Hershey Co. Appoints New CFO; Steven Voskuil to Strategic Projects

What Happened

• The Hershey Company (HSY) filed an 8-K on September 2, 2026 announcing that Dave Hulays has been appointed Senior Vice President, Chief Financial Officer, effective September 2, 2026. Hulays, age 54, has been with Hershey since March 2012 and most recently served as Senior Vice President, Finance (since May 2025). Steven E. Voskuil stepped down as CFO effective the same date and will remain with the company as Senior Vice President, Strategic Projects to manage key initiatives and transition responsibilities until his planned retirement in Q1 2027. The company also issued a press release on September 2, 2026 (Exhibit 99.1).

Key Details

• Annual base salary for Dave Hulays: $725,000.
• Annual incentive (One Hershey Incentive Program): target 85% of base salary until the effective date, 100% thereafter.
• Long-term incentive program (LTIP) target: $2.0 million.
• Severance/benefits: participation in Executive Benefits Protection Plan 3A (generally two years’ severance following a termination after a change in control; 18 months if not following a change in control) and DC SERP contribution equal to 12.5% of base salary plus One Hershey Incentive award.
• No family relationships or related-party transactions requiring disclosure; no outside arrangement reported relating to his selection.

Why It Matters

• This is an internal promotion to CFO, signaling leadership continuity in Hershey’s finance organization. The compensation and severance terms show how the company is aligning Hulays’ incentives with typical executive pay practices (salary, annual and long-term incentives, and retirement supplements). Investors should note the planned phased transition and Voskuil’s retained role through his retirement in Q1 2027, which may reduce near-term disruption in financial leadership. The filing and press release provide the official details for governance and executive compensation disclosure.