The Hershey Co. has announced leadership changes that it says will bolster the candy company's growth in the international markets, and at the top of the shift is the appointment of Chief Financial Officer Humberto P. Alfonso to president of international business.
“These organizational enhancements will help accelerate our global growth by broadening and leveraging our leadership expertise, knowledge and capabilities across the company. We have an experienced management team, great talent throughout the organization and the right vision, strategy, talent and brands to win wherever we compete,” Hershey President and CEO John P. Bilbrey said in a statement.
Alfonso, who has been with Hershey since 2006 and CFO since 2007, has extensive international business experience that will help the company expand in global markets, the company said. He also is Hershey’s executive vice president and chief administrative officer.
Alfonso formerly worked for the Dr Pepper Snapple Group and Cadbury Schweppes where he was responsible for international markets, finance and information technology.
Other executive changes:
• David W. Tacka, chief accounting officer, will become senior vice president and CFO.
• Michele G. Buck, chief growth officer, will become president of North American business with responsibility for accelerating Hershey growth in the U.S. and Canada.
• E. Daniel Vucovich, who now leads the company’s U.S. business, will become senior vice president and chief commercial officer.
• D. Michael Wege, chief commercial officer, will become the senior vice president, and chief growth and marketing officer.8•
• Hershey has hired Waheed Zaman to be its senior vice president and chief administrative officer. He will be responsible for optimizing Hershey’s IT and global shared services. Zaman, who will begin April 29, is an expert in global productivity transformations. He formerly worked for Chiquita Brands International and Procter & Gamble.
Last year, Hershey announced it was making a strategic push to expand its international market share by growing revenue 54 percent to $10 billion by 2017.
Hershey this morning also released its first quarter results in which revenue rose 5.5 percent to $1.8 billion. Net income was nearly $242 million, or 22 percent more than a year ago. Earnings per share was $1.06, up from 87 cents a share in the year-ago quarter. Analysts had estimated $1.04 per share for the quarter, according to Yahoo Finance.