CStore Decisions

  • Home
  • Today on CSD
  • Categories
    • CBD
    • Foodservice
    • Fuel & Gas
    • Health & Beauty
    • Independent Operators
    • Operations & Marketing
    • Technology
  • CStore Playbooks
    • CBD Playbook
    • Foodservice Playbook
    • Technology Playbook
    • Alcoholic Beverage Playbook
    • Tobacco Playbook
  • Products
    • Hot New Products Contest
    • Beverages & Cold Vault
    • Candy, Gum & Mints
    • Snacks
    • Tobacco
  • Resources
    • Digital Issues
    • Research & Downloads
    • Podcasts/How To Series
    • On Location
    • FAQ
    • 2022 Top 111 Chains
    • Leaders in Convenience
    • Rack Prices
    • Sponsored Content
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Events
    • 2021 Chain of the Year
    • Convenience Directions
    • NAG Convenience Conference
    • Young Executive Organization
  • Join
    • National Advisory Group
    • Safe Shop Assured
    • Young Executive Organization

Hershey Simplifies Structure and Launches Initiative to Maximize Strategic Objectives

By CSD Staff | June 19, 2015

Share

HersheyLogoFinal_2014_HIRESAnnounces changes to its leadership team.

The Hershey Co. is rolling out a new productivity initiative as part of its ongoing efforts to drive long-term growth and margin-enhancement.

The company has identified opportunities to simplify its structure and improve ways of working in order to unlock growth potential in its core confection and emerging snacks businesses. These efforts are intended to ensure Hershey’s ability to rapidly anticipate and respond to the changing demands of the global consumer.

“We have taken a fresh look at how our resources and people are deployed globally and are better aligning our structure to the company’s long-term strategies and goals,” said John Bilbrey, chairman, president and Chief CEO, The Hershey Co. “This initiative is designed to unlock greater value across the organization by empowering decision-making closer to our customers and consumers, enabling a more enterprise-wide approach to innovation, swiftly advancing our knowledge agenda, and ensuring we effectively allocate resources to future growth areas. Removing cost and complexity from our business will make us more flexible to quickly react to changing consumer and competitive marketplace trends. We are confident these changes will extend our position as a global confectionery leader and create a Hershey that is even more innovative, entrepreneurial and better positioned to continue to deliver sustainable, profitable growth in an ever-changing marketplace for the long-term benefit of all of our stakeholders.”

Global Leadership Team
As part of this initiative, Hershey also announced changes to its Global Leadership Team to better deliver the company’s strategy, support its core business, and position Hershey to capitalize on adjacent and international growth opportunities.

Effective immediately, changes to the Global Leadership Team include:

Patricia Little, senior vice president, chief financial officer, will now also be responsible for corporate development, mergers and acquisitions. M&A will continue to be an important driver of Hershey’s future success.

Steven Schiller, regional president, AEMEA, has been named president, China and Asia. This new position elevates the company’s focus on its No. 1 international growth priority, China.

The company has created a new Global Leadership Team role focused on growth and expansion in emerging international markets including India and those in Latin and South America, the Middle East, Europe and Africa. A candidate search including both internal and external individuals is in progress.

Productivity Initiative Impacts
The program is expected to generate pretax savings of $65 million to $75 million, primarily in 2016, of which a portion will be reinvested back into the company. Hershey anticipates that enabling further investment in brand-building and global capabilities should deliver future confectionery and snacks revenue and adjusted earnings per share-diluted growth that results in increased shareholder value.

The program is expected to result in the reduction of approximately 300 jobs by the end of 2015, with estimated pre-tax charges and costs of $100 million to $120 million, or $0.29 to $0.35 per share-diluted, the majority of which are cash and will be incurred in 2015. As part of the streamlining of the organization, the company will first offer a voluntary separation program and is committed to assisting all impacted employees during the transition. Manufacturing operations are not included in this effort as efficiencies were attained through previous productivity programs.

 

 

Related Articles Read More >

Pilot Flying J Launches $50,000 Fuel Giveaway
Gas Prices Continue to Rise
Love’s Opens New Georgia Location
Tobacco’s Ever-Evolving Legislative Landscape
Safe Shop Assured

CStore Decisions Newsletter

Sponsored Content

  • Create Some Positivity at the Pump: 3 Ways to Fuel Customer Experiences
  • How Minuteman Food Mart Ensures a Consistent Customer Experience Across 44 Stores
  • Three Challenges Disrupting C-Store Operations and How to Overcome Them
  • Why Wait? Converting to E15 is easy.
  • It’s time you profited from your checkout line

Get the Magazine

Subscribe Now!
Subscribe Now!

Manage Current Subscription
CStore Decisions
  • New CSD Print Subscription
  • Manage current print subscription
  • CBD Retail Trends
  • CStore Products
  • NAG Convenience Conference
  • Convenience Directions
  • Rack Prices
  • Subscribe to CSD’s E-Newsletter
  • About CStore Decisions
  • Advertise

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search CStore Decisions

  • Home
  • Today on CSD
  • Categories
    • CBD
    • Foodservice
    • Fuel & Gas
    • Health & Beauty
    • Independent Operators
    • Operations & Marketing
    • Technology
  • CStore Playbooks
    • CBD Playbook
    • Foodservice Playbook
    • Technology Playbook
    • Alcoholic Beverage Playbook
    • Tobacco Playbook
  • Products
    • Hot New Products Contest
    • Beverages & Cold Vault
    • Candy, Gum & Mints
    • Snacks
    • Tobacco
  • Resources
    • Digital Issues
    • Research & Downloads
    • Podcasts/How To Series
    • On Location
    • FAQ
    • 2022 Top 111 Chains
    • Leaders in Convenience
    • Rack Prices
    • Sponsored Content
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Events
    • 2021 Chain of the Year
    • Convenience Directions
    • NAG Convenience Conference
    • Young Executive Organization
  • Join
    • National Advisory Group
    • Safe Shop Assured
    • Young Executive Organization