Hershey has named former PepsiCo executive Kirk Tanner as its president and CEO to succeed Michele Buck, who had previously announced her intention to retire in June next year. Tanner, who is currently president and CEO of the fast-food chain Wendy's,

Wendy's said on Tuesday its CEO Kirk Tanner was leaving the burger chain after just over a year in the role to take on the top job at chocolate maker Hershey. For Wendy's, the change comes at a time when it has been grappling with muted sales as macroeconomic volatility pushes more people to eat at home.

The Hershey Company on Tuesday said that it has hired Kirk Tanner as its new CEO to replace the retiring Michele Buck, with Tanner leaving fast food giant Wendy's, where he was CEO for just over a year,