The Wall Street Journal, in an article written by Annie Gasparro, reported yesterday afternoon, Oct. 14, 2016, that Hershey Company CEO J.P. Bilbrey, 60, is stepping down from his post. Reportedly, the move comes on the heels of Bilbrey failing to make a deal to sell Hershey to Mondelez International, Inc. Meanwhile, Bilbrey's departure marks the passing of the third CEO of the company leaving within the past 10 years.
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| J.P. Bilbrey |
Mondelez is a New Jersey-based company with its company headquarters operating from East Hanover. The company has made its mark being a multinational confectionary and food and beverage producer.
Though Mr. Bilbrey is stepping down as the CEO by next July (2017), he will remain with the company as chairman.
The deal with Mondelez reportedly fell through approximately seven weeks ago, marking a major disappointment for Hershey investors and executives.
The Hershey Company was founded in February, 1894 by Milton Hershey. As it grew through the years, it has come to be the largest chocolate manufacturer in North America
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