\ Exhibit 99
[LOGO OF HERHSEY FOODS APPEARS HERE] HERSHEY FOODS NEWS
Hershey Foods Corporation
100 Cyrstal A Drive
Hershey, PA 17033
E-Mail: pr@hersheys.com
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http://www.hersheys.com
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FOR IMMEDIATE RELEASE CONTACT:
December 11, 2000 John C. Long
717-534-7631
FINANCIAL CONTACT:
James A. Edris
717-534-7556
William F. Christ Named Executive Vice President and Chief Operating
Officer, Hershey Foods Corporation
Kenneth L. Wolfe, Chairman and Chief Executive Officer, Hershey Foods
Corporation, today announced that William F. Christ has been named Executive
Vice President and Chief Operating Officer of the Corporation. In a related
announcement, Frank Cerminara has been named to succeed Christ as Vice
President, Chief Financial Officer and Treasurer, Hershey Foods Corporation.
Christ replaces Michael F. Pasquale, who has resigned. Pasquale's resignation is
unrelated to the financial performance of the Corporation, which continues to
point to a good finish for the year.
In making this announcement, Wolfe said, "I am very pleased to announce Bill
Christ's appointment as Executive Vice President and Chief Operating Officer.
Bill brings a wide range of experience as well as the respect of the financial
community and our customers to this position. With our performance in 2000
continuing to progress well and our future looking bright, Bill brings solid
leadership skills as well as broad experience and in-depth knowledge of our
business to the task of leading our company forward."
Christ, a 31-year veteran of Hershey Foods, most recently served as Senior Vice
President, Chief Financial Officer and Treasurer of the Corporation. He joined
Hershey Foods in 1969 and worked in a succession of finance positions, including
Vice President, Finance and Administration, in the Corporation's Hershey
Chocolate U.S.A. and Hershey International divisions. Christ was named
President, Hershey International, in 1988 and became Senior Vice President and
Chief Financial Officer, Hershey Foods Corporation, in 1994, adding the position
of Corporate Treasurer in 1997.
- more -
Christ, a native of Johnstown, Pa., received a B.S. in Business Administration
from Virginia Polytechnic Institute and State University and an M.A. in Business
from the Pennsylvania State University. He also attended the International
Management Development Institute, Lausanne, Switzerland, and the International
Management Institute, Geneva, Switzerland. He served over four years in the
United States Air Force, achieving the rank of Captain. In 1991, Christ was
named an Alumni Fellow of the Pennsylvania State University. He also is a member
of the Advisory Board of F. M. Global Insurance Company. Christ and his wife,
Carol, reside in Lebanon, Pa.
# # #
Exhibit 99
[LOGO OF HERHSEY FOODS APPEARS HERE] HERSHEY FOODS NEWS
Hershey Foods Corporation
100 Cyrstal A Drive
Hershey, PA 17033
E-Mail: pr@hersheys.com
---------------
http://www.hersheys.com
===============================================================
FOR IMMEDIATE RELEASE CONTACT:
December 11, 2000 John C. Long
717-534-7631
FINANCIAL CONTACT:
James A. Edris
717-534-7556
Frank Cerminara Named Vice President, Chief Financial Officer and
Treasurer, Hershey Foods Corporation
Kenneth L. Wolfe, Chairman and Chief Executive Officer, Hershey Foods
Corporation, today announced that Frank Cerminara has been named Vice President,
Chief Financial Officer and Treasurer of the corporation. Cerminara succeeds
William F. Christ who, in a related announcement, has been named Executive Vice
President and Chief Operating Officer, Hershey Foods Corporation.
In making the announcement, Wolfe said, "Frank Cerminara's appointment as Vice
President, Chief Financial Officer and Treasurer is good news for Hershey. Frank
has a solid grounding in finance as well as an extensive background in areas of
critical importance to our company. He also led the company's recovery efforts
in the order fulfillment area following last year's distribution difficulties.
Finally, Frank is intimately familiar with our new enterprise-wide information
system and is uniquely qualified to ensure that we benefit from the powerful
analytical capabilities of this system."
Cerminara, a Vice President of the Corporation, has been Process Owner - Order
Fulfillment, since early 2000, with responsibility for activities including
inventory planning and deployment, customer order management, and transportation
planning. Prior to this, he served as Vice President, Procurement, with
responsibility for commodities, packaging and facilities purchasing, a position
he had held since 1994. Cerminara joined Hershey Foods in 1972 as a Budget
Analyst and held a variety of positions in finance and marketing prior to
joining the Corporate Commodities Department in 1981. He was named Director,
Commodities in 1985 and became Vice President, Corporate Development and
Commodities in 1988.
- more -
Cerminara is a 1970 graduate of West Virginia University with a B.S. in
Industrial Engineering. He received an MBA in Corporate Finance from the Wharton
School of the University of Pennsylvania and completed the Stanford University
Executive Management Program. He is a member of the Coffee, Sugar and Cocoa
Exchange and has served on its Board of Managers. He also is a former Board
member of the Cocoa Merchants Association. Cerminara and his wife, Susan, live
in Hershey, Pa.
# # #
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 11, 2000
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HERSHEY FOODS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-183 23-0691590
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
100 Crystal A Drive, Hershey, Pennsylvania 17033
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (717) 534-6799
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Page 1 of 3 Pages
Exhibit Index - Page 3
INFORMATION TO BE INCLUDED IN REPORT
Item 9 Regulation FD Disclosure
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On December 11, 2000, Hershey Foods Corporation (the "Corporation")
announced that Michael F. Pasquale, Executive Vice President and Chief Operating
Officer and a member of the Board of Directors, resigned. The Corporation also
announced that William F. Christ, Senior Vice President, Chief Financial Officer
and Treasurer, would become Executive Vice President and Chief Operating
Officer, and that Frank Cerminara would become Vice President, Chief Financial
Officer and Treasurer. The press releases dated December 11, 2000, announcing
these changes, are incorporated herein by reference, and copies are furnished
herewith as Exhibits 99.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: December 11, 2000
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HERSHEY FOODS CORPORATION
By /s/ Frank Cerminara
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Frank Cerminara
Vice President, Chief Financial
Officer and Treasurer
Page 2 of 3 Pages
Exhibit Index - Page 3
Exhibit Index
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Exhibit No. Description
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99 Press release dated December 11, 2000 announcing resignation
of Michael F. Pasquale and appointment of William F. Christ
99 Press release dated December 11, 2000 announcing appointment of
Frank Cerminara
Page 3 of 3 Pages
Exhibit Index - Page 3