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Diving overview:
- Hershey appointed Andrew Archambault as president of US Confectionery and Veronica Villasenor as president of Salty Snacks. Both appointments are effective February 3.
- Archambault joined Hershey from Keurig Dr Pepper, while Villasenor worked for the Reese’s maker for 22 years. Villasenor succeeds Kristen Riggs, who left Hershey after 20 years to pursue other opportunities.
- The two executive appointments come just days after Hershey CEO Michelle Buck, who took the top job in 2017, said she plans to retire next year.
Dive Insights:
The past few months have been very busy for Hershey’s leadership team. Last December, Hershey said Michael Del Pozzo had left and returned to PepsiCo after just three months overseeing its U.S. confectionery business.
Now, confectionery manufacturers are turning to beverages again to help leaders oversee the confectionery.
Archambault will operate a portfolio of iconic brands including Kisses, Reese’s and Jolly Rancher. He most recently served as Chief Customer Officer at Keurig Dr Pepper, where he “rapidly grew the business and positioned KDP for the long term through strategic acquisitions and partnerships,” according to Hershey.
Archambault, who has also held leadership roles at Bacardi USA and Coca-Cola, has deep ties to beverages, but his insights into shoppers’ purchasing habits and changing consumer preferences will prove invaluable at Hershey.
“Andrew is a proven executive who has transformed a complex portfolio of consumer brands through deep commercial expertise and a customer-centric approach,” Buck said in a statement. “Combining this announcement with our internal promotions, we are thrilled to welcome Vero as the new President of Salty Snacks.”
Villasenor has a “proven track record” that will help drive salty snacks growth ambitions at Hershey, the company noted. She previously served as Vice President of Salty Snacks, which includes brands such as SkinnyPop, Pirate’s Booty and Dot’s Homestyle Pretzels.
Hershey added that Villasenor brings a unique perspective through his roles in management, marketing and innovation across Hershey’s three business units: Salty Snacks, Confectionery and International. Having been with Hershey for more than 20 years, few companies have adapted better to the company’s strategy in the salty snack space than Villasenor.
Hershey has been grappling with external issues that have strained its business, along with changes in leadership. New role. Archambault and Villasenor will immediately face these headwinds that show no signs of abating.
The popular snack maker has been hit by rising cocoa prices and increased demand for its popular GLP-1 weight loss drug. It was also impacted by a slowdown in spending by inflation-weary shoppers and a consumer shift toward non-chocolate snacks. Last November, Hershey lowered its net sales growth forecast after a series of price increases reduced demand for the company’s sweetener and salty products.
Last week, Hershey said its board had appointed a special committee to find the next CEO and would consider external and internal candidates. With Buck not leaving his position until mid-2026, Archambault and Villasenor will have ample time to make his mark in his respective businesses and could be considered to take over as Hershey’s next CEO.
