PepsiCo and Wendy’s exec Kirk Tanner to become Hershey’s next CEO

Longtime food and beverage exec Kirk Tanner was appointed as The Hershey Company’s new CEO early on Tuesday.

Tanner will be replacing former Hershey’s CEO Michele Buck after she announced her retirement early this year, and will be leaving his current position as Wendy’s CEO to begin his new role with the chocolate company on August 18, 2025.

His business portfolio includes the likes of PepsiCo, where he worked for 31 years and climbed the corporate ladder from sales associate to the tiptop as the soda giant’s chief executive officer.

During his time with the company it saw steady, slow rising annual revenue. His 5-year stint as chief executive also had its fair share of brand-expansion like the acquisition of Rockstar Energy and Siete Foods, investing in environmental efforts like regenerative potato farming, and controversies like the brand’s significant effect on pollution and questionable health-washing.

Trading Frostys for chocolate bars

Afterleaving PepsiCo, Tanner spent a little over a year as Wendy’s CEO before he decided to amicably part ways with the company.

His short time with the signature red pigtailed fast food company was marked by a focus on “innovation” through the expansion of menu options, including limited-time Frosty flavors, and opening new restaurants, including the 74 new Wendy’s that opened during the first quarter of 2025.

However, his leave also comes just as investors speculate the company’s stock will fall as much as 6% by the end of August, as it has seen steady decreases in shares over the last year.

“It has been a privilege to lead Wendy’s, an iconic brand, and I leave with a sense of gratitude for our employees and franchisees who make the Company a truly special place,” Kirk said in a statement. “The brand is of the highest quality in the quick service restaurant industry, and I believe there is tremendous growth potential ahead for all Wendy’s stakeholders.”

‘Leading snacking powerhouse ambition’

Kirk’s return to the “packaged goods” industry comes as Hershey looks to continue their expansion of non-chocolate snack foods, especially with the potential rising costs of imported cocoa beans due to Trump-administration tariffs.

“Kirk is a proven, high-impact leader in the food and beverage industry with a great combination of customer and consumer passion, commercial acumen and operational scale,” Mary Kay Haben, Hershey’s Lead Independent Director and Chair of the CEO Search Committee said. “With a track record of driving growth in complex global businesses, Kirk brings a focused, results-driven mindset. His deep experience in snacks, beverages, M&A and innovation—combined with public company CEO and board roles—makes him well suited to lead Hershey into the future.”

Following Kirk’s leave, Wendy’s current CFO Ken Cook will step in as Interim CEO on July 18 for the company.

As of this afternoon, Wendy’s shares were slightly down by .5% (Nasdaq: WEN), while Hershey’s shares were down by around 3% (Nasdaq: HSY)