HERSHEY, Pa., Jan. 9, 2023 /PRNewswire/ -- The Hershey Trust Company (HTC) Board of Directors and the Milton Hershey School (MHS) Board of Managers announced today the recent election of three new Directors/Managers: Michelle Figlar, Harold Singleton III and Jason Wolfe. B.A., Brown University. Any Director of the Trust Company who also serves as a Director of The Hershey Company or Hershey Entertainment and Resorts Company may not receive more than $80,000 for their Trust Board service. Education: The new issue of The Legacy is out! During the Depression Milton Hershey encouraged the Trust Company to be lenient in handling mortgages that fell behind in payments. Please contact us for more information. Chief Investment Officer and Treasurer, University of Pittsburgh Highlights: Dr. Peeples-Fullmore is an education professional and brings important experience to the Boards in areas of school administration, at-risk/dependent children, and residential childhood education. Harold has spent his career leading teams that managed multibillion-dollar investment portfolios and will be immediately helpful in overseeing the management of the Milton Hershey School Trust. For more information, visithersheytrust.com. Available rental properties offered by Hershey Trust Company, can be found at www.htcrealestate.com. The Hershey Trust Company (HTC) Board of Directors and the Milton Hershey School (MHS) Board of Managers announced today the recent election of three new Directors/Managers: Michelle Figlar, Harold Singleton III, and Jason Wolfe. The community of Hershey remained an enduring passion for Milton Hershey throughout his life. Prior to that, he was managing director/head of asset management companies and simultaneously global head of retail and intermediary sales at PineBridge Investments. He is a Venture Partner at The Raba Partnership and Adaverse, early-stage investment funds focused on emerging markets fintech and blockchain, respectively. Ms. Arway is the former President, Japan/Asia Pacific/Australia Region, of American Express International, Inc., a global payments, network and travel company, a position she held from October 2005 until her retirement in January 2008. Co-Founder and Chief Executive Officer, Carry1st The Hershey Trust Company is an American corporation incorporated on April 28, 1905, by Milton S. Hershey, Harry Lebkicher and John E. Snyder. He has a long-standing interest in education, particularly for disadvantaged children. Hershey stipulated that those assets were to be managed by the Hershey Trust, part of a for-profit bank, and he retained a significant measure of control over the school's operations by reserving to the bank the right to appoint its board members. In simple terms, the bank controlled the school's assets and operations, and Hershey owned the . Issue: June 2016. Shares must be . The Hershey Trust . Mr. Dutkowsky is the former Executive Chairman and Chief Executive Officer of Tech Data Corporation, a wholesale distributor of technology products, a position he held from June 2018 until his retirement in June 2020. . Manager and Group Head Corporate Banking, Mellon Bank The Foundation then entered a period of assuming ownership of many of the communitys cultural organizations. As one of three representatives of Hershey Trust Company and Milton Hershey School currently serving on the Board. Pay Rank By Title In MFG Nondurable industry. B.S., Accounting, Pennsylvania State University, Appointed: Director 2019 The bank operated as a separate entity, though the Trust Company, as trustee, owned majority equity ownership in the bank. Mr. Malcolm brings to the Board significant experience in emerging markets and in the marketing and sales of consumer products, including consumer-packaged goods and fast-moving consumer goods. Thanks to a historic gift by M.H.S.'s founder, the Hershey Trust Company has an endowment of $12.3 billion and an ownership stake in Hershey Company, giving it control of the candy dynasty . Highlights: Ms. Bergen is a well-known and highly regarded health care executive who is the recently retired President & Chief Executive Officer of Penn Medicine Lancaster General Health. She served as Insurance Commissioner in Pennsylvania for ten years in the cabinets of Republican and Democratic governors. Chairman of the Board, Hershey Trust Company and Milton Hershey School Yes Audit Compensation Robert M. Malcolm 68 10 Former President, Global Marketing, Sales & Innovation, Diageo PLC Yes Eight directors ran up an $18,000 tab for a weekend board meeting last June at New York's Waldorf-Astoria hotel, according to internal records . Harold Singleton III has held executive, portfolio management and analyst roles in asset management firms for more than 30 years. Ryder, the Northern National cashier, suggested that in addition to taking mortgages, a trust company would have the added advantage of doing fiduciary business. Mr. Crawford contributes to the Board through his broad range of experience in digital transformation, fast moving consumer goods, logistics and supply chain management, as well as his valuable insights in emerging markets, consumer retail and finance. To broaden its accessibility, special deposit stations were established on Hershey trolleys. . The building was designed byC. Emlen Urban, a noted Lancaster architect. Iron Mountain Incorporated (May 2014 to present), Bachelors degree in languages from Memorial University of Newfoundland, Masters of Business Administration degree from Queens University, Kingston, Ontario, Canada, FS Credit Real Estate Income Trust (December 2021 to present), FS Multi-Strategy Alternatives Fund/FS Series Trust (August 2017 to present), FS Investment Corporation III (February 2016 to December 2018), Juris Doctor degree from the University of Virginia Law School, New York Life Insurance Company (November 2013 to present), Bachelors degree from Shippensburg University of Pennsylvania, Masters of Business Administration degree from the University of North Carolina, Board of Trustees, National Urban League (October 2010 to present), Dave & Busters Entertainment, Inc. (August 2016 to June 2020), Bachelor of Science in accounting from Boston College, Pitney Bowes, Inc. (July 2018 to present), Raymond James Financial, Inc. (October 2018 to present), Tech Data Corporation (October 2006 to June 2020), Bachelor of Science in Industrial Labor Relations from Cornell