Hershey Executive Returns to PepsiCo After Three-Month Stint

(Bloomberg) -- Hershey Co.’s president of US confections is stepping down after three months to go back to PepsiCo Inc.

Chief Executive Officer Michele Buck will serve as the interim head of US confections while a successor is chosen from internal and external candidates, Hershey announced in a statement Tuesday. The change is effective Dec. 12.

Hershey announced in September that Michael Del Pozzo would take the top job at Hershey’s core business unit after about 23 years at the snacks and cola company, where he held executive positions with Gatorade and Frito-Lay North America.

Bloomberg reported Monday that Chicago-based Mondelez International Inc. is exploring an acquisition of Hershey, a combination that would create a food company with sales of nearly $50 billion. Hershey previously rejected a bid from Mondelez in 2016. Hershey shares closed up 11% after the report.