hershey trust company board of directors

Professional Experience: Grenoble, the Auvergne-Rhne-Alpes, France Lat Long Coordinates Info. concerns for the future of Derry townships' youth, Milton Hershey established the M. S. Hershey Foundation and again appointed the Hershey Trust Company as trustee. Chief Financial Officer of Accelerated Enrollment Solutions, a business unit of Pharmaceutical Product Development LLC Ms. Koken served as a previous president of the National Association of Insurance Commissioners. Ms. Arway is the former President, Japan/Asia Pacific/Australia Region, of American Express International, Inc., a global payments, network and travel company, a position she held from October 2005 until her retirement in January 2008. Visit Lyon. In re Milton Hershey School, 867 A.2d 674, 678 (Pa.Cmwlth.2005) (quoting Deed of Trust, November 15, 1909, at 12-13). And in keeping with the tradition of other local financial institutions, the original board of directors was comprised of respected local business and community leaders. The charts on this page feature a breakdown of the total annual pay for the top executives at HERSHEY CO as reported in their proxy statements. In May 2021, our Board of Directors approved an additional $500 million share repurchase authorization. Given her background, Dr. Peeples-Fullmore has unique insights into the educational and social issues that face the students of Milton Hershey School. Joshua Shannon is a Vice President, Investment Officer, Public Market Equities at Hershey Trust based in Hershey, Pennsylvania. Hershey Trust Companys move to High Point in 1991 provided them with much needed spacefor their expanded staff. An alumna of Milton Hershey School, Dr. Peeples-Fullmores connection to the Hershey legacy runs deep. We grew . The role of Hershey Trust Company seemed clear following the death of Milton Hershey: to be a good steward of Milton Hersheys fortune and to stay true to his vision for the Milton Hershey School and his passion for the community. Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of . Below is a brief overview of the newly elected Directors/Managers: "We look forward to bringing these new talents onto our Boards as we continue to grow Milton Hershey School and Catherine Hershey Schools for Early Learning, while continuing the prudent management of the Milton Hershey School Trust," said Koken. For information about the Hershey Cemetery, visit their website at www.hersheycemetery.com. 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. The experiences and skills he developed as a senior executive at multiple technology and software businesses also allow Mr. Dutkowsky to provide the Board with insights related to finance, management, operations, risk management and governance. Mr. Brown also has extensive government relations and public policy experience from serving as Chief of Staff in U.S. federal and Pennsylvania state governments. The Trust Company advertised frequently in the local papers, encouraging residents to start savings accounts and to plan for the future. It's a non-profit organization set up by the company's founders. Professional Experience: Senior Associate, PricewaterhouseCoopers LLP The building was designed byC. Emlen Urban, a noted Lancaster architect. The collaborative work HTC and MHS are doing together to ensure that the School . 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 . Appointed: Director 2017MHS Class of 1991 Partner and Head of M&A for the West Region, Goldman Sachs 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. He is also the Senior Vice President of Business Development for General Electric Company, a global company focused on aviation, healthcare and energy, a position he has held since October 2021. In addition, Mr. Brown has significant experience in government, finance and private equity/venture capital. Jason was chairman of the Pittsburgh Technology Council and serves on the board of Family Design Resources, which provides adoption/foster services for needy children. Large windows, massive interior pillars, bronze grill work, mahogany desks and trim, and marble flooring decorated the bank space. Hershey Foundation and the Hershey Cemetery Perpetual Care Maintenance Trust and focuses its business solely on these trusts, to advance the legacy of Milton and Catherine Hershey in perpetuity through excellence in asset management and trust administration. Prior to that, he was managing director/head of asset management companies and simultaneously global head of retail and intermediary sales at PineBridge Investments. Previously, the company paid $1.04 per share. Education: Ryder, the Northern National cashier, suggested that in addition to taking mortgages, a trust company would have the added advantage of doing fiduciary business. Highlights: Ms. Kraus has more than 25 years of experience and leadership in finance, strategy, and corporate development. 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. Management of the Milton Hershey School Trust was so good that income generated often outpaced the Schools needs. During the Depression Milton Hershey encouraged the Trust Company to be lenient in handling mortgages that fell behind in payments. 