HERSHEY, Pa. -- John P. Bilbrey, chairman, president and CEO of The Hershey Co., plans to retire July 1, 2017, to spend more time with family, the company announced. Bilbrey will continue as nonexecutive 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 Co. has been the highlight of my career,” Bilbrey said. “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.”
As part of the succession planning process, The Hershey Co., Hershey, Pa., has appointed a special committee to direct the search for a new CEO. Pamela Arway, chair of the governance committee, will lead the committee. It will review internal and external candidates with assistance from Egon Zehnder, a leading executive search firm.
“I am confident that the board will identify an outstanding candidate to lead The Hershey Co. through this next phase of growth,” Bilbrey said. “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.”
During his tenure at Hershey, Bilbrey has led the North America business and the international business and was chief operating officer. He joined Hershey in 2003, following senior leadership positions at Mission Foods, Danone Waters of North America and Procter & Gamble.
“J.P. has been a great leader for The Hershey Co. 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.”
Hershey, Pa.-based The Hershey Co. is known for its chocolate, sweets, mints and other snacks. The company markets, sells and distributes its products under more than 80 brand names in approximately 70 countries worldwide.
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