'Hershey' Major Shareholder Sells Portion of 10 Trillion Won Stake... Education Trust Continues Common Stock Sales

The Milton Hershey School, for which the Hershey Trust serves as trustee, sold roughly 70,000 shares of The Hershey Company (NYSE: HSY) common stock on the U.S. market in successive transactions from May 18 through May 27, raising approximately $15 million (about KRW 200 billion) in cash. As a result, the trust’s directly held common shares have declined from about 1.62 million to roughly 1.56 million. However, including the 54.61 million Class B shares that are convertible into common stock, the trust’s total economic interest remains essentially unchanged at around $11 billion (approximately KRW 14 trillion), reflecting only a modest rebalancing of its holdings.

Meanwhile, on June 3 the board of The Hershey Company announced the appointment of Joe Park—Chief Digital & Information Officer at U.S. insurer State Farm—as a new director. He is slated to join the Audit; Finance & Risk Management Committees effective June 29. In its first-quarter 2026 earnings report issued at the end of April, Hershey posted revenues of about $3.1 billion (roughly KRW 4 trillion) and delivered double-digit year-over-year growth, reaffirming its full-year guidance for both sales and earnings.

Headquartered in Pennsylvania, The Hershey Company is a global manufacturer of chocolate and snack products, generating annual revenues in excess of $11 billion through brands such as Hershey’s, Reese’s, Kisses and Kit Kat. Its largest shareholder, the Hershey Trust, operates as an educational endowment for the Milton Hershey School—founded by company founder Milton S. Hershey—using dividends and capital gains from its equity stake to fund school operations and scholarships under a long-term ownership structure.