"That is a challenge and a headwind," Lash said. "And that's why as you make tough choices, and Michele has made those, you can do it in the anonymity of New York, but these are people you are going to shop next to so that's just another level that most CEOs don't have to deal with. During the first three months of 2020 before the impact of the coronavirus took hold, salty snack sales in retail jumped 12%, led by a strong performance in SkinnyPop and Pirate's Booty. As Buck navigates Hershey to win in a marketplace where more competitors are fighting for a share of the consumer's ever-growing snacking dollar, the executive must deftly balance how to make the business more conducive to modern tastes and keep pace with other innovating food manufacturers without losing the nostalgia that has come to define the small-town company. "You want somebody who is more visionary, who is more of a change agent and whose certainly into looking, reacting and adapting to the circumstances.". If the next few years are similar to her first three, owners of the company's stock promise to be richly rewarded — shares have surged about 20% to $130 since March 2017 when she took over, adding more than $4 billion to Hershey's market cap. As a child growing up in rural Pennsylvania, Michele Buck and her family would make the drive to Hershey, less than an hour from their home for a factory tour. A key strategy of Buck's shift into other snacking categories is acquisitions. Is coronavirus accelerating the growth of plant-based meat? Michele G. Buck holds the position of Chairman, President & Chief Executive Officer for The Hershey Co. She is also on the board of New York Life Insurance Co., Retail Industry Leaders Association and Food Marketing Institute, Inc. and Benefit Co-Chairman at Children's Brain Tumor Foundation. Focused on Business Administration From the Start. Rather than answer right away with an urgency Bilbrey said raises concerns as to whether a person is really into something for the right reasons, Buck paused. Red River Commodities announces launch of Suntein™ Sunflower Protein, Whoa Dough Announces Reformulation and NEW Brownie Batter Bar Flavor, Food Union Innovates New Fall and Winter Ice Cream Products, Oregon Fruit Releases New Dragon Fruit Mango Fruit In Hand, Hershey bets on product mashups by weaving licensing into marketing, Meat processors expedite plans to implement robotics as pandemic increases pressure, How PepsiCo plans to increase gender, racial diversity in management by 2025, Nestlé buys Freshly, valuing meal delivery firm at $950M, Keurig Dr Pepper restructures into coffee and cold drinks divisions. Beisner-Buck, who is now 42 years of age, conceived using in vitro fertilization. Analysts who follow Hershey praise the job Buck has done, citing her work in product innovation, acquisitions and her expansion of analytics to better understand the consumer and compete digitally. ... You have to literally be on at all times.". The niche is dominated by Jack's Link, which holds more than a 50% market share, and a few other prominent players. "We have a lot of good stuff here, but there was more we were capable of, and I think [my job when I took over] was stretching the organization to see that we could do things differently and capture even more opportunity," she said. When Buck took over, she was the fourth CEO in the past 12 years. It was sold in 1998 to Conagra along with Nabisco's tablespreads business. She was also a Denver Broncos Cheerleader for six years, from 1997-2003. Do you recognize any of these powerhouse women, #BroncosCountry?! A post shared by Natalie Buck (@nattiebuck) on Jul 27, 2019 at 11:51am PDT, READ NEXT: Chiefs Star is 1st of 4 NFL Brothers to Make a Super Bowl, Joe Buck’s Wife and Ex-Wife Were Both NFL Cheerleaders, Copyright © 2020 Heavy, Inc. All rights reserved. The estimated Net Worth of Michele Buck is at least $47.2 Million dollars as of 28 October 2020. Still, the interest Bilbrey and others before him took in her career reverberates today. It was emotional, shared with her family," Bilbrey recalled when he told Buck about the job offer. Hershey CEO Michele Buck at the New York Stock Exchange, Hershey's Chocolate World — a Willy Wonka-like candy store loaded with the company's sweets, snacks and clothing, Acquisitions during Buck’s time at Hershey, A road in Hershey, Pennsylvania next to the chocolate maker's headquarters with Kisses street lamps, Christopher Doering/Food Dive; edited by Brian Tucker/Food Dive, The parking lot in front of the Hershey’s headquarters.  Prior to her appointment as CEO, Buck served as Chief Operating Officer for Hershey, where she led the company's day-to-day operations in North America as well as operations in Central and South America. She was put in charge of creating Hershey's growth strategy for the next 20 years, which centered primarily on the evolution of snacking. Buck isn't afraid to disrupt the 126-year-old company she was handpicked to lead. "She was a good confidante, both in pushing back and in being supportive. Last month, Hershey jettisoned the brand, selling Krave to a private equity group run by the jerky brand's founder for an undisclosed amount. After that, it's mostly populated with dozens of smaller, lesser-known manufacturers. She enjoys balancing the strategic requirements of planning long-term strategy and cultivating future leaders with those that are more minute, like delving into analytics or daily operations, she said. Brewster, a former Krispy Kreme CEO who has held executive positions at other companies including Campbell Soup, said Buck was able to turn around the refrigerated business because she was willing to refocus the portfolio on products with a higher chance of success while at the same time keeping her team fully engaged — even if the brands they worked on were the ones being cut. "We totally sharpened our profile of what companies we were interested in.  