Dive Brief:
- Hershey named Michael Del Pozzo as president of U.S. Confection starting Sept. 16. He will oversee brands including Kisses, Reese’s and Jolly Rancher.
- Hershey said Del Pozzo “brings a wealth of experience in leading growth and transformation” during his 23 years at PepsiCo. As president and general manager of Gatorade, Del Pozzo recently oversaw a $10 billion business, transforming the sports drinks company into a portfolio of sports and fitness brands. He also previously led the sales and commercial functions for PepsiCo’s Frito Lay North America unit.
- Del Pozzo is succeeding Charles Raup who is retiring from Hershey after 15 years to “pursue other executive opportunities.”
Dive Insight:
While Hershey has been building out its salty snacks business, the Pennsylvania-based firm still generates the vast majority of its revenue from confections. In 2023, Hershey generated $9 billion of its $11.2 billion in net sales from confections in North America. With Reese’s, Kisses, Twizzlers and Heath, among other brands, vital to its success, Hershey is grabbing an experienced executive in Del Pozzo who has worked with mature consumer brands and found new channels for growth.
“Mike’s deep consumer insights, his customer relationships, and his track record of delivering results and driving strategic change position him as the ideal leader to guide our U.S. Confection business through its next chapter,” Michele Buck, Hershey’s CEO, said in a statement. “He will be instrumental in building on our strengths and advancing our Leading Snacking Powerhouse vision.”
Hershey has been aggressively innovating across its sweets portfolio, a task that will be among the most important for Del Pozzo. He also will be responsible for navigating the ongoing volatility in cocoa prices and inflation that has caused consumers to cut back on what they buy. During its most recent quarter, Hershey noted organic volume fell 18%, and it lowered its full-year net sales growth outlook.
