SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): MARCH 12,2001
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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 March 12, 2001, Hershey Foods Corporation (the "Corporation")
announced that Richard H. Lenny was named president and chief executive officer
of the Corporation effective March 12, 2001. It was also announced that Kenneth
L. Wolfe, chairman and chief executive officer, would remain chairman of the
Board of Directors during a transitional period not to exceed one year, at which
time Mr. Lenny will become chairman. The March 12, 2001 press release,
announcing these changes, is incorporated herein by reference, and a copy is
furnished herewith as Exhibit 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: March 12, 2001
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
EXHIBIT NO. DESCRIPTION
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99 Press release, dated March 12, 2001, announcing Richard H. Lenny's
election as president and chief executive officer of Hershey Foods
Corporation and Kenneth L. Wolfe's continued service as chairman of
the Board of Directors.
Page 3 of 3 Pages
Exhibit Index - Page 3
EXHIBIT 99
[LOGO OF HERSHEY FOODS APPEARS HERE] HERSHEY FOOD NEWS
HERSHEY FOODS CORPORATION
100 CRYSTAL A DRIVE
HERSHEY, PA 17033
E-Mail: pr@hersheys.com
http: //www.hersheys.com
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FOR IMMEDIATE RELEASE CONTACT: John C. Long
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March 12, 2001 (717) 534-7631
HERSHEY FOODS NAMES
RICHARD H. LENNY PRESIDENT AND CEO
HERSHEY, PA. - Hershey Foods Corporation (NYSE:HSY) today named Richard
H. Lenny president and chief executive officer of the global confectionery
company, said Kenneth L. Wolfe, Hershey's chairman and chief executive officer
since 1994. Lenny most recently has served as head of the Nabisco Biscuit and
Snack business at Kraft Foods. Wolfe said he would remain chairman during a
transitional period not to exceed one year, at which time Lenny will add the
chairman position to his title.
The announcement is the culmination of a planned succession process and
a search for a new CEO that began in 2000 as Wolfe, 62, approached his desired
retirement age.
Lenny, 49, most recently was group vice president of Kraft Foods and
president, Nabisco Biscuit and Snacks, one of the largest operating units of
Kraft Foods, with annual revenues of approximately $6 billion. The Nabisco
Biscuit and Snack business includes such brands as OREO, CHIPS AHOY!, RITZ,
PLANTERS and LIFE SAVERS. Prior to the acquisition of Nabisco late last year,
Lenny had been president of Nabisco Biscuit Company. He earlier had served as
president of Pillsbury North America at The Pillsbury Company. Lenny spent the
first 18 years of his career in various brand and sales management positions at
Kraft Foods.
Wolfe said, "Our goal in searching for my successor has been to find an
individual with the right combination of food industry experience and proven
leadership ability to guide Hershey Foods in this new century. We were very
fortunate to recruit
Rick Lenny. He is an accomplished executive with a 24-year career in packaged
goods who has a strong track record of building brands and people. His enormous
record of success will be a tremendous asset to Hershey Foods. I am very
confident that our shareholders and employees can look to a bright future as
Rick assumes the leadership of our corporation."
Lenny said, "It's a privilege to lead this great American icon.
Hershey's advantaged position within the very attractive snack market has been
built on unsurpassed product quality, powerful brand equities, and complementary
acquisitions. In addition, the company's historic relationship with the Milton
Hershey School provides significant benefit to others."
Robert H. Campbell, chairman of the Board of Directors' CEO Search
Committee, added, "The directors of this company are very pleased that Rick
Lenny has agreed to join us. This brings to a successful conclusion our work to
find a successor for Ken Wolfe upon his intended retirement. Ken has done an
outstanding job of leading this company over the past seven years, and we are
confident that Rick will do an equally fine job in the years ahead."
Wolfe joined Hershey Foods in 1967 and was named vice president,
finance and chief financial officer of the corporation in 1981, and senior vice
president, finance and chief financial officer and a member of the board of
directors in 1984. He was elected president and chief operating officer in 1985
and chairman and chief executive officer in 1994.
The search was conducted by Spencer Stuart, the global executive
recruiting firm.
ABOUT HERSHEY FOODS CORPORATION
Hershey Foods Corporation is the leading North American manufacturer of
quality chocolate and non-chocolate confectionery and chocolate-related grocery
products, and has a variety of international operations. Among Hershey's most
popular products are: REESE'S peanut butter cups, HERSHEY'S milk chocolate and
milk chocolate with almond bars, HERSHEY'S KISSES chocolates, KIT KAT wafer
bars, TWIZZLERS candy, HERSHEY'S cocoa, and HERSHEY'S syrup.
ABOUT THE MILTON HERSHEY SCHOOL
The Milton Hershey School, located in Hershey, Pa., is a non-profit
school for the full-time care, education and nurturing of disadvantaged
children. It is the sole beneficiary of the trust established by Milton S. and
Catherine S. Hershey in 1909. The school currently has 1,160 students, with
plans to expand enrollment to 1,500. The Milton Hershey School Trust has 77% of
the voting power of Hershey Foods' common stock and has held a controlling
interest in the corporation since 1918.
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