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The Hershey Company Announces Bryon Klemens, Vice President Business Development, Will Lead Treasury and Investor Relations

Posted on: Monday, 24 October 2005, 09:00 CDT

HERSHEY, Pa., Oct. 24 /PRNewswire-FirstCall/ -- The Hershey Company today announced that Bryon Klemens, Vice President, Business Development, will lead the company's treasury and investor relations functions.

Klemens, who reports to David J. West, Senior Vice President, Chief Financial Officer, will continue to have responsibility for identifying merger and acquisition opportunities. Klemens and his team will assume responsibility for investor relations in early 2006 upon the retirement of Jim Edris, Vice President, Investor Relations. The company will conduct a search to replace Edris.

"Bryon has an excellent knowledge of our business and strategy, coupled with experience in our selling organization," West said. "He will continue to articulate our value-enhancing strategy to shareholders as we build on our strong relationships with the investment community. In addition, we have transitioned the treasury area into Bryon's group to allow Hershey to better leverage relationships with commercial and investment banks."

Edris joined Hershey in 1976 as Manager, Public Information. He was named Manager, Financial Information, in 1980, and Director, Investor Relations, in 1986.

"I want to thank Jim for his vast contributions to Hershey over his 30- year career with the company," West said. "He built outstanding relationships with the financial community and played a leading role in telling Hershey's story to investors and shareholders, ensuring that the company's strategy was effectively communicated."

The company also announced that Rosa Stroh has been named Vice President, Treasurer. Stroh, who will report to Klemens, brings 23 years of experience in the treasury function at Hershey to her new position. Stroh, previously Assistant Treasurer and Director, Cash Management, succeeds Robert J. Mazzoni Jr., Vice President, Global Sourcing and Treasurer, who is retiring at the end of the year.

"Rosa is an outstanding leader with experience in all aspects of the treasury function," West said. "She will be responsible for managing our corporate liquidity, implementing the appropriate capital structure and managing the financial risks of the company. Rosa will also manage our relationships with commercial banks, pension managers and insurance providers."

Mazzoni joined The Hershey Company in 1971. He was named Vice President, Global Sourcing, in 2002 and was appointed Treasurer in 2003. "I want to thank Bob for his dedication and commitment to The Hershey Company," West said. "Bob has done an outstanding job in building a world-class risk management and procurement function that has enabled the company to manage its costs and asset base and to deliver profitable growth."

Klemens joined The Hershey Company in November 2001 as Director, Business Planning and Development. In January 2002, he was appointed Vice President, Corporate Development. In this role, he directed the company's acquisition and divestiture program and assisted in the strategic planning and competitive intelligence processes. Klemens was named Vice President, Sales Planning/Analysis in January 2003. He was responsible for the Sales Technology and Sales Systems and Reporting departments.

Before joining Hershey, Klemens was Director of Business Planning, Nabisco Holdings Corporation, Parsippany, N.J. In this position, Klemens was responsible for financial benchmarking and strategic planning. Prior to Nabisco, Klemens spent over 15 years in the securities, insurance and investment banking industries with New York Life and the Westheimer Company. Klemens has a MBA in finance from Fordham University in New York and a bachelor's degree in economics from the University of Delaware.

Stroh joined The Hershey Company in 1982 as Senior Treasury Analyst, Pension Asset Management and held a variety of positions in the Treasury Department. Prior to joining Hershey, Stroh was an International Lending Officer for The Hamilton Bank and previously had worked as Credit Officer in the banking industry.

Stroh holds a bachelor's degree in business administration from Bloomsburg University and a master's degree in business administration from The Pennsylvania State University. She is a member of the National Association of Corporate Treasurers and the National Association for Financial Professionals.

About The Hershey Company

The Hershey Company is a leading snack food company and the largest North American manufacturer of quality chocolate and non-chocolate confectionery products. With revenues of over $4 billion and more than 13,000 employees worldwide, The Hershey Company markets such well-known brands as Hershey's, Reese's, Hershey's Kisses, Kit Kat, Almond Joy, Mounds, Jolly Rancher, Twizzlers, Ice Breakers, and Mauna Loa, as well as innovative new products such as Take 5 and Hershey's Cookies. In addition to its traditional confectionery products, Hershey offers a range of products specifically developed to address the nutritional interests of today's health-conscious consumer. These products include sugar-free Hershey's, Reese's and York candies, as well as Hershey's SmartZone bars for people seeking balanced nutrition. It also markets Hershey's cocoa, Hershey's syrup and other branded baking ingredients, toppings and beverages.

In addition, Artisan Confections Company, a wholly owned subsidiary of The Hershey Company, markets premium chocolate offerings, including Scharffen Berger, known for its high-cacao dark chocolate products, and Joseph Schmidt, recognized for its fine, handcrafted chocolate gifts. Visit us at http://www.hersheynewsroom.com/.

Safe Harbor Statement

This release contains statements which are forward-looking. These statements are made based upon current expectations which are subject to risk and uncertainty. Actual results may differ materially from those contained in the forward-looking statements. Factors which could cause results to differ materially include, but are not limited to: the Company's ability to implement and generate expected ongoing annual savings from the program to advance its value-enhancing strategy; changes in the Company's business environment, including actions of competitors and changes in consumer preferences; customer and consumer response to selling price increases; changes in governmental laws and regulations, including taxes; market demand for new and existing products; changes in raw material and other costs; pension cost factors such as actuarial assumptions, market performance, and employee retirement decisions; and the Company's ability to implement improvements to and reduce costs associated with its supply chain, as discussed in the Company's Annual Report on Form 10-K for 2004.

The Hershey Company

CONTACT: Stephanie Moritz, The Hershey Company, +1-717-534-7641

Web site: http://www.hersheys.com/http://www.hersheynewsroom.com/

Source: PRNewswire-FirstCall

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