Milling & Baking News Corporate Profiles - October 2011 - (Page 96)

Company Overview The Hershey Co. New leadership caps off stellar Q2 earnings he Hershey Co., Hershey, Pa., has new leadership with a familiar face. John P. Bilbrey was named president and chief executive officer of The Hershey Co. He succeeds David J. West, who is leaving the company to become c.e.o. of Del Monte Foods. Mr. Bilbrey also will be a director of the company. Mr. Bilbrey began his tenure at Hershey in 2003 as senior vice-president, president Hershey International. Before being named interim president and c.e.o. in May, he was chief operating officer of the company. He was senior vice-president, president, Hershey North America from December 2007 to November 2010. Mr. Bilbrey assumes leadership for Hershey during a bright period. Income for The Hershey Co. nearly tripled in the second quarter, a sign that the $80 million in charges the company took in the same period of 2010 has not stopped Hershey’s growth momentum in the confectionery marketplace. For the second quarter ended July 3, the company recorded net income of $130,019,000, up 178% from $46,723,000 during the same quarter of the previous year. Sales for the quarter were $1,325,171,000, up 7% from $1,233,242,000. Growth in net income and sales were attributed to the strength of the company’s candy, mint and gum (C.M.G.) category in addition to one-time T costs during the same period in 2010. “As we enter the third quarter, we are well-positioned to continue to increase U.S. market share and deliver on our financial objectives,” Mr. Bilbrey said in the company’s earnings report. “In the second half of the year, consumers will begin to see higher retail price points on our everyday instant consumable and take-home packaged candy.” Mr. Bilbrey added that growth of the U.S. C.M.G. category would be 3% to 4% for the remainder of 2011. “We’ll closely monitor category performance, work with our key retail partners, and make necessary consumer investments to ensure that the category continues to perform well in the second half of the year and into 2012,” he said. Hershey led the chocolate candy box/ bag/bar less than 3.5-oz category, with $488,567,900 in sales for the 52 weeks ended Aug. 7, according to SymphonyIRI data based on individual brand listings. Sales for the period were nearly 8% higher compared with the same year-ago period. The company also led sales in the box/ bag/bar greater than 3.5-oz category with $931,322,800 in sales for the 52 weeks ended Aug. 7, which represents an increase of 6% over the same period last year. A growth driver was the introduction of John P. Bilbrey new products. In June, the company debuted Hershey’s Air Delight brand chocolate candies. The brand includes candy bars and Hershey’s Kisses Chocolates that have an airy texture. The company announced plans to release Jolly Rancher Crunch ‘N Chew in December. In September, Hershey announced its partnership with two cocoa groups to participate in “CocoaLink — Connecting Cocoa Communities.” The Ghana Cocoa Board, the World Cocoa Foundation and Hershey launched the voice and text message service for cocoa farmers and their families. The program aims to disseminate educational information about farming practices, child labor, crop disease prevention, health, farm safety, post-harvest production and crop marketing. CP F ast acts John P. Bilbrey succeeded David J. West as president and c.e.o. of The Hershey Co. The company released Hershey’s Air Delight in June, and plans to release Jolly Rancher Crunch ‘N Chew in December. The company is part of CocoaLink — Connecting Cocoa Communities, developed for cocoa farmers in Ghana. 96 \ October 2011 Milling & Baking News • Food Business News • Baking & Snack • Meat & Poultry Corporate Profiles

Table of Contents for the Digital Edition of Milling & Baking News Corporate Profiles - October 2011

Milling & Baking News Corporate Profiles - October 2011
Contents
Editorial - Headwinds yes, but improvement looms
Grain-based foods
Frozen meals
Soup
Beverages
Beef, chicken and pork
Dairy
Confectionery
Food service
Company Overview - Grupo Bimbo S.A.B. de C.V.
Company Overview - Campbell Soup Co.
Company Overview - The Coca-Cola Co.
Company Overview - ConAgra Foods, Inc.
Company Overview - Groupe Danone S.A.
Company Overview - Dean Foods Co.
Company Overview - Diamond Foods, Inc.
Company Overview - Dunkin’ Brands Group Inc.
Company Overview - Flowers Foods, Inc.
Company Overview - General Mills, Inc.
Company Overview - Hain Celestial Group Inc.
Company Overview - The H.J. Heinz Co.
Company Overview - The Hershey Co.
Company Overview - The Kellogg Co.
Company Overview - Kraft Foods Inc.
Company Overview - Krispy Kreme Doughnuts Inc.
Company Overview - Mars, Inc.
Company Overview - Nestle S.A.
Company Overview - Panera Bread Co.
Company Overview - PepsiCo, Inc.
Company Overview - Ralcorp Holdings, Inc.
Company Overview - Sara Lee Corp.
Company Overview - Smithfield Foods, Inc.
Company Overview - J.M. Smucker Co.
Company Overview - Snyder’s-Lance, Inc.
Company Overview - Tyson Foods, Inc.
Company Overview - Unilever P.L.C.
Ad Index

Milling & Baking News Corporate Profiles - October 2011

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