, adding the company’s operations in Central and South America to her purview.
Ms. Buck, previously Hershey’s president of North America, led the U.S. and Canadian businesses, which account for more than 85% of the company’s top line. Ms. Buck, 54 years old, joined Hershey in 2005 after holding several positions at Kraft/Nabisco and the Frito-Lay division of PepsiCo Inc. (PEP).
In the first quarter, sales in North America fell 4.3% to $1.63 billion.
Hershey shares have risen 4.2% so far this year and were unchanged in premarket trading from $93 at Wednesday’s close.
By Joshua Jamerson
Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.
Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.
The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.