Hershey names new executives to oversee confection, salty snacks

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Dive Brief:

• Hershey named Andrew Archambault as president of U.S. confection and Veronica Villasenor as president of salty snacks. Both appointments are effective Feb. 3.
• Archambault joins Hershey from Keurig Dr Pepper, while Villasenor has been with the Reese’s maker for 22 years. Villasenor succeeds Kristen Riggs, who is leaving Hershey after 20 years to pursue other opportunities.
• The two executive appointments come a few days after Hershey CEO Michele Buck, who took over the top post in 2017, said she plans to retire next year.

Dive Insight:

The last few months have been a busy one for Hershey in its executive ranks. In December, Hershey said Michael Del Pozzo left after just three months overseeing its U.S. confection business to return to PepsiCo.

Now, the sweets maker is turning again to beverages for a leader to oversee confections.

Archambault will run a portfolio of iconic brands including Kisses, Reese’s and Jolly Rancher. Most recently, he served as chief customer officer at Keurig Dr Pepper and “rapidly grew the business and positioned KDP for the long-term through strategic acquisitions and partnerships,” according to Hershey.

While Archambault, who also has held leadership roles at Bacardi USA and Coca-Cola, has deep ties to beverages, his insight into shopper buying habits and changing consumer preferences should prove valuable at Hershey.

“Andrew is a proven executive who has transformed complex consumer brand portfolios through his deep commercial expertise and customer-centric approach,” Buck said in a statement. “I am very excited to pair this announcement with an internal promotion, welcoming Vero as our new President of Salty Snacks.”

Villasenor has a “proven track record” at Hershey that will help drive its salty snacks growth ambitions, the company noted. She previously served as vice president of salty snacks, which includes brands such as SkinnyPop, Pirate’s Booty and Dot’s Homestyle Pretzels. 

Hershey added that Villasenor brings a unique perspective from her roles in management, marketing and innovation from across Hershey’s three business units — salty snacks, confection and international. With more than two decades at Hershey, few are as attuned to the company’s strategy in salty snacks as Villasenor.

Along with the changes to its executive ranks, Hershey has grappled with outside challenges that have weighed on its business. In their new roles. Archambault and Villasenor will immediately face these headwinds that show no sign of abating. 

The storied snacks maker has been hit by higher cocoa costs and growing demand for popular GLP-1 weight-loss drugs. It also has been impacted by a slowdown in spending by inflation-weary shoppers and consumer shifts to non-chocolate snacks. Last November, Hershey cut its net sales growth forecast after a series of price hikes curtailed demand for the company’s sweet and salty products.

Last week Hershey said its board has appointed a special committee to find the company’s next CEO and will consider external and internal candidates. With Buck not leaving her post until mid-2026, Archambault and Villasenor will have plenty of time to make their marks on their respective businesses and could be considered to take over as Hershey’s next CEO.