Cadbury Adams Brands

Hershey Said to Be Considering Ex-Cadbury CEO Todd Stitzer for Board Seat

Hershey Co. (HSY), the manufacturer of kisses and Reese's Peanut Butter Cups, held talks with former Cadbury Plc Chief Executive Todd Stitzer to take a seat on the board, according to people with knowledge the issue.

Acting Chief John Bilbrey is the favorite for the post of CEO, if Stitzer is also considered for the role, said three people, who requested anonymity because the matter is private. Hershey plans to appoint a permanent chief by the end of June, the people said.The board of directors and executive committee handling the search for CEO meetings scheduled next week, one person said.

"Getting someone like Stitzer head could be a plus, given its extensive experience to Cadbury," said Erin Lash, an analyst with Morningstar Inc. in Chicago. The experience of the executive may be particularly useful as Hershey extends beyond the United States, which represents the bulk of its sales, "she said.

Chairman James Nevels Stitzer first spoke about joining Hershey's board several months ago, one of the people said.One possibility would be to join the board Stitzer Hershey Bilbrey and mentor, the person said. Bilbrey, who was at the Pennsylvania-based company for eight years, came after David West passed away last month at the head of Del Monte Foods Co.

"The board is committed to conducting effective research, quick and confidential, the result will be shared in due time," board of Hershey said in an e-mailed statement. "It does not work within a specified ".

efforts to attract Hershey's Stitzer has continued in recent weeks, the people said.The executive, who spent nearly three decades Cadbury left in 2010, after Kraft Foods Inc. (KFT) bought the company for more than $ 20 billion. Stitzer already spoken with Hershey about a possible acquisition of Cadbury as a way to deal with Kraft, people said at the time.

Since leaving Cadbury, Stitzer, 59, has played a role on the advisory council of Hamlin Capital Management LLC, an investment company based in New York advisory catering to wealthy individuals and institutions, according to its website. Cadbury, he oversaw more than 40 operations, including $ 4.2 billion purchase of chewing-gum manufacturer Adams Inc.in 2003.

Stitzer did not return messages left at Hamlin Capital. Kirk Saville, a Hershey spokeswoman, declined comment.

The new chief will oversee Hershey's push into developing countries like China, which is part of efforts to stimulate growth beyond its home turf of the United States. Bilbrey, promoted chief operating Hershey last year, was elevated to interim CEO at the exit of the West, and the directors said they would move quickly to appoint a permanent successor.

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