This audio is auto-generated. Please let us know if you have feedback.

Hershey CEO Michele Buck plans to retire on June 30, 2026. Buck, who has been at Hershey for 20 years, took over the top post in 2017. "Now is the right time to formally activate our succession planning and begin the transition to Hershey's next leader," she said in a statement.

The Reese's and Kisses maker said Buck intends to remain CEO and chairman until her successor is appointed. Hershey's board has appointed a special committee to find the company's next CEO and will consider external and internal candidates.

Buck's departure next year comes as the storied snacks maker faces a series of challenges that have weighed on the business, including higher cocoa costs, inflation that has prompted cash-strapped consumers to cut back on spending and growing demand for popular GLP-1 weight-loss drugs.