The Hershey Company said Tuesday it has hired Wendy’s chief executive officer Kirk Tanner to become its president and CEO on 18 August, succeeding Michele Buck, who will retire after nearly eight years in the role and remain a senior adviser through year-end. Tanner will leave Wendy’s on 18 July, ending a tenure of just over a year that followed more than three decades at PepsiCo. Wendy’s has named chief financial officer Ken Cook as interim CEO and launched a search for a permanent replacement. The shake-up comes as Wendy’s struggles with muted sales; the stock has fallen roughly 31% since the start of the year. Hershey, whose shares slipped about 3% on the day, is grappling with elevated cocoa prices and tariff-related cost pressures. Hershey is scheduled to report quarterly earnings on 30 July, while Wendy’s will release second-quarter results on 8 August.