Hershey's Company Financial Plan
Company Background
1.1 Company History
Milton S Hershey, an American confectioner and philanthropist, created The Hershey Company in 1894, which was located Lancaster, Pennsylvania. Currently, the Hershey Company distributes its’ products in more than ninety international countries and is the largest producer of chocolate and sugar confectionary items, including Jolly Rancher and Ice Breakers.
1.2 Management
Organizational Chart Job Descriptions
• Chief Executive Officer: Currently, John P. Bribley is the Chief Executive Officer of The Hershey Company. Bribley is expected to oversee all senior management positions, as well as frequently report to the Board of Directors.
• Global Management Team: Contains eight members, including the Chief Administrative Officer and senior vice presidents of Hersheys’ subsidiaries.
• Board of Directors:
• Audit Committee: Their duty is to assist the board of directors with the integrity of Hershey’s financial statements, the firm’s compliance with legal requirements, and to prepare the annual proxy statement required by the Securities and Exchange Commission.
• Compensation and Executive Organization Committee: This group must oversee the establishment and maintenance of Hershey’s incentive and compensation programs, and develop and implement a plan for the company’s management positions.
• Governance Committee: They select members of the board and provide the directors with a set of corporate governance guidelines.
• Finance and Risk Management Committee: This committee must manage the responsibilities of the company’s assets, liabilities, and risks.
• Executive Committee: Chairmen of the previously stated committees create this group. They are responsible for integrating corporate information to enhance communication within the various departments.
Note: Page one in the index displays a visual management structure chart for the Hershey Company.
1.3 Primary Lines of Business
Note: Page one in the index displays
1.1 Company History
Milton S Hershey, an American confectioner and philanthropist, created The Hershey Company in 1894, which was located Lancaster, Pennsylvania. Currently, the Hershey Company distributes its’ products in more than ninety international countries and is the largest producer of chocolate and sugar confectionary items, including Jolly Rancher and Ice Breakers.
1.2 Management
Organizational Chart Job Descriptions
• Chief Executive Officer: Currently, John P. Bribley is the Chief Executive Officer of The Hershey Company. Bribley is expected to oversee all senior management positions, as well as frequently report to the Board of Directors.
• Global Management Team: Contains eight members, including the Chief Administrative Officer and senior vice presidents of Hersheys’ subsidiaries.
• Board of Directors:
• Audit Committee: Their duty is to assist the board of directors with the integrity of Hershey’s financial statements, the firm’s compliance with legal requirements, and to prepare the annual proxy statement required by the Securities and Exchange Commission.
• Compensation and Executive Organization Committee: This group must oversee the establishment and maintenance of Hershey’s incentive and compensation programs, and develop and implement a plan for the company’s management positions.
• Governance Committee: They select members of the board and provide the directors with a set of corporate governance guidelines.
• Finance and Risk Management Committee: This committee must manage the responsibilities of the company’s assets, liabilities, and risks.
• Executive Committee: Chairmen of the previously stated committees create this group. They are responsible for integrating corporate information to enhance communication within the various departments.
Note: Page one in the index displays a visual management structure chart for the Hershey Company.
1.3 Primary Lines of Business
Note: Page one in the index displays