12:54 ET--Hershey has tapped a PepsiCo veteran for CEO, picking an executive with 30 years at the snacking behemoth as the chocolatier works to deepen its own foothold in snacks. Kirk Tanner, who will join Hershey after a brief stint running Wendy's, will take the helm of a company working to expand its stable of salty snack offerings as it struggles with a sharp run-up in cocoa costs. Hershey has been adding to its salty lineup in recent years, most recently with a deal for Lesser Evil popcorn, though snacking in the U.S. faces its share of challenges too, from heightened scrutiny over ultra-processed foods to the precipitous rise of weight-loss drugs. Bernstein analysts say they worry about pressures in the indulgent snacking sector such as forthcoming GLP-1 pills and the elimination of candy from food-stamp spending in some states. (jesse.newman@wsj.com)

(END) Dow Jones Newswires

July 08, 2025 12:54 ET (16:54 GMT)

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