Hershey replaces eight board members
NEW YORK (Reuters) - Chocolate maker Hershey Co (HSY.N) said on Sunday it has replaced eight members of its board of directors, the latest management shake-up in the weeks since the surprise announcement of Chief Executive Richard Lenny's retirement.
Hershey, maker of Hershey Kisses and Reese's Pieces, said six independent directors resigned at the request of the Hershey Trust. Two directors elected separately by shareholders also quit.
The company added that Kenneth Wolfe would serve as nonexecutive chairman, effective January 1, 2008.
On October 1, Hershey said Chief Executive and Chairman Richard Lenny will retire at the end of the year. One day later, Chief Operating Officer David West was named as the next CEO.
(Reporting by Franklin Paul)
© Thomson Reuters 2009 All rights reserved
Citadel enters the fray
Kenneth Griffin's powerful hedge fund has waded into the case of Goldman Sachs' purloined computer code, suing three of its former employees for setting up Teza Technologies. Full Article | Full Coverage
