Sept 2 - Hershey announced on Wednesday that Dave Hulays, a longtime company finance executive, will become its new chief financial officer effective immediately. The promotion moves an industry veteran into the finance chief role as the confectioner contends with a challenging macroeconomic backdrop while experiencing solid consumer demand and benefit from elevated selling prices.
Background and career path
Hulays, 54, originally joined Hershey in 2012 as vice president of finance for Canada. Since that initial appointment he has assumed broader financial leadership across the company, taking on responsibilities that span the U.S. and international businesses. Prior to his tenure at Hershey, Hulays spent nearly 15 years at Procter & Gamble, occupying roles across commercial functions, supply chain and global business development.
Leadership transition and timing
The company said Steve Voskuil, who has overseen Hershey's finance organization for the past seven years, will leave the CFO post and move into the newly described role of senior vice president, Strategic Projects. In that capacity Voskuil will focus on initiatives for the chief executive officer and the board. Voskuil also announced his intent to retire in early 2027.
Operational context
Hershey has reported stronger-than-expected results recently, having exceeded second-quarter sales and profit estimates in July. The company has also broadened its Halloween merchandise assortment to include a greater selection of salty snacks - examples cited by the company include popcorn, cheese puffs and pretzels - a move intended to appeal to health-conscious shoppers while expanding the seasonal offering.
What this means for stakeholders
The appointment of a finance chief from within the company's ranks signals continuity in financial leadership at a time when management points to resilient demand and pricing power. Hulays' background includes significant finance responsibilities across geographies as well as prior experience at Procter & Gamble in commercial and supply chain roles, which the company has highlighted in announcing the transition.