Jim Cramer Highlights Hershey’s Troubles

The Hershey Company (NYSE:HSY) is one of the stocks on Jim Cramer’s radar. During the episode, Cramer discussed the company’s management changes. He commented:

“If you really want overlooked, there’s the other side of the story, Hershey, down big yesterday and today. I get it. They’re losing the steady hand of CEO of Michele Buck and getting Tanner, who only spent about a year and a half at Wendy’s, where he departed. Even though Tanner originally had a consumer packaged goods background, he’d been in PepsiCo for 32 years before Wendy’s, it always raises eyebrows when a CEO flees a struggling company to work somewhere else in a hurry.

Plus, Tanner was the guy who brought dynamic pricing, where they jack up prices in periods of high demand to fast food. Well, that didn’t go down well. The other reason Hershey’s getting hit, if you were hoping for a takeover here, hiring this new CEO seems to take that off the table. It was a clarion call to sell. And if you didn’t get out when it was announced because you were busy paying only attention to the president, you may have caught a 14-point decline, and you want to avoid a 14-point decline all the time. That’s hazardous.”

A close-up of hands deftly moulding a bar of chocolate.

Hershey (NYSE:HSY) manufactures and sells a wide range of confectionery, snack, and pantry products under brands like Hershey’s, Reese’s, Kit Kat, SkinnyPop, and Dot’s Pretzels.

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Disclosure: None. This article is originally published at Insider Monkey.