Hershey to streamline US businesses

Reuters03-16 22:40

Hershey to streamline US businesses

March 16 (Reuters) - Hershey HSY.N said on Monday it would unify its U.S. businesses, bringing its sweet, salty and protein portfolios under a single roof, as the chocolate maker looks to simplify operations.

Other major packaged‑food makers, including Nestle NESN.S and Campbell's CPB.O, have also recently pursued similar streamlining efforts across their businesses.

It is the first time the maker of Reese's and SkinnyPop has consolidated brand marketing, category strategy and consumer insights across its U.S. businesses.
Hershey has been navigating higher costs, linked to cocoa and sugar, by selectively raising prices, altering packaging, even as it battles sluggish consumer spending on indulgent confectionary products.
The company said the new model aims to scale the commercial strengths of its confectionery brands at par with its salty and protein offerings.
Effective immediately, Hershey U.S. President Andrew Archambault will take on an expanded role, overseeing the entire domestic portfolio, including commercial planning, customer relationships and retail execution; Nitin Jain will join as chief strategy and transformation officer and report directly to the CEO.
In August last year, former Wendy's chief Kirk Tanner took the helm at Hershey, replacing Michele Buck, who was the CEO for eight years.

(Reporting by Savyata Mishra in Bengaluru; Editing by Shinjini Ganguli)

((Savyata.Mishra@thomsonreuters.com;))

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