'Surprised and unsettled' as Hershey boss quits $10M/yr job
by Joseph N. DiStefano, Posted: May 18, 2011
"We are suprised and unsettled" to see David West quit his job as boss of Hershey Foods Corp., where he made $10 million last year, for a post running Del Monte Foods, Janney Capital Markets analyst Jonathan Feeney told investors in a report today. Hershey shares were down more than $2 on the news. Hershey statement here.
Feeney doesn't blame Westfor leaving, assuming "recently privatized Del Monte was able to offer" more money. But he'll miss West and his "enormous success in transforming a shrinking company into one of the best growth stories in food." Still, Feeney expects West lieutenant turned temporary (and likely permanent) replacement, J.P. Bilbrey, will "sustain" Hershey.
Posted: May 18, 2011 - 2:49 PM
Joseph N. DiStefano
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