The Hershey Company (NYSE: HSY) today announced that John P. Bilbrey, Executive Vice President, Chief Operating Officer, has been named interim President and Chief Executive Officer. Bilbrey replaces David J. West, President and Chief Executive Officer, who has informed the Board of Directors that he is leaving Hershey to accept a position at another company.

"We're pleased that J.P. has accepted this position," said James E. Nevels, Chairman of the Board of Directors. "He has worked closely with the Board for several years and has been involved in all aspects of the Company's strategy and operations. The Board has seen firsthand his leadership and expertise and unanimously made this appointment. We will work quickly to name a permanent chief executive officer to ensure the continuation of this orderly transition.

"Business fundamentals are solid and management will continue to execute against the strategy outlined at the CAGNY conference in February. We expect that Hershey will continue its disciplined approach to global expansion while achieving its long-term target of net sales and adjusted earnings per share growth of 3-5 percent and 6-8 percent, respectively, with the goal of increasing value for all stockholders. On behalf of the Board, I want to thank Dave for his service and wish him all the best in his future endeavors.

"I also want to take this opportunity to thank Hershey's more than 13,000 employees for their continued commitment to winning in the marketplace. J.P. and our unparalleled team enjoy the full confidence of the Board of Directors as we work, as One Hershey, to deliver growth in the U.S. and around the world."

"Hershey got off to a strong start in 2011, and we will continue to focus on driving growth in the United States and building our presence in key markets in Asia and Latin America as we take Hershey to the next level," said Bilbrey. "We have an outstanding team in place, and I'm very optimistic about our future as we build a truly global company. We will continue to invest in our brands and capabilities as we leverage our intellectual capital and expand our proprietary Insights Driven Performance initiative."

"After 10 years with the Company, it's time to take on the next challenge," West said. "I'm thankful for the opportunity to serve with the great people of The Hershey Company, and I'm very confident in their ability to deliver in the future. J.P. has been instrumental to our success and has been a great partner over the years. He is uniquely qualified to lead The Hershey Company as it builds on its U.S. leadership position and expands globally."

Bilbrey has more than 30 years of global consumer packaged goods experience. He was named Hershey's Chief Operating Officer in 2010 with responsibility for day-to-day global operations and commercial activities, leading the Company's supply chain as well as geographic regions, including the U.S.A., the Americas and Asia. From December 2007 to November 2010, he was Senior Vice President, President, Hershey North America. Bilbrey played a key leadership role in the Company's turnaround as well as in the creation and implementation of the Company's confectionery demand landscape and establishment of Hershey's presence in markets around the world.

Bilbrey joined Hershey in 2003 as Senior Vice President, President Hershey International. Before joining Hershey, Bilbrey held executive positions at Mission Foods and Danone Waters of North America, Inc., a division of Groupe Danone, Paris, France. He was responsible for all operations of Groupe Danone's North American water division. Additionally, he spent 22 years at The Procter & Gamble Company where he served in positions of increasing responsibility in both the U.S. domestic business as well as numerous international assignments. He has lived abroad and worked in more than 50 countries in North America, Latin America, North Africa and Asia.

Safe Harbor Statement

This release contains statements that are forward-looking. These statements are made based upon current expectations that are subject to risk and uncertainty. Actual results may differ materially from those contained in the forward-looking statements. Factors that could cause results to differ materially include, but are not limited to: issues or concerns related to the quality and safety of our products, ingredients or packaging; changes in raw material and other costs; selling price increases, including volume declines associated with pricing elasticity; market demand for our new and existing products; increased marketplace competition; disruption to our supply chain; failure to successfully execute acquisitions, divestitures and joint ventures; changes in governmental laws and regulations, including taxes; political, economic, and/or financial market conditions; risks and uncertainties related to our international operations; disruptions, failures or security breaches of our information technology infrastructure; the impact of future developments related to the investigation by government regulators of alleged pricing practices by members of the confectionery industry, including risks of subsequent litigation or further government action; pension cost factors, such as actuarial assumptions, market performance and employee retirement decisions and funding requirements; the ability to implement our supply chain realignment initiatives within the anticipated timeframe in accordance with our cost estimates and our ability to achieve the expected ongoing annual savings from these initiatives; and such other matters as discussed in our Annual Report on Form 10-K for 2010. All information in this press release is as of May 18, 2011. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

About The Hershey Company

The Hershey Company (NYSE: HSY) is the largest producer of quality chocolate in North America and a global leader in chocolate and sugar confectionery. Headquartered in Hershey, Pa., The Hershey Company has operations throughout the world and more than 13,000 employees. With revenues of more than $5 billion, Hershey offers a wide range of confectionery products, including such iconic brands as Hershey's, Reese's, Kisses, Hershey's Bliss, Special Dark, Hershey's Syrup, Kit Kat, Twizzlers, Ice Breakers, PayDay and Jolly Rancher. Hershey also is a leader in the premium and artisan chocolate segments, with such brands as Scharffen Berger and Dagoba, offered through the Artisan Confections Company, a wholly owned subsidiary. The company is focused on growing its presence in key international markets in Asia and Latin America while continuing to build its position in the United States.

Corporate Social Responsibility is an integral part of the company's global business strategy, including goals and priorities focused on fair and ethical business dealings, environmental stewardship, fostering a desirable workplace for employees, and positively impacting society and local communities. Milton Hershey School, established in 1909 by the company's founder and administered by Hershey Trust Company, provides quality education, housing, and medical care at no cost to children in social and financial need. Students of Milton Hershey School are direct beneficiaries of The Hershey Company's success. Visit us at www.hersheys.com.

The Hershey Company
INVESTOR CONTACT:
Mark Pogharian, 717-534-7555
or
MEDIA CONTACT:
Kirk Saville, 717-534-7641