Hershey unveils latest plans to accelerate global growth

By Peter Stiff

- Last updated on GMT

Related tags: Chief executive officer, Executive officer, The hershey company, Hershey, Us

Hershey, one of the world's largest confectioners, has announced
plans to accelerate global growth by re-organising its entire
structure.

The changes, which are effective immediately, will incorporate a US commercial group, an international commercial group and a global growth and innovation group.

The US commercial group will look to capitalise on its scale in the US snack market through continuing to build on Hershey's success in confectionery.

The firm has also signalled that it plans to expand in Asia through its international commercial group, which will take responsibility for pursuing profitable growth in the emerging market.

A global growth and innovation group will aim to develop global brands and strengthen marketing capabilities worldwide.

Richard Lenny, chairmen, president and chief executive officer of the Hershey Company commented on the major overhaul.

"We've made great strides in executing Hershey's value-enhancing strategy in recent years, delivering record sales, market share and earnings from operations. Now is the right time, as we approach the close of what we expect will be another strong year, to take steps to strengthen our performance in the near term and build a structure that will continue our momentum for the long term."

Lenny went on to state that new organisational structure "will allow Hershey to capture a larger share of the US snack market while broadening its international presence."

With revenues of over $4 billion and with a portfolio of some of the world's most famous brands, a more globally organised Hershey may well see its dependence on the US lightened, as it is successful in new markets.

Related topics: Manufacturers, Hershey

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