In December 2016, it was announced that she was to succeed John Bilbrey as chief executive officer of the company. The company also had a close relationship with retailers and a mature distribution network to seamlessly integrate the new products. The food industry veteran has transformed the small-town maker of Kisses and Reese's through a series of acquisitions and innovation in core brands since taking over the 126-year-old company in 2017. A visit to Hershey, Pennsylvania in the southeastern part of the state reveals a town that has thrived because of the chocolatier's presence and a willingness to embrace the deep connection it has with the company. In April of 2014, Buck married his current wife, Michelle Beisner-Buck. I think it's that triple play that Michele brings to the part: makes the tough choices, amazing innovator, clear and able to really get the leadership skills to pull that together... To me, that's the triad that you want in a great leader. Buck, his current wife, his newly-born sons, and his older daughters all form a close family. Hershey is now targeting $100 million-plus brands with strong margins. She spent parts of her career working with brands such as Cheetos at PepsiCo's Frito-Lay snack division. Despite the difference in age between the children, Buck’s daughters from his previous marriage spend time bonding with their younger brothers. One Brands also has posted promising results during the short time it's been in Hershey's portfolio. Six years later, Hershey CEO J.P. Bilbrey handpicked her for the position of chief growth officer — citing her business experience, career at Hershey and knowledge of the company, and her ability to build brands that resonated with consumers. Consumers have more snacking options and a growing number of people are turning to click-and-collect and home delivery in place of trips to the store — efforts that have accelerated since the pandemic took hold. A drive into town shows a billboard on the side of the road welcoming people to the "Sweetest Place on Earth." Buck is described by former bosses as a persuasive communicator who has a rare ability to take complex information and distill it into a simple message so employees can remember and follow through. Even as the food and beverage industry responds to the coronavirus, it hasn't altered the underlying changes taking place before the pandemic began. , In 2017, Hershey announced its first acquisition under Buck, a $1.6B deal to purchase Amplify Snack Brands, further diversifying Hersey's holdings in the healthy snack category. In April of 2018, Buck and his wife welcomed twin sons into the world. "I am so exhilarated every single day, and I'm so fortunate to have this opportunity to lead this great iconic company," she said. The two began dating from there.After a year, the lov… he asked her, "because it'll guide how I spend time with you.". At the same time, Buck must carefully lead Hershey and its more than 16,000 employees through the coronavirus pandemic that has changed consumer shopping habits and left millions of cash-strapped Americans unemployed, putting pressure on the company's sales. "So you really believe in me?" Instead, Buck, who enjoys exercising, spending time with her family and relaxing at her self-described "happy place" on the beach when she's not at Hershey, said she is focused on leading the company into its next phase of growth. "That's why it's essential that their products are resonating with evolving consumer trends.". Beisner-Buck, who is now 42 years of age, conceived using in vitro fertilization. Michele Buck is an American businesswoman. He has been married twice, once to Ann Archambault (now Ann Buck-Kitchel), and his current wife is former Denver Broncos Cheerleader Michelle Beisner-Buck. The jobs, Buck said, gave her financial independence and experience working with people in different environments. Instead of mints, restaurants disperse Hershey Kisses to patrons leaving the establishments. , In 2005, while serving as Senior Vice President, President of U.S. Snacks at Hershey, Buck received the Women Worth Watching Award. As you can see, they continue to stay in touch and even celebrate holidays together. I'm also equally always dissatisfied that we're not all the way there," Buck said from her office, where a bowl brimming with candies sits on a nearby table and outside her window, trains filled with sugar and corn-based products pass by on their way to one of the company's plants. This has led to clashes over strategy with prior CEOs, leading to their ouster or resignation. In addition, she makes $16,787,200 as Chairman of the Board, President, and Chief Executive Officer at The Hershey Co. But in January, the company wrote down the value of its former Krave brand by $108 million after consumers drifted toward mainstream options where growth was more robust and a proliferation of competitors in the premium segment squeezed profit margins. "To me, that's the triad that you want in a great leader.". So thankful for my boys #thanksgiving, A post shared by MichelleBeisnerBuck (@michellebeisner) on Nov 28, 2019 at 7:19pm PST. When she took over as Hershey's CEO in March 2017, Buck set out to create a "snacking powerhouse" by accelerating growth in the company's hugely profitable confectionary business and expanding its portfolio into new snack offerings. Buck, a Fox Sports commentator, has worked as a play-by-play announcer in five other Super Bowls, and Super Bowl LIV will be his sixth. Michele Buck • Hershey Senior Vice President, President U.S. Snacks ... My father was the first in his family to finish high school, and joined the military to earnmoney for a college education. Joe Buck married Ann Buck, a former NFL cheerleader, in 1993. Buck, who advocated for the Krave deal five years ago, said despite its challenges, the acquisition provided Hershey with invaluable insights that have shaped its M&A; strategy. It also showed Buck's willingness to look beyond the finances and dig deeper into the broader impact her decisions would have on employees. One day Bilbrey pulled Buck aside, discussing the need for a succession plan and challenging her to be part of it. As the popularity of snacking increases, other deep-pocketed players such as Conagra Foods, Kellogg Company, Mondelez and Mars Wrigley have entered the segment or added to their existing portfolio to capture part of that growth — many of them in the same bar, jerky and salty categories as Hershey.
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