Hershey announced that Michael Del Pozzo, the president of its U.S. confections business, will be leaving the company on December 12th to take on a new leadership role at PepsiCo.
During his time at Hershey, Del Pozzo oversaw brands such as Kisses, Reese’s, and Jolly Rancher, bringing with him 23 years of experience from PepsiCo in leading growth and transformation.
Prior to his role at Hershey, Del Pozzo served as the president and general manager of Gatorade at PepsiCo, where he successfully transformed the sports drinks company into a portfolio of sports and fitness brands. He also led sales and commercial functions for PepsiCo’s Frito Lay North America unit.
Del Pozzo’s departure comes at a time when Mondelēz International has reportedly shown interest in acquiring Hershey, with analysts speculating that his exit may increase the likelihood of a merger between the two snacking giants.
Hershey has been facing challenges recently, including a cut in its net sales growth forecast and pressure from higher cocoa costs and competition from weight-loss drugs. Analysts believe that these difficulties may prompt the Hershey Trust to consider selling the business to Mondelēz.