Hershey (NYSE: HSY ) is instituting a management shake-up this week.
On Wednesday, the self-proclaimed "largest producer of quality chocolate in North America" announced that effective May 13:
- Chief Financial Officer and Chief Administrative Officer Humberto P. Alfonso will become president of the company's International operations.
- David W. Tacka will take over Alfonso's duties as chief financial officer on that date.
- New hire Waheed Zaman will take over as chief administrative officer more quickly, on April 29.
- Chief Growth Officer Michele G. Buck will be promoted to president of the North America division.
- Chief Commercial Officer D. Michael Wege will be promoted to chief growth and marketing officer.
- Current U.S. business head E. Daniel Vucovich will take Wege's place, promoted to chief commercial officer.
Hershey shares closed down 2.1% at $89.34 in Wednesday trading, ahead of these announcements.