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. John was named Chief Executive Officer in June 2017 after serving as President since September 2016. Dr. Peeples-Fullmore is committed to service and giving back which makes her a valuable member of the Boards. Prior to joining Sleep Number in 2005, Ms. Schoppert led U.S. Banks Private Asset Management team and served as its Head of Product, Marketing and Corporate Development. She previously served as Insurance Commissioner of Pennsylvania for three governors and in other leadership roles during her 22-year career at Provident Mutual Life Insurance Company, a national life insurer, that culminated in her serving as its Vice President, General Counsel and Corporate Secretary. The Board of Directors of the Company has established the close of business on March 18, 2021 as the record date for determining the stockholders who are . Among the allegations regarding the misuse of funds include the Trust's purchase of an . Wrigley Jr. Company, including as Group Vice President and Managing Director, North America. 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. Board of Directors Board of Directors submenu; Committees & Charters Committees & Charters submenu; Corporate Governance Corporate Governance submenu; . Highlights: Mr. Brown brings vast experience in both the public and private sectors to the Boards of Hershey Trust Company and Milton Hershey School. Ms. English has had a lifelong commitment to improving educational opportunities for the underserved. Hershey, PA 17033 (Address of principal executive offices) (Zip Code) (717) 534-4200 (Registrant's telephone number, including area code) . Board of Directors & Treasurer at The Vista School . The Homestead served as both home and classroom to the first students. Founded in 1905 by Milton S. Hershey, Hershey Trust Company is a Pennsylvania-chartered trust company that serves as Trustee of, and investment advisor to, the Milton Hershey School Trust, the M.S. Professional Experience: The attorney general said that the three had allowed "apparent violations" of the 2013 agreement. 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. Highlights: Mr. Katzir recently completed seven years as the Chief Executive Officer of Alliance College-Ready Public Schools, a nonprofit public charter school network that serves 12,500 low-income students and supports 18,000 alumni across 26 public charter schools in Los Angeles, California. Ms. Marsh is additionally a director of the board for two institutional investor funds managed by Global Forest Partners LP and is a past director of the board of the Federal Farm Credit Banks Funding Corporation. What's not to love? Hershey Trust Company quickly became the towns financial center, playing an important role in financing Milton Hersheys construction and development plans. She is currently the Chief Financial Officer of Wedgewood Pharmacy. It assumed operation of the Hershey Theatre in 1970, Hershey Museum in 1981 and the Hershey Gardens in 1989. Get a behind-the-scenes look at how Reeses are made, Hershey Community Archives, along with Hershey Gardens, The Hershey Story, and Hershey Theatre, is an operating division of The M.S. This fund, created with the remainder of his estate, helped relieve the tax burden of maintaining the Townships public schools. Do you like Hershey history? . B.A.,Villanova University, Appointed: Director 2019MHS Class of 2004 As Chairman of the Boards and one of three representatives of Hershey Trust Company and Milton Hershey School currently serving on the Board, Ms. Koken brings to the Board valuable insights from our largest stockholder and the school that is its sole beneficiary. A large portion of the trust's funding was represented by its stake in the Hershey Company. 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 . As a child, sports media icon Ray Didinger carried star receiver Tommy McDonald's helmet to and from the practice field. Her professional and life experiences have demonstrated her ability to lead and influence. SOURCE Hershey Trust Company; Milton Hershey School, Cision Distribution 888-776-0942 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. Program Officer for the Aspiring Leaders Program at Teaching Trust She previously served the Company in a variety of executive roles, including as President and Chief Executive Officer from March 2017 to October 2019 and as Executive Vice President and Chief Operating Officer from June 2016 to March 2017. "Diane's commitment as a long-standing Manager on the Milton Hershey School Board of Managers and as a Director on the Hershey Trust Company Board of Directors has benefited the children at Milton Hershey School for years," said Robert Heist '82, who served as Chair from 2018-20. Following the sale of Hershey Bank, Hershey Trust Company needed to physically relocate and establish an identity separate from the bank. By providing top-tier trust and investment management services, Hershey Trust Company helps these trusts, and the organizations they support, achieve their long-term goals in advancing the legacy and vision of Milton and Catherine Hershey in perpetuity. He currently helps family businesses create a board of directors to help with the multi=generational . Education: About the Hershey Trust Company Founded in 1905, the Hershey Trust Company is a state-chartered trust company with over a hundred years of strength, heritage, and stability. In 2011, Hershey Trust Company sold its private wealth management group to Bryn Mawr Bank Corporation in order to focus its talents and energies on managing the assets of the Milton Hershey School trust fund. [11][12], In May 2016, the state attorney general asked the company to remove three members from the ten-person board. As one of three representatives of Hershey Trust Company and Milton Hershey School currently serving on the Board. Qualifications, Attributes and Skills: B.A., Political Science, Stanford University, Appointed: Director 2018 Professional Experience: About the same time, Hershey Trust Company began to focus on developing more traditional trust business. 