|
UNITED
STATES
|
|
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
|
|
October
1,
2007
|
|
Date
of Report (Date of earliest event
reported)
|
|
The
Hershey
Company
|
|
(Exact
name of registrant as specified in its
charter)
|
|
Delaware
|
|
(State
or other jurisdiction of
incorporation)
|
|
1-183
|
23-0691590
|
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
100
Crystal A Drive, Hershey,
Pennsylvania 17033
|
|
(Address
of Principal Executive Offices) (Zip
Code)
|
|
Registrant's
telephone number, including area code: (717)
534-4200
|
|
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under
any
of the following provisions:
|
|
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
INFORMATION
TO BE INCLUDED IN REPORT
|
Item
5.02
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment
of
Certain Officers; Compensatory Arrangements of Certain
Officers
|
On
October 1, 2007, The Hershey Company
(“Company”) announced that Richard H. Lenny, Chairman, President and Chief
Executive Officer, will retire from the Company on December 31,
2007. A copy of the Company’s press release announcing Mr. Lenny’s
retirement is attached hereto as Exhibit 99.1 and incorporated herein by
reference.
|
Item
9.01
|
Financial
Statements and Exhibits
|
|
(d)
|
Exhibits
|
|
|
99.1
|
Press
Release dated October 1, 2007
|
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.
Date: October
4, 2007
|
THE
HERSHEY COMPANY
|
|
|
By:
/s/ Bert
Alfonso
|
|
|
Humberto
(Bert) P. Alfonso
Senior
Vice President,
Chief
Financial Officer
|
EXHIBIT
INDEX
|
Exhibit
No.
|
Description
|
|
99.1
|
The
Hershey Company Press Release dated October 1,
2007
|
Exhibit
99.1
The
Hershey Company Announces that Richard H. Lenny, Chairman, President and Chief
Executive
Officer, to Retire at End of 2007
HERSHEY,
Pa., October 1, 2007 — Richard H. Lenny, Chairman, President and Chief
Executive Officer of The Hershey Company (NYSE:HSY), has informed the Board
of
Directors that he intends to retire at the end of 2007. First elected as
President and Chief Executive Officer of the Company in March 2001, Mr. Lenny
was elected Chairman of the Board in December 2001.
In
commenting on the announced retirement, Robert H. Campbell, Chair of the
Company’s Compensation and Executive Organization Committee, said: “On behalf of
the Hershey board of directors, stockholders, and employees, we thank Rick
for
his leadership over this past six and one-half years. During this time, the
Company developed and has been executing its value-enhancing strategy with
the
over-arching goal of building stockholder value over the long-term. Under Rick’s
leadership, through a combination of core brand growth, disciplined global
expansion, and improved margins, Hershey’s total stockholder return was higher
than that of the S&P food group and significantly outperformed the S&P
500. In addition, Rick has assembled an excellent leadership team that we’re
confident will realize Hershey’s growth potential.
“The
board has begun the succession process and looks forward to making an
announcement in the near future. Once announced, there will be an orderly
transition from Rick to his successor. We wish Rick all the best as he concludes
his role with Hershey,” Campbell concluded.
“My
years
at Hershey have been extremely rewarding as I’ve been honored to lead a
dedicated and engaged organization. During this time, we undertook major
challenges, all focused on building a strong foundation for the benefit of
all
our stakeholders. I’m extremely proud of my Hershey colleagues and all that they
have accomplished. I also want to thank our board of directors for its keen
insights, support, and guidance over the past several years,” said Lenny. “The
long-term prospects for our category and particularly for our company remain
promising. I look forward to working closely with my successor so
that the transition to new leadership will be effective and
seamless.”
About
The Hershey Company
The
Hershey Company (NYSE: HSY) is the largest North American manufacturer of
quality chocolate and sugar confectionery products. With revenues of nearly
$5
billion and more than 13,000 employees worldwide, The Hershey Company markets
such iconic brands as Hershey’s, Reese’s, Hershey’s Kisses, and Ice
Breakers. Hershey is the leader in the fast-growing dark and premium
chocolate segment, with such brands as Hershey’s Special Dark,
Hershey’s Extra Dark and Cacao Reserve by Hershey’s. Hershey’s
Ice Breakers franchise delivers refreshment across
a variety of mint
and gum flavors and formats. In addition, Hershey leverages its iconic brands,
marketplace scale and confectionery and nut expertise to develop and deliver
substantial snacks, including Hershey’s and Reese’s
single-serve cookies and brownies, and value-added snack nuts, including
Hershey’s Milk Chocolate Covered Almonds and Hershey’s Special Dark
Chocolate Covered Almonds. Hershey also offers a range
of products to
address the health and well-being needs of today’s consumer. Hershey’s
and Reese’s Snacksters offer consumers great-tasting snacks in
portion-controlled servings, while Hershey’s dark chocolate offerings provide
the benefits of flavanol antioxidants. In addition, Artisan Confections Company,
a wholly owned subsidiary of The Hershey Company, markets such premium chocolate
offerings as Scharffen Berger, known for its high-cacao dark chocolate
products, Joseph Schmidt, recognized for its fine, handcrafted
chocolate gifts, and Dagoba, known for its high-quality natural and
organic chocolate bars. Visit us at
www.hersheynewsroom.com.
Safe
Harbor Statement
This
release contains statements which are forward-looking. These statements are
made
based upon current expectations which are subject to risk and uncertainty.
Actual results may differ materially from those contained in the forward-looking
statements. Factors which could cause results to differ materially include,
but
are not limited to: our ability to implement and generate expected ongoing
annual savings from the initiatives to transform our supply chain and advance
our value-enhancing strategy; changes in raw material and other costs and
selling price increases; our ability to execute our supply chain transformation
within the anticipated timeframe in accordance with our cost estimates; the
impact of future developments related to the product recall and temporary plant
closure in Canada in the fourth quarter of 2006, including our ability to
recover costs we incurred for the recall and plant closure from responsible
third-parties; pension cost factors, such as actuarial assumptions, market
performance and employee retirement decisions; changes in our stock price,
and
resulting impacts on our expenses for incentive compensation, stock options
and
certain employee benefits; market demand for our new and existing products;
changes in our business environment, including actions of competitors and
changes in consumer preferences; changes in governmental laws and regulations,
including taxes; risks and uncertainties related to our international
operations; and such other matters as discussed in our Annual Report on Form
10-K for 2006.
#
#
#
|
Media
Contact:
|
Kirk
Saville
|
717-534-7641
|