The Hershey Company Appoints Dave Hulays as Chief Financial Officer

Executive Leadership Transition Overview

On September 2, 2026, The Hershey Company announced the appointment of Dave Hulays as Senior Vice President, Chief Financial Officer and principal financial officer, effective immediately.

Mr. Hulays succeeds Steven E. Voskuil, who stepped down as CFO on September 2, 2026. Mr. Voskuil will transition into the role of Senior Vice President, Strategic Projects to support company initiatives and ensure a smooth handover until his planned retirement in the first quarter of 2027.

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Background of Dave Hulays

• Age: 54
• Tenure: With Hershey since March 2012; brings nearly 30 years of corporate finance experience, including 15 years at Procter & Gamble.
• Prior Roles at Hershey:
  • Senior Vice President, Finance (May 2025 – September 2026)
  • Vice President, Finance, CMG, International and Commercial (October 2024 – May 2025)
  • Vice President, U.S., Growth, Corporate Finance and Transformation (November 2023 – October 2024)
  • Vice President, Finance, U.S., Growth, Strategic Planning and Analysis (September 2019 – November 2023)

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Compensation Package

Pursuant to the Offer Letter entered into with the company:

• Base Salary: $725,000 per year.
• Annual Incentive Plan: Participation in the One Hershey Incentive Program under the Equity and Incentive Compensation Plan (EICP), with a target annual incentive of 85% of base salary prior to the appointment date, increasing to 100% of base salary thereafter.
• Long-Term Incentive Program (LTIP): Target annual equity award opportunity of $2,000,000.
• Severance & Retirement Benefits:
  • Executive Benefits Protection Plan 3A (severance of 24 months post-change-in-control or 18 months without change-in-control for qualifying terminations).
  • Defined Contribution Supplemental Executive Retirement Plan (DC SERP) contribution equal to 12.5% of base salary and annual incentive payout.