The Hershey Co. recently announced that John P. Bilbrey, President and Chief Executive Officer, will retire on July 1, 2017. Bilbrey has been with the company since November 2003, holding a variety of management positions before becoming the Chairman of the Board, President and CEO in April 2015.

“I have had the privilege of working in consumer packaged goods for more than 35 years and leading The Hershey Company has been the highlight of my career,” said Bilbrey. “Our iconic brands, remarkable employees and commitment to making a difference in the world has made this a difficult decision for me. But now is the right time to begin the process of handing over the reins as CEO as it will allow me to spend more time with my family and wonderful grandchildren.”

Hershey has appointed Pamela Arway, Chair of the Governance Committee, to lead a special committee in the search for the company’s new CEO. Both internal and external candidates will be reviewed for the position. 

Bilbrey will remain on Hershey’s board of directions as a non-executive chairman following his retirement next year.