Hershey Appoints Dave Hulays as CFO Amid Strong Salty Snacks Demand and Pricing Resilience

The Hershey Company (NYSE: HSY) this week named **Dave Hulays as its new Chief Financial Officer**, effective September 2, 2026. This strategic leadership change comes as the company continues to navigate volume challenges with pricing resilience and supply limitations in its expanding salty snacks business.

New CFO Appointment

On September 2, 2026, Hershey officially announced that Dave Hulays has been appointed CFO, succeeding Steve Voskuil, who will support the leadership transition through early 2027. This move signals a deliberate and structured handover at the finance leadership level. The appointment was confirmed in a company press release issued that day. 

Pricing Holds—Volume Declines Offset by Price Realization

In its second quarter, Hershey achieved **12% net price realization**, which helped drive a **3.6% increase in organic constant-currency net sales**, despite an **8% decline in volume**. The North America Confectionery segment displayed particularly pronounced dynamics: a **14% pricing gain** overshadowed a **10% volume drop**. These figures underscore the company’s ability to lean on pricing amid a softer demand environment. 

Robust Demand in Salty Snacks, but Supply Constraints Persist

The North America Salty Snacks segment also performed notably. Net sales in the quarter jumped **22.9% year-over-year**, buoyed significantly by the LesserEvil acquisition, which contributed approximately **22 percentage points** of growth. Retail takeaway rose **6.5%**, led by strong performance in Dot’s pretzels, Reese’s Filled Pretzels, and variety multipacks. Yet, supply constraints, particularly in multipacks and Dot’s pretzels, left actual **organic volume lagging at just 4% growth**. The company cited execution challenges and reduced private-label sales as headwinds. To address this, Hershey is accelerating capacity investments and automation, with further supply improvements expected in 2027. 

Significance for Investors

The CFO transition marks a crucial moment for Hershey’s financial leadership as the company balances its pricing strategy with operational execution in a volume-constrained environment. Hulays will inherit a landscape marked by strong pricing levers but ongoing supply execution risks. The salty snacks growth trajectory—demonstrating strong consumer demand yet constrained by supply—presents both an opportunity and a strategic challenge that Hulays is likely to prioritize.

Investors should monitor how quickly Hershey can narrow the gap between retail takeaway and sales delivery in salty snacks, and whether pricing resilience can continue to cushion volume softness. Hulays’s financial stewardship may prove key to navigating these dynamics heading into 2027.