01—Abstract
Summary
Summary of the 8-K filed January 13, 2025. Cited figures are marked; the original filing is the authoritative source.
The Hershey Company (NYSE: HSY) disclosed on January 13, 2025 that Kristen J.
Riggs, President, Salty Snacks, informed the Company on January 10, 2025 of her intention to depart to pursue other opportunities. She will step down from that role on February 3, 2025, and will assist with the transition of her responsibilities until her departure. The same day, the Company issued a press release (Exhibit 99.1) announcing two leadership appointments, both effective February 3, 2025.
Andrew Archambault, who joins from Keurig Dr Pepper, was named President, U.S. Confection, overseeing brands including Hershey's, Reese's and Jolly Rancher. Veronica Villasenor, a Hershey veteran of 22 years who previously served as Vice President of Salty Snacks, was named President, Salty Snacks. Both will be part of the Executive Committee.
The press release quotes CEO Michele Buck describing the moves as leaders to "advance our leading snacking powerhouse vision" and deliver the company's next phase of growth. The Item 7.01 disclosure is furnished rather than filed, so it is not subject to Section 18 liability. The filing contains no financial results.
02—Key points
Key Highlights
- Kristen J. Riggs, President, Salty Snacks, will step down on February 3, 2025 after informing the Company on January 10, 2025 of her intention to depart.
- Veronica Villasenor, a 22-year Hershey veteran and former Vice President of Salty Snacks, will become President, Salty Snacks, effective February 3, 2025.
- Andrew Archambault, who joins from Keurig Dr Pepper, will become President, U.S. Confection, effective February 3, 2025.
- Archambault will oversee a portfolio including Hershey's, Reese's and Jolly Rancher; he previously led U.S. Refreshment Beverages at Keurig Dr Pepper.
- Both new presidents will be part of Hershey's Executive Committee.
- Riggs will assist with the transition of her responsibilities until her departure.
- The filing reports no financial results; the leadership changes are the sole substantive disclosure.
03—Questions
Frequently Asked Questions
Who is leaving Hershey and when?
Kristen J. Riggs, President, Salty Snacks, will step down from that role on February 3, 2025, after informing the Company on January 10, 2025 that she intends to pursue other opportunities. She will help with the transition of her duties until she departs.
Who is replacing Riggs and who is the other new appointee?
Veronica Villasenor, a Hershey veteran of 22 years who previously served as Vice President of Salty Snacks, will succeed Riggs as President, Salty Snacks. Andrew Archambault will become President, U.S. Confection. Both appointments are effective February 3, 2025.
What is Andrew Archambault's background?
Archambault joins Hershey from Keurig Dr Pepper, where he most recently served as President, U.S. Refreshment Beverages. He previously was Chief Customer Officer at KDP and held roles at The Nature's Bounty, Co., Bacardi USA and The Coca-Cola Company, according to the press release.
Do these changes affect Hershey's financial results?
The filing does not report any financial impact or results. It describes only management changes and the executives' roles.
Is the Regulation FD disclosure considered filed under the Exchange Act?
No. The filing states that the information in Item 7.01, including Exhibit 99.1, is not deemed filed for purposes of Section 18 of the Exchange Act and is not incorporated by reference into other filings unless expressly stated.
04—Continue