Mr. Malcolm brings to the Board significant experience in emerging markets and in the marketing and sales of consumer products, including consumer-packaged goods and fast-moving consumer goods. INRAE center Clermont-Auvergne-Rhne-Alpes In making its independence determinations with respect to Ms. Koken and Messrs. Brown and Katzman, the Board considered their roles as current members of the board of directors of Hershey Trust Company and the board of managers (governing body) of Milton Hershey School, as well as certain transactions the Company had or may have with these . Vice President, General Counsel and Corporate Secretary, Provident Mutual Life Insurance Company Another year would pass before the community was officially named, when the United States Postmaster granted Milton Hershey permission to establish a new post office. To now serve as Chairman of the Board of Managers of MHS and the Board of Directors of Hershey Trust Company (HTC) has been one of the greatest honors of my life. Hershey Trust Company Announces Sale of Hershey Company Common Stock Hershey Trusts mortgage business was more than a financial transaction. in 1951). The Hershey Company is headquartered in . In addition to his overall leadership experience, Mr. Perez brings significant strength in the areas of supply chain management and logistics, digital technology, information security, innovation and data analytics to the Board. Executive Vice President, Corporate Development & Strategy, Bioclinica, Inc. Milton Hershey School does not discriminate in admissions or other programs and services on the basis of race, color, national or ethnic origin, ancestry, sex, religious creed or disability. Education: Though the chocolate factory began operations during the summer of 1905, little else was operating in town. Pay Rank By Title In MFG Nondurable industry. A.B., Mathematics and Business Administration, Wittenberg University, Appointed: Director 2014 Still, in 1905 Milton Hersheys town was more of an idea than an actuality. But there are precious few poor white orphans living near Hershey chocolate factories today. During the Great Depression Milton Hershey realized that young men and women just graduating from high school had limited opportunities for employment. Check out this great segment on Reese's Peanut Butter Cups, including archival materials from our collections! For further information, call (717)520-1100 or send an email info@hersheytrust.com. About Milton Hershey School Milton Hershey School is one of the world's best private schools, offering a top-notch education and positive home life to children in pre-kindergarten through 12th grade from families of lower income at no charge. I am grateful each day that I have the privilege to give back to the school that gave me everything. Hershey Foundation as the conduit for a $50 million gift from the Milton Hershey School Trust to Pennsylvania State University for a medical school and teaching hospital known asThe Milton S. Hershey Medical Center. Chief Financial Officer of Accelerated Enrollment Solutions, a business unit of Pharmaceutical Product Development LLC It assumed operation of the Hershey Theatre in 1970, Hershey Museum in 1981 and the Hershey Gardens in 1989. HERSHEY, Pa., Jan. 9, 2023 /PRNewswire/ -- The Hershey Trust Company (HTC) Board of Directors and the Milton Hershey School (MHS) Board of Manager. She is currently the Chief Financial Officer of Wedgewood Pharmacy. Management of the Milton Hershey School Trust was so good that income generated often outpaced the Schools needs. Previously, the company paid $1.04 per share. Highlights: Ms. Marsh is the former Chief Investment Officer and Treasurer of the University of Pittsburgh where she was responsible for managing the financial assets and liabilities of the University and its endowment. The community of Hershey remained an enduring passion for Milton Hershey throughout his life. Hershey said on April 25, 2023 that its board of directors declared a regular quarterly dividend of $1.04 per share ($4.14 annualized). He held the position of President and Chief Operating Officer, Healthcare, Education and Business Dining, at Aramark Corporation, a global provider of food, facilities and uniform services, from September 2012 to October 2018. Dec 11, 2020. www.tiogapublishing.com . In the ongoing series The Sweetest Thing, TODAY gets rare access to find out how the iconic Reese's Chocolate Peanut Butter Cups are made. Form 8K- Hershey Trust Agreement - SEC After graduating from MHS and Bloomsburg University in 1992, he became an entrepreneur and self-taught programmer and started a series of internet companies, including MyCoupons. Pennsylvania attorney general announces Hershey trust reform deal Board of Directors - Hershey Trust - Founded in 1905 by Milton S. Hershey Board of Directors Jan L. Bergen Appointed: Director 2017, Vice Chair 2017-2020 Highlights: Ms. Bergen is a well-known and highly regarded health care executive who is the recently retired President & Chief Executive Officer of Penn Medicine Lancaster General Health. President and Chief Executive Officer, Bryn Mawr Rehab, Jefferson Health System Wolfe, LLC Founder and CEO, Jason Wolfe, recently elected to The Chief