Business Policy Case Studies Hershey Foods Company: Board of Directors and Stakeholders Conflict over Sale In 2002, the Hershey Trust Company owned 77% of the voting control over Hershey Foods, which had been offered two competing bids for purchase, one from Wrigley Jr. Company and one from Nestle and Cadbury- Shweppes joined together. Richard Lenny, the CEO of Hershey Foods, objected to the possibility of any sale and initially proposed a buyback of the Hershey Trust Company’s stock shares over the course of 3 to 5 years with a 10& premium added to the price. Robert Vowler , the CEO of the Hershey Trust Company refused and Lenny eventually rescinded the offer. When the potential sale became public knowledge, many in the company and...The end:
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