Hershey Stock In Focus On CEO Michele Buck’s Departure: Retail Sentiment Slips

Shares of the Hershey Co. came under pressure after the company said its president and CEO Michele Buck plans to retire effective June 30.

Buck will transition to a senior advisor role until her retirement, the company said in a statement.Hershey’s board has appointed a special committee to direct the search for the company's next CEO.

"It has been the pinnacle of my career to lead Hershey, a truly one-of-a-kind company. Our team has created one of the strongest and most recognizable snacking portfolios in the industry and I am immensely proud of what we have accomplished," said Buck. “This year will be my 20th at Hershey and as we embark on a new year, I believe now is the right time to formally activate our succession planning and begin the transition to Hershey's next leader."

Retail sentiment on Stocktwits fell to ‘neutral’ from ‘bullish’ a week ago. Message volumes were in the ‘high’ zone.

One commenter was optimistic about the value the company represented, while another was hopeful of profiting from a stock price dip.

Recently, confectionery company Mondelez International ($MDLZ) launched a takeover bid for Hershey. That was rejected by the Hershey trust.

Hershey has more than 90 brand names in about 80 countries that drive more than $11.2 billion in annual revenues, including Hershey's, Reese's, Kisses, Kit Kat, Jolly Rancher, Twizzlers and Ice Breakers.

Hershey's stock is down 6.95% year-to-date.

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