Investment Officer and Treasurer, University of Pittsburgh Prior to that position, Mr. Malcolm spent 24 years at The Procter & Gamble Company in various leadership positions, including as Vice President General Manager Beverages, Europe, Middle East and Africa, and Vice President General Manager, Arabian Peninsula. Hershey Trust Company - Wikipedia John was appointed a Director of the company in June 2017, and elected Chairman of the Board in September 2019. Hershey (HSY) Declares $1.04 Dividend - fintel.io As banking laws evolved in the 1970s and 1980s the tradition of small independent banks gave way to expansions and mergers. Jason Wolfe enrolled at Milton Hershey School at the age of 11. Wrigley Jr. Company, including as Group Vice President and Managing Director, North America. The Junior College maintained high academic standards and helped hundreds of Hershey residents receive a college education. Ms. Bergen has served on numerous community, philanthropic, and health care related boards, and currently serves on several non-profit boards as well as a corporate board and the prestigious American Hospital Association Foster G. McGaw Prize Committee. Joshua Shannon is a Vice President, Investment Officer, Public Market Equities at Hershey Trust based in Hershey, Pennsylvania. Ms. Koken was appointed to the Hershey Trust Company Board of Directors and the Milton Hershey School Board of Managers in 2016 and has expertise in legal, regulatory matters, insurance, governance, and risk management. This fund, created with the remainder of his estate, helped relieve the tax burden of maintaining the Townships public schools. Harold holds an M.B.A. in finance from the University of Chicago, a Bachelor of Science in chemical engineering from the Illinois Institute of Technology and is a chartered financial analyst. Board of Directors & Treasurer at The Vista School . As Chief Financial Officer for Sleep Number Corporation, Ms. Schoppert gained extensive experience leading all finance functions, including financial planning and analysis, accounting, tax, treasury, investor relations, decision support and IT. Ms. Marsh is currently a director of the Pittsburgh Foundation and vice chair of its investment committee, and she is a member of the investment committees for the boards of the Claude Worthington Benedum Foundation and the Pittsburgh Symphony Orchestra. Earlier in his career, Harold was executive director at UBS Global Asset Management. Tommy and Me is the story of Hall of Famer and Philadelphia Eagles wide receiver Tommy McDonald. His familiarity with policy and operations of government and his experience as an investor in and director of both public and private companies bring value to the Boards. Her knowledge of and ability to analyze the overall consumer-packaged goods industry, evolving market dynamics and consumers relationships with brands make her a valuable contributor to the Board and the Company. B.S., Accounting, Pennsylvania State University, Appointed: Director 2019 It seeks to balance the need to preserve open land while accommodating a real need to provide for the growth and development necessary to remain a healthy community. Enthusiastic about the mission, she serves as a role model for future generations of students. His background aligns with accountable philanthropy and the mission of preserving Mr. and Mrs. Hersheys legacy. Office of Attorney General reaches agreement with Hershey Trust Company The Board of Managers was established by Milton and Catherine Hershey in 1909 as the Milton Hershey School governing body. Executive Director, UCLA School Management Program M.Ed., Educational Leadership and Elementary Education, Florida A&M University "The Board is established to carry out the lasting legacy of our founders. In 1938, the Foundation endowed the Hershey Junior College, offering tuition free higher education to all Derry Township residents and employees of the Hershey corporations. . Ms. Haben is the former President, North America, of Wm. When Catherine and Milton Hershey created the Deed of Trust establishing the Hershey Industrial School (now Milton Hershey School), Hershey Trust Company was appointed trustee for the School. Prior to founding TropicSport, Mr. Palmer held key leadership positions at Kimberly-Clark Corporation, a multinational personal care company, including serving as President, Global Brands and Innovation, from April 2012 to April 2019. As the surplus income fund grew, the Board confronted the dilemma of earning too much money, and how to best use excess funds to serve Milton Hersheys legacy of providing for others. He previously served as Vice President and Chief Operating Officer and held other leadership positions in the Entertainment division . The Hershey Trust Company (HTC) Board of Directors and the Milton Hershey School (MHS) Board of Managers announced today the recent election of three new Directors/Managers: Michelle Figlar, Harold Singleton III, and Jason Wolfe. For more than 15 years, Ms. Koken has also served as a legal/regulatory consultant. He named the Hershey Trust Company as administrator of the school trust. Hershey Foods FIN MGT CASE.docx - Course Hero Jason later built Direct Response Technologies, Inc., an