The Hershey Company’s board of directors has appointed Michele Buck, currently the company’s Executive Vice President and Chief Operating Officer, as Hershey’s next President and Chief Executive Officer effective March 1, 2017. She will succeed John P. Bilbrey, who previously announced his intention to retire from the company. Bilbrey will continue as Non-Executive Chairman of Hershey’s Board of Directors following his retirement as President and CEO.
“Michele is a proven leader who, during 11 years at Hershey and more than 25 years as an executive in the consumer packaged goods industry, has a demonstrated track record of building brands consumers love while bringing out the best in employees amid a rapidly changing business environment,” said Bilbrey. “She has consistently displayed a keen sense for how to grow our iconic brands. The unanimous vote by the board is a testament to the confidence we have in Michele as the next leader of this great company,” he said.
“As the board contemplated the right strategic leader for the next great chapter in Hershey’s history, it quickly became apparent that Michele offered the right mix of outstanding vision and proven execution to continue taking our company forward,” said Pamela Arway, Chair of the Governance Committee of Hershey’s Board of Directors and chair of the board’s special committee overseeing the CEO succession process.
Since joining the company in 2005, Buck has spearheaded the development and execution of many successful growth initiatives and strategic shifts at the company, most notably Hershey’s substantial growth in its core confection portfolio as it moved from a supply- to demand-driven business model. She was the architect of the company’s strategy to expand into broader snacking categories and oversaw the acquisitions of KRAVE and barkThins brands. She is a proven people leader and a champion of the Hershey culture through her ability to inspire, develop and connect with employees and customers.
“Hershey is an incredibly special company with a rich 120-year history of bringing goodness to the world,” Buck said. “I am honored to be chosen as the next leader of this innovative and pioneering business. The opportunity ahead for Hershey is tremendous, and to take advantage of it will require a clear focus on meeting the evolving needs of consumers while moving quickly to stay ahead of the trends shaping our business,” she said.
“I look forward to working closely with our board and the entire Hershey team to further our vision for 2017 and beyond,” continued Buck. “I also would like to thank JP for his leadership, mentorship and friendship over the last several years. It is an honor to be succeeding him as CEO and I look forward to his continued guidance as chairman of our board.”
Zingerman’s Creamery has entered into a new partnership with World’s Best Cheeses. The specialty food distributor directly delivers some of the best cheeses, crackers, oils, chocolates and meats from around the world to gourmet retail markets, and now those offerings include Zingerman’s small-batch artisan cheeses made in Ann Arbor, Michigan. This will be the first time the Creamery has had major distribution on the East Coast.
“We’re honored to be represented on the East Coast by World’s Best Cheeses,” says Zingerman’s co-Founder Ari Weinzweig. “Their distribution network will allow us to get our cheeses to specialty shops, restaurants, caterers and cafes without having to have them incur shipping costs from the Midwest.”
Since 2001, Zingerman’s Creamery has specialized in soft-ripened cheeses, employing a combination of Old World techniques and creative innovation to draw out full, complex flavor. The cow and goat milk used is sourced from a select group of small, regional farmers to secure the highest quality product. The collaboration with World’s Best Cheeses, a leader in the specialty food industry that has been family owned and operated for over 30 years and currently has offices in New York, Massachusetts, and California, is a natural and welcomed fit for both companies.
“We have always admired and respected Zingerman’s business and philosophy, and these delicious cheeses have been on our radar for some time,” says Stephen Gellert, ACS-CCP, Vice President of Business Development for World’s Best Cheeses. “We are very excited to finally be working together!”
World’s Best Cheeses is currently distributing Zingerman’s Creamery Detroit Street Brick, Chestnut Little Napoleon, Manchester, Liptauer, and Aged Chelsea. Full descriptions of each cheese can be found in the Cheese section at www.zingermanscreamery.com.
Prairie Farms Dairy and Swiss Valley Farms have entered into a merger agreement. Both companies are farmer-owned dairy cooperatives and recognized leaders within the dairy industry. The combined entity will bring together two well-known brands and will expand sales opportunities for both cooperatives.
Under the terms of the agreement, Prairie Farms will merge the assets of Swiss Valley Farms into Prairie Farms Dairy, Inc. Assets include five manufacturing plants that produce cheese and whey powder located in: Luana, Iowa; Shullsburg and Mindoro in Wisconsin; Rochester and Faribault in Minnesota. Swiss Valley Farms CEO Chris Hoeger will continue to oversee the operation of the plants. The combined company will operate under the name Prairie Farms Dairy, Inc. The terms of the merger agreement must be approved by cooperative members from both companies.
“The merger with Swiss Valley was driven by our commitment to build value for our cooperative members and is consistent with our growth strategy. Swiss Valley’s contributions will allow us to diversify our product portfolio and expand into new markets,” said Ed Mullins, Executive Vice President and CEO of Prairie Farms.
Chris Hoeger, Swiss Valley’s CEO, stated, “We are very excited to be joining forces with Prairie Farms. This merger offers numerous benefits for our cooperative members and is an ideal opportunity to bring together two industry leaders. We will leverage the strengths of both companies to offer a broader range of products and to enhance and expand relationships with customers.”
As Prairie Farms and Swiss Valley collaborate on pre-merger integration activities, their employees and customers can expect a business-as-usual environment. If approved, the deal is expected to close mid-2017.