Hershey Foods (HSY) Board Member James E. Nevels Announces Intention to Not Stand for Re-election

October 14, 2016 4:09 PM EDT

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The Hershey Company (NYSE: HSY) today announced that James E. Nevels, the company’s lead independent director, has informed the company that he does not intend to stand for re-election at the company’s 2017 Annual Meeting of Stockholders. Nevels, age 64, was elected to the Hershey Board of Directors in 2007 and served as non-executive chairman from 2009 until 2015. Nevels will continue to serve as lead independent director for the remainder of his term.

“It has been an honor to serve on the board of the greatest confectionery company in the world,” Nevels said. “I am fully confident that after nearly a decade of service, the time is right for me to move on to other pursuits. This decision provides the board with the continued opportunity to select diverse and experienced members who can help guide the company through its next phase of growth and consumer-centric brand building.”

“On behalf of the Board of Directors and the company, I want to express our sincere appreciation to Jim for his leadership, contributions and dedication to The Hershey Company,” said J.P. Bilbrey, Chairman, President and CEO of Hershey. “We have valued Jim’s perspective and insight over the years. Jim has been an important part of the company’s success and its reputation in the market as a company committed to bringing goodness to the world through its iconic brands, remarkable people and community engagement.”

The company expects to hold its 2017 Annual Meeting of Stockholders on May 3, 2017.

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