Hershey Appoints Kirk Tanner as New CEO
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Stocktwits on MSNNew Hershey CEO Kirk Tanner Gets A Thumbs Down From Market, But Retail Traders Hope For Sweeter Story AheadHershey Co. (HSY) stock dropped 4.7%, its steepest intraday decline this year, on Wednesday, after the company announced that Wendy's Chief Kirk Tanner will take over as its chief executive officer next month.
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New CEO Kirk Tanner’s background in consumer packaged goods and brand building will help boost Hershey, one analyst says.
At Hershey, he’ll make a base salary of $1.25 million and is eligible to earn a cash incentive award that’s targeted at 180% of his base salary. Tanner will also receive a restricted stock unit award worth $7 million and a performance stock unit worth $4 million as a sign-on bonus.
As the fast-food chain seeks a permanent replacement for departing CEO Kirk Tanner, one analyst suggests that new leadership will have its work cut out.
The fast-food chain early last year decided to replace a successful CEO with a restaurant industry outsider. That outsider