Hershey’s new CEO earns $17 million, higher than predecessor

Kirk Tanner, CEO of Wendy’s, is leaving to become CEO of Hershey. He could earn over $17 million in his first year at Hershey, much more than outgoing CEO Michele Buck. Tanner’s departure marks a shift in leadership styles, as Wendy’s struggles with sales and profit outlook, down 30% year to date.

Tanner will receive a base salary of $1.25 million at Hershey, with additional incentives totaling up to $17.3 million. His compensation package includes stock awards and bonuses that will vest over a three-year period. Buck, the outgoing CEO, had a total compensation of $11.9 million in 2024 and $15.7 million in 2023.

Tanner’s move to Hershey is driven by a lucrative compensation package, including a base salary, stock units, and annual equity-based awards. Buck’s compensation in previous years was also substantial, with total earnings reaching millions due to stock awards and incentives. The leadership change at Hershey marks a significant transition in the company’s top leadership.

Read more at Yahoo Finance: How does Hershey’s new CEO’s salary compare to his predecessor?