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. Qualifications, Attributes and Skills: Ms. Koken is Chairman of the Board of Hershey Trust Company and Milton Hershey School, positions she has held since December 2020. A.B., Mathematics and Business Administration, Wittenberg University, Appointed: Director 2014 Prior to those roles, Mr. Perez served as UPS Vice President of Technology and as Vice President, Engineering. Partner, Dilworth Paxson Jason brings the unique perspective of an MHS graduate and vast experience as a successful entrepreneur," Koken added. The Hershey Company is headquartered in . Mr. Katzir is a significant contributor to the Boards in each of these areas. During his time at Lincoln Financial Group, he lived in the Philadelphia area and served on the board of directors of the Urban League of Philadelphia. 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. from 8 AM - 9 PM ET. Lenny was livid, "We had a deal. The Hershey Trust Company announced their successors on November 1 1 . Scalia joined the company in 2005 in the legal department with an expertise in labor relations and transitioned to Human Resources in 2011. 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. In the 1990s, the Medical Center emerged as the townships largest employer, with more than 6000 employees. Ms. Koken is a native and lifelong resident of Pennsylvania. That year Milton Hershey quietly gifted the School Trust with all of his Hershey Chocolate Company stock, then valued at $60 million. Mr. Crawford has held senior management positions at several companies across the food and beverage, hospitality and healthcare services industries. Do you like the Eagles? Legal/Regulatory Consultant The community of Hershey remained an enduring passion for Milton Hershey throughout his life. His final will was a reflection of his concern and commitment to his community. Total Compensation. 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. Rising costs, an inadequate facility and the establishment of the Harrisburg Area Community College led to the closing of the Hershey Junior College in 1965. He was a man of action. Hershey Foundation and the Hershey Cemetery Perpetual Care Trust. He has been recognized multiple times as one of Savoy Magazines Top 100 Most Influential Blacks in Corporate America. Published Jun 19, 2016. "Assuming this Board position and supporting the school that gave me so much as a student is truly humbling," said Maria Trinh Kraus. He currently serves on the corporate board of directors at WisdomTree, Inc. Director since May 2017. MHS Class of 1987 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. Did you know that Super Bowl contenders, the Philadelphia Eagles, conducted their summer training camp in Hershey several summers from 1951-1967? 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. Financial Analyst, Morgan Stanley Mr. Nevels practiced law from 1978 through 1984 as counsel in bond transactions with the law firm of Ballard, Spahr, Andrews & Ingersoll in Philadelphia where he specialized in taxable, tax- . Highlights: Jason enrolled at Milton Hershey School at the age of 11. While no one lost their job due to cutbacks in Hershey, work hours were often reduced and Hershey employees often saw a resulting reduction in their paycheck. Ms. Kraus also sits on the Board of the Girl Scouts of Eastern Pennsylvania. The state-chartered Hershey Trust Co., a for-profit community bank founded by Milton Hershey, exists primarily to manage the billions of dollars in the Milton Hershey School's endowment. New housing developments, such as Briarcrest and Glen Acres, were established in response. HERSHEY, Pa., Jan. 9, 2023 /PRNewswire/ -- 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 . Ms. Schoppert contributes to the Board through her extensive financial leadership experience, public company reporting expertise and retail experience across finance, IT, digital and marketing. B.S., Education, Millersville University, Appointed: Director 2018, Vice Chair 2021, 2022MHS Class of 1989 Hershey Foundation, and endowed it with 5000 shares of Hershey Chocolate Corporation stock. Ms. Kraus is an alumna of Milton Hershey School, having graduated as valedictorian in 1989, and is a recipient of the Milton Hershey School Alumni Career Award. Wrigley Jr. Company, a leading confectionery company, a position she held from October 2008 until her retirement in February 2011. Managers/Directors Robert F. Cavanaugh, Joseph M. Senser and James E. Nevels must retire from the MHS Board of Managers and the HTC Board of Directors effective no later than Dec. 31, 2016; and . "Michelle, Harold and Jason bring exceptional leadership experience and a commitment to honoring the legacy of our founders, Milton and Catherine Hershey, and fill important needs identified by the current members of our Boards," said Diane Koken, Chair of the HTC and MHS Boards. President & Chief Executive Officer, Penn Medicine Lancaster General Health When typing in this field, a list of search results will appear and be automatically updated as you type. A.B., Economics, Dartmouth College, Appointed: Director 2016, Chair 2021, 2022 She began her career in the airline industry, serving in various