Dive Brief:
- The Hershey Co. announced that more than 25-year marketing veteran Peter Horst would be its new senior vice president, CMO effective July 27.
- Horst last served as senior vice president, brand marketing for Capital One Financial Corporation and CMO for Capital One Bank before that post.
- Horst is replacing Mike Wege, former CMO who will now be senior vice president, chief administrative officer and will remain as a member of Hershey's global leadership team.
Dive Insight:
With nearly three decades of experience serving in marketing posts, including several executive-level positions, for a variety of industries, Horst brings a unique breadth of knowledge and experience to Hershey. This includes experience in the food industry, as Horst previously worked with General Mills, Inc. as well. Horst will work with Hershey's new marketing agencies, Anomaly, New York; Barkley, Kansas City; and Argonaut, San Francisco, which the company added to the team in April, in addition to its original two agencies, Arnold Worldwide and Havas Worldwide.
In its last earnings report in April, Hershey said it was expecting full-year net sales to increase 4.5% to 5.5%, though in June, the company lowered that outlook to a 2.5% to 3.5% increase.
Hershey is expected to release its Q2 2015 earnings report on August 7.