Hershey (NYSE:HSY) says CEO Michele Buck was elected by the board to be the chairman of the company as well.

Buck succeeds Chuck Davis who will reassume the role of lead independent director, a role he held from May 2017 until his appointment as chairman in May 2018.

The board says the combination of the offices of CEO and chairman underscores its confidence in Hershey, the existing management team and Buck.

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