Hershey CEO Kirk Tanner on GLP-1s, AI, and keeping an iconic brand relevant

When a brand like Hershey loses its cultural relevance, says CEO Kirk Tanner, it's cause for concern. To ensure that doesn't happen, Tanner shares the strategies he's employing to maintain the iconic status of Hershey. One of those strategies involves understanding how GLP-1 (glucagon-like peptide-1) users engage with the company's products.

These users are actually beneficial for Hershey's business, as they show a willingness to enjoy the brand's offerings without compromising their dietary preferences. Tanner emphasizes the importance of remaining culturally relevant and keeping pace with cultural shifts. He cites examples of the Winter Olympics and moments of celebration to illustrate the ongoing need to connect with consumers.

Tanner acknowledges criticism over recipe changes in Reese's products, but asserts that listening to consumers and continuously improving the brand is key. With a background at PepsiCo and experience under Indra Nooyi, Tanner brings a focus on understanding consumer needs when it comes to snacking. He notes that GLP-1 users are not looking to abandon their favorite snacks, but rather may consume them in smaller portions.

This has led to a growing premium category in the snacking market, which Hershey is actively seeking to tap into. Through initiatives like One Hershey, Tanner aims to integrate various aspects of the company to create a more cohesive and responsive business strategy.