When Michele Buck took the reins at The Hershey Company in 2017, she shattered a glass ceiling: becoming the first woman to lead the Fortune 500 chocolate giant in its 128-year history. Now, as she prepares to step down in 2026, Buck leaves behind a legacy that transformed Hershey from a candy maker into a global snacking powerhouse.
A Bold, Strategic Shift
Buck’s leadership pushed Hershey far beyond chocolate bars. Recognizing that consumer habits were evolving, she led acquisitions of brands like SkinnyPop popcorn, Dot’s Pretzels, and Pirate’s Booty. What started as small, calculated bets grew into a new revenue engine: today, salty snacks account for about 10% of Hershey’s $11 billion in annual sales.
“I wanted to ensure Hershey was not just competing, but leading in the future of snacking,” Buck explained in her Fortune exit interview. Her strategy wasn’t always smooth—early acquisitions stumbled—but she learned fast, sharpening Hershey’s criteria for future deals.
Balancing Tradition With Innovation
For Buck, chocolate remained sacred. Even while diversifying the portfolio, she reminded investors and consumers alike that Hershey’s heart beats in cocoa. “Chocolate provides emotional well-being,” she said, pointing to its enduring role as comfort food in stressful times.
Her balancing act—protecting tradition while innovating boldly—became a blueprint for how legacy brands can thrive in a modern economy.
Navigating Crisis and Challenges
Buck’s tenure also meant steering Hershey through storms. She faced rising cocoa prices, supply chain volatility, and shifting consumer demand in a health-conscious era. Each time, she pivoted: refreshing packaging sizes, expanding into gummies, and doubling down on marketing resilience.
Her ability to steady the company during turbulence is why Hershey remained one of the most profitable food brands during her leadership.
A Trailblazer for Women in Leadership
Of the Fortune 500, only about 55 women currently sit at the CEO table. Buck’s departure underscores how rare it still is to see women lead at the top of global corporations.
Her success is not only measured in revenue, but in symbolism. For women professionals and aspiring executives, she stands as proof that strategic vision and resilience can shatter barriers—even in industries historically dominated by men.
What’s Next
As Hershey’s board searches for her successor, Buck will remain as a senior advisor until mid-2026. What’s certain is that her influence will linger—both inside Hershey’s boardrooms and as a case study in business schools on how to reinvent a legacy company without losing its soul.
✅ Takeaway for CEO In Her readers:
Michele Buck’s story is a powerful reminder: leadership is not about fitting into the mold—it’s about rewriting the mold. Whether in food, tech, or any sector, women leaders can expand industries, diversify portfolios, and still stay true to their company’s roots.
