Hershey has named former PepsiCo executive Kirk Tanner as its new president and CEO to succeed Michele Buck, who had announced her intention to retire in June next year. Tanner, who is president and CEO of the fast-food chain Wendy's,

Amid Wendy's grappling with muted sales, CEO Kirk Tanner has decided to leave the company to join chocolate giant Hershey.

Wendy's CEO Kirk Tanner has been appointed to replace Michele Buck, to lead Hershey starting on August 18 on Tuesday.