financial, strategic and general management leadership positions at American Airlines, Northwest Airlines and America West Airlines. She holds leadership positions on several boards and earned a bachelors degree in child development from the University of Pittsburgh and a masters degree in early childhood education from Kent State University. B.S., Accounting, Pennsylvania State University, Appointed: Director 2019 Earlier in his career, Harold was executive director at UBS Global Asset Management. She contributes to the Board through her significant expertise in insurance, risk management and regulatory affairs, as well as her experience in legal operations and corporate governance. In 1986, Hershey Trust Company sold its ownership of the Hershey Bank to PNC Corporation. Harold Singleton III has held executive, portfolio management and analyst roles in asset management firms for more than 30 years. President and Chief Executive Officer, Bryn Mawr Rehab, Jefferson Health System 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. 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. Ms. Marsh further brings to the Boards a keen interest in education and human development, including the mission and legacy of Milton and Catherine Hershey. Hershey created a deed of trust establishing a trust fund for the school. Both companies shared real concerns about losing control of Hershey Foods Corporation through a corporate raid or hostile takeover. During the Great Depression Milton Hershey realized that young men and women just graduating from high school had limited opportunities for employment. The Hershey Company on YouTube; CAREERS; CONTACT US; FAQ's; HERSHEYLAND; HERSHEY'S CHOCOLATE WORLD; HERSHEYPARK; HERSHEY STORE; VISIT HERSHEY, PA; BUSINESS CUSTOMERS; He was initially recommended for nomination to the Board by the Milton Hershey School Trust in 2003. 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. Furthermore, the Trust Company continued to make mortgage loans, thus playing a significant role in the growth and development of the town. Prior to that, she was executive director of the Pittsburgh Association for the Education of Young Children. Today the Trust Company continues its role as trustee for the Foundation. in Chemical . The list of best things to do in Auvergne-Rhne-Alpes includes sightseeing, pretty towns, history, and natural wonders! The Trust Company continued to maintain offices in the Bank/Trust building at the corner of Chocolate and Cocoa Avenues. The foundation's chartered purpose was to provide educational and cultural opportunities to the citizens of Derry Township. "We are united in upholding the Hersheys' vision for the school and, with our collective expertise, will be able to guide and advise the school in creating greater impact on a growing number of children through its programs and offerings.". Appointed: Director 2023 Professional Experience: Hershey Trust holds 58,112K shares representing 28.44% ownership of the company. Check out this great segment on Reese's Peanut Butter Cups, including archival materials from our collections! Enthusiastic about the mission, she serves as a role model for future generations of students. He is a Venture Partner at The Raba Partnership and Adaverse, early-stage investment funds focused on emerging markets fintech and blockchain, respectively. [9], In 2013, Kathleen Kane,[10] the Pennsylvania Attorney General, announced the conclusion of a two-year investigation into the operations of the Hershey Trust Company, in which the Office of Attorney General and the Hershey Trust Company agreed that there was a finding of no wrongdoing, but reforms were required of the trust company. It was Samuel Hinkle, President of the Hershey Chocolate Corporation and a director of the Trust Company Board, who first proposed using the money for the construction, operation and endowment of a medical center. On August 23, 1963, the Trust Company Board used The M.S. Hershey said on April 25, 2023 that its board of directors declared a regular quarterly dividend of $1.04 per share ($4.14 annualized). She serves on the Boards of the Educational Testing Service, the DC Public Education Fund, Fight for Children, the Virginia Institute of Marine Science (VIMS) Foundation, the Gladstone Companies, and DC Prep Public Charter School. He currently serves on the corporate board of directors at WisdomTree, Inc. Like other Hershey businesses, the Trust Company was an instrument to carry out Milton Hersheys plans for his model community. One of Hershey Trust Companys most important roles is being a prudent steward of the land acquired by Milton Hershey while honoring his vision for a community featuring open green space. No change in the last quarter. Brett spoke with playwright and former Philadelphia sports broadcaster Ray Didinger about the show a Did you know the Philadelphia Eagles held their training camp in Hershey from 1957-1964? Jason was chairman of the Pittsburgh Technology Council and serves on the board of Family Design Resources, which provides adoption/foster services for needy children. For more information, visit mhskids.org. As banking laws evolved in the 1970s and 1980s the tradition of small independent banks gave way to expansions and mergers. But there are precious few poor white orphans living near Hershey chocolate factories today. The board is a generic corporate governance mechanism and works as an intermediary between the firms executives and their shareholders.
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