Hershey / PA. (thc) The Hershey Company announced that John P. Bilbrey has informed the company that he will retire as chairman of its board of directors. He will not stand for re-election at the company’s 2018 Annual Meeting of Stockholders scheduled for May 2, 2018.
Bilbrey, age 61, previously served as President and Chief Executive Officer and was elected to the Hershey Board of Directors in 2011. Bilbrey will continue to serve as chairman of the board for the remainder of his term.
Charles A. (Chuck) Davis, the company’s lead independent director, age 69, will assume the role of chairman following the stockholders meeting in May.
«As a 38-year veteran within consumer-packaged goods, my greatest honor has been to lead and then support The Hershey Company management team and board as its chairman», Bilbrey said. «With the seamless CEO transition last year to Michele Buck and with Chuck Davis as chairman of the board this spring, I know this special company is on the right path as it transforms into an innovative snacking powerhouse».
«On behalf of the Board of Directors and the company, I want to express our sincere appreciation to J.P. for his passion, leadership, and dedication to The Hershey Company», said Davis. «J.P. has been instrumental in the growth of the company over the course of the last 15 years. We look forward to working with Michele as she leads the company through its next phase of growth».