affiliate tracking platform which scaled to 12 billion monthly transactions. His leadership roles at Hershey have included Chief Talent Officer and Vice President, HR Business Partner of Global Functions as well as Senior Director, HR Business Partner of Global Supply Chain. Los Angeles Regional Director, Sylvan Learning Systems Mr. Crawford contributes to the Board through his broad range of experience in digital transformation, fast moving consumer goods, logistics and supply chain management, as well as his valuable insights in emerging markets, consumer retail and finance. Chief of Staff to U.S. As one of three representatives of Hershey Trust Company and Milton Hershey School currently serving on the Board. Earlier in his career, Harold was executive director at UBS Global Asset Management. Wolfe, LLC, a global leader in gift card fulfillment, is pleased to announce its Founder and CEO, Jason Wolfe, was recently elected to The Hershey Trust Company Professional Experience: Today a 17-member board headed by president and chief executive officer, Robert Vowler, manages the . Appointed: Director 2023 By his Will, Mr. Hershey gave the stock of the Hershey Trust Company to the School Trust. As the trustee of most of Derry Townships undeveloped land,Hershey Trust Companyis committed to limited development, maintaining most of its holdings as farmland and open space. At the heart of the fertile land of Limagne and the pastures of the Massif Central, the Clermont-Auvergne-Rhne-Alpes Centre is one of the institute's historic sites, with cutting-edge research in key sectors of agriculture, environment and food: preventive human nutrition, cereals, product quality, territories, livestock farming, robotics applied to agriculture, tree functioning, etc. His familiarity with policy and government operations, as well as his experience as an investor in, and director of, both public and private companies, make him an important addition to the Board on matters of finance, government relations, strategy and risk management. Directors: Jane Cooper Sheila E. Dow-Ford Richard A. Harvey Eric Henry Jeffrey W. Jones . Ms. Kraus was elected to the Boards in 2018 and brings an extensive background in finance, strategy, and corporate development. The Trust Company continued to maintain offices in the Bank/Trust building at the corner of Chocolate and Cocoa Avenues. Board of Hershey Trust Company and Milton Hershey School, Deputy Chair and . Mr. Crawford is currently the Chief Executive Officer, Pharmaceutical Segment, of Cardinal Health, Inc., a global healthcare services and products company, a position he has held since November 2018. Ms. Koken had accountability for and expanded the Childrens Health Insurance Program. In re Milton Hershey School, 867 A.2d 674, 678 (Pa.Cmwlth.2005) (quoting Deed of Trust, November 15, 1909, at 12-13). Boards of Hershey Trust Company and Milton Hershey School Elect Three It's a non-profit organization set up by the company's founders. She is a recipient of the Milton Hershey School Alumni Career Achievement Award. Public Company and Other Key Directorships. Eight directors ran up an $18,000 tab for a weekend board meeting last June at New York's Waldorf-Astoria hotel, according to internal records . Senior Vice President, Business Development, General Electric Senator Robert P. Casey, Jr. Co-Founder and Chief Executive Officer, Carry1st The Hershey Trust Company is an American corporation incorporated on April 28, 1905, by Milton S. Hershey, Harry Lebkicher and John E. Snyder. B.A., Political Science, Stanford University, Appointed: Director 2018 Hershey Foundation, and endowed it with 5000 shares of Hershey Chocolate Corporation stock. Ms. Schoppert is the former Executive Vice President and Chief Financial Officer of Sleep Number Corporation, a bedding manufacturer, marketer and retailer, a position she held from June 2011 until her retirement in February 2014. Today the so-called Milton Hershey School Trust has an eye-popping $12bn in assets. Iron Mountain Incorporated (May 2014 to present), Bachelors degree in languages from Memorial University of Newfoundland, Masters of Business Administration degree from Queens University, Kingston, Ontario, Canada, FS Credit Real Estate Income Trust (December 2021 to present), FS Multi-Strategy Alternatives Fund/FS Series Trust (August 2017 to present), FS Investment Corporation III (February 2016 to December 2018), Juris Doctor degree from the University of Virginia Law School, New York Life Insurance Company (November 2013 to present), Bachelors degree from Shippensburg University of Pennsylvania, Masters of Business Administration degree from the University of North Carolina, Board of Trustees, National Urban League (October 2010 to present), Dave & Busters Entertainment, Inc. (August 2016 to June 2020), Bachelor of Science in accounting from Boston College, Pitney Bowes, Inc. (July 2018 to present), Raymond James Financial, Inc. (October 2018 to present), Tech Data Corporation (October 2006 to June 2020), Bachelor of Science in Industrial Labor Relations from Cornell University, Grocery Outlet Holding Corp. (November 2019 to present), Trustee of Equity Residential (July 2011 to present), Bob Evans Farms, Inc. (August 