Chuck Davis to replace John Bilbrey as chairman of Hershey’s board of directors
Hershey said Bilbrey, age 61, will not stand for re-election at its 2018 annual meeting of stockholders on May 2, 2018, but he will continue to serve for the remainder of his term.
“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.
“Charles A. (Chuck) Davis, the company’s lead independent director, age 69, will assume the role of chairman,” said Hershey.
“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,” added Bilbrey.
Hershey recently announced a 1% increase in 2017 net sales, and is “very open to mergers and acquisitions” in 2018.
