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Dive Briefing:
- Hershey has named Michael Del Pozzo president of US Confectionery, effective Sept. 16. He will oversee brands including Kisses, Reese's and Jolly Rancher.
- Hershey said Del Pozo “brings a wealth of experience leading growth and change” from his 23 years at PepsiCo. As president and general manager of Gatorade, Del Pozo most recently oversaw the $10 billion business’ transformation into a sports beverage company with a portfolio of sports and fitness brands. He also previously led sales and commercial functions for PepsiCo’s Frito Lay North America business.
- Del Pozo will succeed Charles Raup, who is retiring after 15 years at Hershey to “pursue other executive opportunities.”
Dive Insight:
While Hershey is expanding its salty snack business, the Pennsylvania-based company still generates most of its revenue from snacks. In 2023, Hershey generated $9 billion of its $11.2 billion in net sales in North America from snacks. With brands like Reese's, Kisses, Twizzlers and Heath all critical to its success, Hershey is bringing in an experienced executive from Del. Pozo Someone who works with mature consumer brands and finds new channels for growth.
“Mike’s deep consumer insights, customer relationships, and track record of delivering results and driving strategic change make him the ideal leader to lead our U.S. confectionery business to the next level,” Hershey’s CEO Michelle Burke said in a statement. “He will play a key role in building on our strengths and advancing our vision of becoming a Leading Snacking Powerhouse.”
Hershey has been aggressively driving innovation across its confectionery portfolio, and this will be one of Del's most important challenges. Pozo. He will also be responsible for navigating the ongoing volatility of cocoa prices and inflation, which have reduced consumer spending. Hershey reported an 18% decline in organic volumes in the most recent quarter and lowered its outlook for full-year net sales growth.