2012 to January 2018), Masters of Business Administration degree in marketing from the University of Michigan, Ross School of Business, Brinker International, Inc. (January 2018 to present), Masters of Business Administration degree from Columbia University Graduate School of Business, Nationwide Mutual Funds and Nationwide Variable Insurance Trust (April 2019 to present), Capital BlueCross (December 2011 to present), Nationwide Mutual Insurance Company; Nationwide Mutual Fire Insurance Company; Nationwide Corporation (April 2007 to present), Juris Doctor degree from Villanova University School of Law, Boston Consulting Group (senior advisor) (December 2012 to present), Bachelors degree in marketing from the University of Southern California, Masters of Business Administration degree in marketing from the University of Southern California, Bachelors degree in business from Monash University in Melbourne, Australia, Masters of Business Administration degree, with distinction, from the International Management Institute, Geneva, Switzerland, Bachelor of Science in industrial and systems engineering from the University of Southern California, Masters of Science in computer and manufacturing from the University of Southern California, Bremer Financial Corporation (May 2017 to present), Gaia, Inc. (formerly Gaiam, Inc.) (October 2013 to December 2018), Bachelor of Arts in mathematics and operations research from Cornell University, Masters of Business Administration in finance and general management from Cornell University. Ed.D., Education Policy and Leadership, Southern Methodist University Hershey created a deed of trust establishing a trust fund for the school. With the establishment of the Hershey Bank, the Trust Company could now focus its efforts on trust and related businesses. What's not to love? Lyon is France's third-largest city and a major tourist destination. She previously served as the vice president of learning at The Heinz Endowments and the deputy secretary of the Pennsylvania Office of Child Development and Early Learning where she helped set policy and practice for publicly funded early childhood education throughout the state. Boards of Hershey Trust Company and Milton Hershey School Elect Three #24 View more. [3] In 1909, when Hershey founded the Milton Hershey School, Hershey appointed the Trust as administrator of the school trust. Hershey (HSY) Declares $1.04 Dividend | Nasdaq Board of Directors | The Hershey Company [6] One particular issue was the purchase of the Wren Dale Golf Course, in which the Hershey Trust overpaid for the property, to the benefit of board members who were both owners of the Wren Dale Golf Course and on the Hershey Trust board. Milton Hershey School is one of the world's best private schools, where qualifying pre-kindergarten through 12th grade students live on campus and receive an exceptional education with top-tier classes and facilitieswith all costs covered throughthe trust left by founders Milton and Catherine Hershey. Special Assistant to the President, Board of Education of the city of New York I am proud that, as Vice Chair, my education and expertise can be used to advance the school that served as my home.". At that time, Hershey Chocolate Company consisted not only of the Chocolate factory, but all of the Hershey enterprises including the Hershey Improvement Company, the Hershey utilities (water, sewer, electric, phone), the Hershey Transit Company, the Hershey Department Store, the Greenhouse and Nursery, and the Hershey Inn. By 1981, Hershey Trusts ownership of Hershey Foods Corporation had shrunk to 50.1%. The agreement comes after published reports that the trustees had spent more than $3.6 million in legal fees investigating whether two of . In May 2021, our Board of Directors approved an additional $500 million share repurchase authorization. Board of Directors :: WisdomTree, Inc. (WT) She also held a succession of leadership positions in her 27-year career at Kraft Foods, Inc., a grocery manufacturing and processing conglomerate. Throughout her career, Ms. Haben gained extensive experience managing businesses in the consumer-packaged goods industry and developed a track record of growing brands and developing new products. Education: Hershey Trust Company quickly became the towns financial center, playing an important role in financing Milton Hersheys construction and development plans. Hershey Trust holds 58,112K shares representing 28.44% ownership of the company. He is a Trustee of the Boys & Girls Clubs of the Valley (AZ), a Trustee of the San Francisco Ballet, a member of the Presidents Leadership Council at Dartmouth College, and a member of the Advisory Board of the Program for Financial Studies at Columbia Business School, where he guest lectures on financial topics. In order to provide as much benefit to the community as possible, it has never sought a change in the original trust agreement calling for a yearly fee of $1,000 to be paid to the trustee. Highlights: Ms. English is the former President and Chief Executive Officer of Fight For Children, a highly visible Washington, D.C.