Hershey / PA. (thc) The Hershey Company announced the election of eight new Directors to its Board, effective immediately, and the appointment of Kenneth L. Wolfe as non- executive Chairman, effective January 01, 2008, upon the previously announced retirement of current Chairman and CEO Richard H. Lenny.
The new independent Directors were elected by the Hershey Trust, the Company´s controlling shareholder. In addition to Wolfe, they are Charles A. Davis, Edward J. Kelly, III, Arnold G. Langbo, James E. Nevels, Thomas J. Ridge, Charles B. Strauss and LeRoy S. Zimmerman.
Six independent Directors resigned from the Board at the request of the Hershey Trust. They are Jon A. Boscia, Robert H. Campbell, Gary P. Coughlan, Harriet Edelman, Mackey J. McDonald and Marie J. Toulantis. In addition, Bonnie G. Hill and Alfred F. Kelly, Jr., the two directors elected separately by the Company´s Common Stock shareholders, also resigned. The Hershey Trust did not request their resignations. Their successors will be elected by Common Stock shareholders at the Company´s annual meeting next year.
Continuing as directors of the Company are: Lenny, through December 31, 2007; David J. West, who will become CEO on December 1, 2007; and Robert F. Cavanaugh, a member of the Hershey Trust Board (press release).