Key Highlights:
- Michael Del Pozzo has been appointed as the new president of U.S. Confection at Hershey, overseeing popular brands like Kisses, Reese’s, and Jolly Rancher.
- Del Pozzo brings extensive experience from his 23-year tenure at PepsiCo, where he successfully led growth and transformation initiatives. He most recently served as president and general manager of Gatorade, overseeing a $10 billion business.
- Del Pozzo takes over from Charles Raup, who is retiring after 15 years at Hershey to explore new executive opportunities.
Insightful Analysis:
While Hershey has been expanding its salty snacks division, confections remain a core revenue driver for the company. In 2023, Hershey generated a significant portion of its $11.2 billion in net sales from confections in North America. Brands like Reese’s, Kisses, Twizzlers, and Heath play a crucial role in Hershey’s success.
CEO Michele Buck expressed confidence in Del Pozzo’s ability to lead the U.S. Confection business towards continued growth. His expertise in consumer insights and strategic change will be instrumental in advancing Hershey’s vision as a Leading Snacking Powerhouse.
Del Pozzo faces the challenge of driving innovation in Hershey’s sweets portfolio amidst volatile cocoa prices and consumer spending cutbacks. The company recently reported a decline in organic volume and adjusted its net sales growth forecast for the year.