-based nonprofit that improves education opportunities for low-income children. Hershey Trust Companys decision to actively seek private trust business grew out of changes resulting from the 1984 restructuring of Hershey Foods (now The HersheyCompany)stock. Hershey, PA 17033 (Address of principal executive offices) (Zip Code) (717) 534-4200 (Registrant's telephone number, including area code) . The MS Hershey Foundation Board of Managers are chosen from the Trust Company's board. Highlights: Ms. Kraus has more than 25 years of experience and leadership in finance, strategy, and corporate development. As Layla Dylani settled into her seat for the flight home, the complexity of her position was top of mind. Masters-level course work in Business and Social Work, The University of Pennsylvania, Temple University, and Harvard University, Appointed: Director 2016 "Michelle brings a lifetime of experience and commitment to early childhood education which will be crucial in the launch of Catherine Hershey Schools for Early Learning. Hershey Foundation Trust, and the Hershey Cemetery Trust. Hershey Foundation and the Hershey Cemetery Perpetual Care Trust. As the Trust Company assumed these new responsibilities, it became apparent that the town needed a new financial institution to provide the more traditional banking services for the community. Since 1909, MHS has achieved its mission of breaking the cycle of poverty. Hershey Entertainment and Resorts Company - Wikipedia Chief Schools Officer, KIPP Jacksonville Schools in Chemical . HERSHEY, Pa., Dec. 11, 2020 /PRNewswire/ -- The Hershey Trust Company Board of Directors and the Milton Hershey School Board of Managers announced the election of Diane Koken as Chairman. Previously, he served as vice president, managing director/head of manager selection and portfolio construction, at Lincoln Financial Group, overseeing a $200 billion investment platform covering all asset classes. He had the foresight to recognize that if his chocolate making idea was to work for the benefit of all, he would need a place for his workers to live self-reliant, independent lives. The Trust Company excelled in its responsibility and stewardship of those trust funds. Mr. Brown provides valuable perspectives as a representative of our largest stockholder and the school that is its sole beneficiary. The Depression of the 1930s was a time of significant financial hardship for all of the United States. HERSHEY, Pa., Dec. 11, 2020 /PRNewswire/ --The Hershey Trust Company Board of Directors and the Milton Hershey School Board of Managers announced the election of Diane Koken as Chairman and Maria Trinh Kraus as Vice Chairman, effective today. Ed.M., Leadership, Policy, and Reform, Harvard Graduate School of Education Urban was responsible for all of Hersheys major buildings designed before 1926, including the original factory and offices, the original Hershey Inn, the first Hershey Department Store building, the Community Building and High Point. The foundation's chartered purpose was to provide educational and cultural opportunities to the citizens of Derry Township. We grew . Director since May 2017. The Hershey Trust Company, then owned by Mr. Hershey, was and still is the trustee of the School Trust and, as directed in the trust deed, the members of the Board of Directors of the Hershey Trust Company also serve as the Board of Managers of the School. This page is not available in other languages. Edwards & Co., Inc. Having spent most of his career in the technology industry, Mr. Dutkowsky brings to the Board broad operational experience and a deep understanding of the technology industry and how technology and digital capabilities drive growth and resiliency. The floor plan was designed to offer separate office space for other Hershey businesses. To broaden its accessibility, special deposit stations were established on Hershey trolleys. Board of Managers - Milton Hershey School Boards of Hershey Trust Company and Milton Hershey School Elect Three Commissioner, Pennsylvania Department of Insurance Chief Financial Officer, Wedgewood Pharmacy In particular, the Trust Company assumed responsibility for Milton Hersheys land assets, by then more than 10,000 acres of land in and around Hershey as well as his other financial investments. The decision to establish a trust company rather than a bank was made after Milton Hershey sought advice from the Northern National Bank of Lancaster, Pennsylvania. MHS Class of 1987 She currently serves on the Board of Directors of FTAC Athena Acquisition Corp. (NASDAQ: FTAA), a SPAC, since February 2021, and Nuvei Corporation (TSX: NVEI and NVEI.U), a global payment technology provider, since August 2020. . At about the same time, in an unrelated investigation, John Estey, former chief of staff to Governor Ed Rendell and a high-ranking executive of the company, was charged with wire fraud, having pocketed $13,000 that an FBI sting operation had given to him in an investigation into illegal lobbying of legislators.[13][14]. Appointed: Director 2017MHS Class of 1991 That same year Milton Hershey established Hershey Trust Company to serve as the communitys bank in accommodating its financial needs. Among the allegations regarding the misuse of funds include the Trust's purchase of an .
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