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UNITED
STATES
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SECURITIES
AND EXCHANGE COMMISSION
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Washington,
D.C. 20549
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______________________________
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FORM
8-K
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CURRENT
REPORT
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Pursuant
to Section 13 or 15(d) of the
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Securities
Exchange Act of 1934
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November
29,
2007
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Date
of Report (Date of earliest event
reported)
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The
Hershey
Company
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(Exact
name of registrant as specified in its
charter)
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Delaware
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(State
or other jurisdiction of
incorporation)
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1-183
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23-0691590
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(Commission
File Number)
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(IRS
Employer Identification No.)
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100
Crystal A Drive, Hershey,
Pennsylvania 17033
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(Address
of Principal Executive Offices) (Zip
Code)
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Registrant's
telephone number, including area code: (717)
534-4200
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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:
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[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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INFORMATION
TO BE INCLUDED IN REPORT
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Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment
of
Certain Officers; Compensatory Arrangements of Certain
Officers
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On
November 30, 2007, The Hershey Company (the “Company”) announced that Thomas K.
Hernquist, Senior Vice President, Global Chief Growth Officer, has resigned
from
the Company. Mr. Hernquist’s tenure as an elected officer of the
Company ended on December 4, 2007, and his last day of active employment will
be
December 31, 2007.
In
connection with his resignation, Mr. Hernquist entered into a Confidential
Agreement and General Release (the “Agreement”) pursuant to which he will
receive benefits under the Company’s Executive Benefits Protection Plan (Group
3A) (the “Group 3A Plan”) and provide, through December 31, 2008, certain
consultation and transition assistance if and as reasonably requested by the
Company. The Agreement also contains covenants regarding
confidentiality and non-competition.
The
Group
3A Plan was last filed with the Securities and Exchange Commission (“SEC”) on
January 3, 2007, as Exhibit 10.1 to the Company’s Current Report on Form
8-K. Details of Mr. Hernquist’s participation under the Group 3A Plan
are contained in the Company’s proxy statement for the 2007 annual meeting of
stockholders, filed with the SEC on March 16, 2007, except that Mr. Hernquist
will receive payment of his base salary component in a lump-sum upon separation
from service as opposed to payment over a period of two years as described
in
the proxy statement. This change is one of several minor amendments
to the Group 3A Plan adopted by the Company’s Board of Directors in October 2007
in response to the adoption of final regulations under Section 409A of the
Internal Revenue Code.
A
copy of
the Company’s press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
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Item
9.01
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Financial
Statements and Exhibits
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(d)
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Exhibits
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99.1
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The
Hershey Company Press Release dated November 30,
2007
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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: December
5, 2007
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THE
HERSHEY COMPANY
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By:
/s/ Burton H.
Snyder
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Burton
H. Snyder,
Senior
Vice President,
General
Counsel and Secretary
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EXHIBIT
INDEX
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Exhibit
No.
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Description
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99.1
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The
Hershey Company Press Release dated November 30, 2007
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Exhibit
99.1
Thomas
K. Hernquist, Senior Vice President, Global Chief Growth Officer,
Resigns
from The Hershey Company
HERSHEY,
Pa., Nov. 30, 2007 — The Hershey Company (NYSE: HSY) today announced
that Thomas K. Hernquist, Senior Vice President, Global Chief Growth Officer,
has resigned from the company, effective December 31, 2007. Hernquist plans
to
work on ventures that leverage strategic consumer insights and
innovation.
“I
want
to thank Tom for his numerous contributions to The Hershey Company,” said
Richard H. Lenny, Chairman and Chief Executive Officer, The Hershey Company.
“In
his early years here, Tom provided much-needed leadership to Hershey’s marketing
efforts by building new capabilities and strengthening our marketplace
performance. More recently, Tom has worked to develop our new product platforms
and accelerated the growth in Hershey’s premium and dark chocolate portfolios.
He’s brought a tremendous passion to continuing our heritage of making a
difference in the community and in leading industry efforts to drive positive
change in the world’s cocoa-growing regions.”
Hernquist
joined Hershey in 2003 as Senior Vice President, Chief Marketing Officer, where
he led the growth in Hershey’s core brands and overall confectionery portfolio
in North America. Prior to his current position, Hernquist was Senior Vice
President, President U.S. Confectionery.
He
joined
Hershey from Fortune Brands where he served as Senior Vice President, Global
Marketing, with responsibility for the company’s distilled spirits business. He
has served as Senior Vice President of Marketing for Nabisco’s Biscuit Division
and Vice President and General Manager, Entenmann’s, a unit of CPC
International. He began his marketing career at Frito-Lay, Inc. Hernquist is
also on the Executive Committee of the American Marketing Association and serves
on the board of directors of Bon Ton.
“Hershey
is a truly unique company with outstanding brands, deeply committed employees
and a rich heritage of giving to the community,” Hernquist said. “I’m grateful
to have worked with such outstanding people and brands. I’m also proud of the
many accomplishments that we have achieved, from driving strategic ventures
into
premium and dark chocolate, developing innovative platforms and creating the
Hershey Center for Health and Nutrition. I have been honored to have played
a leadership role in the company’s active commitment to social responsibility
across the globe and within our local communities. I want to thank the Hershey
Executive Team and the many talented and dedicated people I have worked with
at
this company and in the Hershey community.”
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.
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Media
Contact:
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Kirk
Saville
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(717)
534-7641
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