THE SCOOP Hershey is set to announce the departure of CEO Michele Buck, according to people familiar with the matter. Buck, CEO since 2017, will remain in the job and on the board as the company searches for her replacement, with the goal of a handoff by July 2026, the people said. Buck’s early tenure was a success, but the past year has been bruising. Hershey didn’t diversify like its peers did, leaving it exposed to soaring cocoa prices, inflation-weary consumers who have shifted toward healthier foods, and the looming threat from Ozempic and its competitors. Recent earnings were weak enough to draw an unsolicited takeover bid from snack giant Mondelez, reported by Bloomberg last month. Mondelez backed off after resistance from the charitable trust that controls Hershey. Buck told the board late last year that she intended to retire, and they asked her to stay on during an extended transition, one of the people said.  Jemal Countess/Getty Images for Women’s Forum of New YorkA likely internal replacement for Buck would have been Michael Del Pozzo, who led Hershey’s candy business. But he left in December after just three months on the job to return to Pepsi. The Hershey Trust has unusual influence over the chocolatier’s boardroom, thanks to a stake that gives it almost 80% of the voting power. Hershey declined to comment. | 
