Hershey Names Wendy’s Tanner CEO, Seen as Good for Snacking Push

Hershey Co. appointed Kirk Tanner to be the chocolate maker’s next president and chief executive officer.

The 57-year-old Tanner, who is currently the president and CEO of Wendy’s Co., will take over the new role on August 18. Hershey’s current CEO, Michele Buck, previously announced she’d be retiring from the company next year.

Hershey shares fell 2.3% at 10:14 a.m. in New York, while Wendy’s stock declined less than 1%.

The appointment is a “logical next chapter” in Hershey’s expansion into snacks, Jim Salera, an analyst for Stephens, wrote in a note to clients. Tanner’s experience is ...