Overview

• Kirk Tanner will step down as Wendy’s CEO on July 18 and begin as Hershey’s chief executive on August 18.
• Michele Buck is retiring after nearly 20 years at Hershey and will remain as an advisor through the end of the year.
• Wendy’s CFO Ken Cook will serve as interim CEO starting July 18 while the board conducts a search for a permanent successor.
• Tanner spent more than 30 years at PepsiCo before joining Wendy’s in February 2024 and led menu innovation as the chain’s shares fell about 31 percent this year.
• Hershey’s stock dropped roughly 3 percent after the announcement, and Wendy’s shares held steady following the leadership changes.