Monday, October 1, 2007
Hershey’s CEO to Retire
Richard H. Lenny, the CEO, President and Chair of The Hershey Company is calling it quits at the end of the year. He took his current position in 2001.
You can read the press release below, which is obviously geared towards investors and not consumers, because not once does it mention anything good that’s happened since Lenny took over ... a period which saw the addition of PGPR to Hershey’s chocolate, the swapping of real milk chocolate in the Fifth Avenue bar to subpar mockolate and of course their support for the Grocery Manufacturers Association proposal to lower the standards of identity for chocolate (a reversal from their earlier position logged in 2000). Oh, yeah, and the closing of the Smith Falls, ONT and Oakdale, CA along with many smaller factories totalling at least 1,500 people directly.
If I were in charge, I’d go private. If I were the Hershey Trust, I’d slowly buy the company back. They have (or at least it looks like they have) the capital to do it. Move away from all for the profit business and move to become and socially and ecologically responsible company both in the United States and abroad. Mars has a huge advantage over Hershey’s in that it is privately owned and can take bigger risks when the consumer confectionery market is in flux as it is now.
Hershey’s should get back to making quality confectionery products at affordable prices, pay people a decent wage and the Hershey Trust will be able to continue the Milton Hershey School without problems. After all, the Trust is there to help mold disadvantaged youth - give them the education and boost that they need. Are they really teaching them anything if they abandon the town, communities and ideals that Hershey built?
Meticulously photographed and documented reviews of candy from around the world. And the occasional other sweet adventures. Open your mouth, expand your mind.