University, Grocery Outlet Holding Corp. (November 2019 to present), Trustee of Equity Residential (July 2011 to present), Bob Evans Farms, Inc. (August 2012 to January 2018), Masters of Business Administration degree in marketing from the University of Michigan, Ross School of Business, Brinker International, Inc. (January 2018 to present), Masters of Business Administration degree from Columbia University Graduate School of Business, Nationwide Mutual Funds and Nationwide Variable Insurance Trust (April 2019 to present), Capital BlueCross (December 2011 to present), Nationwide Mutual Insurance Company; Nationwide Mutual Fire Insurance Company; Nationwide Corporation (April 2007 to present), Juris Doctor degree from Villanova University School of Law, Boston Consulting Group (senior advisor) (December 2012 to present), Bachelors degree in marketing from the University of Southern California, Masters of Business Administration degree in marketing from the University of Southern California, Bachelors degree in business from Monash University in Melbourne, Australia, Masters of Business Administration degree, with distinction, from the International Management Institute, Geneva, Switzerland, Bachelor of Science in industrial and systems engineering from the University of Southern California, Masters of Science in computer and manufacturing from the University of Southern California, Bremer Financial Corporation (May 2017 to present), Gaia, Inc. (formerly Gaiam, Inc.) (October 2013 to December 2018), Bachelor of Arts in mathematics and operations research from Cornell University, Masters of Business Administration in finance and general management from Cornell University. They would need comfortable homes, health and recreational facilities, and schools for their children. Check out this great segment on Reese's Peanut Butter Cups, including archival materials from our collections! Mr. Saltzmans expertise is in the areas of education, at-risk child care, and non-profits. The Hershey Trust: Managing Conflicts of Interest in Corporate Governance. J.D., University of Virginia School of Law "Diane's commitment as a long-standing Manager on the Milton Hershey School Board of Managers and as a Director on the Hershey Trust Company Board of Directors has benefited the children at Milton Hershey School for years," said Robert Heist '82, who served as Chair from 2018-20. Professional Experience: For further information, call (717)520-1100 or send an email info@hersheytrust.com. His familiarity with policy and government operations, as well as his experience as an investor in, and director of, both public and private companies, make him an important addition to the Board on matters of finance, government relations, strategy and risk management. Ms. Marsh is also a trustee emerita and past treasurer of Sewickley Academy, where she continues to serve on its endowment committee. The bank vault was a particularly imposing feature of the building. Hershey Trust Company is a money management firm based in Hershey, Pennsylvania. The Junior College maintained high academic standards and helped hundreds of Hershey residents receive a college education. Chief of Staff to Pennsylvania Governor Robert P. Casey A.B., Mathematics and Business Administration, Wittenberg University, Appointed: Director 2014 For information about the Hershey Cemetery, visit their website at www.hersheycemetery.com. "I have every expectation that Diane's commitment to advancing Mr. and Mrs. Hershey's mission will ensure that more students at Milton Hershey School will be able to receive life-changing care and support for years to come.". His experience provides to the Boards unique and valuable insight into poverty, education, not-for-profit management and responsible investing. Harold holds an M.B.A. in finance from the University of Chicago, a Bachelor of Science in chemical engineering from the Illinois Institute of Technology and is a chartered financial analyst. The decision to establish a trust company rather than a bank was made after Milton Hershey sought advice from the Northern National Bank of Lancaster, Pennsylvania. in 1951). That same year the board voted to appropriate $20,000 to build a new building to house the Trust Company offices. Founded in 1905 by Milton S. Hershey, Hershey Trust Company is a Pennsylvania-chartered trust company regulated by the PA Department of Banking and Securities. HERSHEY, Pa., Jan. 9, 2023 /PRNewswire/ -- The Hershey Trust Company (HTC) Board of Directors and the Milton Hershey School (MHS) Board of Managers announced today the recent election of three new . A state charter was granted on April 27, 1905 and Hershey Trust Company opened for business on June 15, 1905 in offices located in the Cocoa House, the first commercial building built in the new community. He is a Trustee of the Boys & Girls Clubs of the Valley (AZ), a Trustee of the San Francisco Ballet, a member of the Presidents Leadership Council at Dartmouth College, and a member of the Advisory Board of the Program for Financial Studies at Columbia Business School, where he guest lectures on financial topics. Senior Vice President, National Geographic Society HERSHEY, Pa., Dec. 11, 2020 /PRNewswire/ -- The Hershey Trust Company Board of Directors and the Milton Hershey School Board of Managers announced the election of Diane Koken as Chairman and Maria . Jason Wolfe enrolled at Milton Hershey School at the age of 11. [11][12], In May 2016, the state attorney general asked the company to remove three members from the ten-person board. For information about The M.S. Education: Chief Schools Officer, KIPP Jacksonville Schools Ms. Koken was an Attorney in the Legal Department of a Philadelphia based insurance company progressing through various management positions during her 22-year career to serve as Vice President, General Counsel, and Corporate Secretary. The MS Hershey Foundation Board of Managers are chosen from the Trust Company's board. Legal/Regulatory Consultant In addition to handling the Hershey business payrolls, the Trust Company offered savings accounts, mortgages, and commercial and personal loans. To now serve as Chairman of the Board of Managers of MHS and the Board of Directors of Hershey Trust Company (HTC) has been one of the greatest honors of my life. During his time at Lincoln Financial Group, he lived in the Philadelphia area and served on the board of directors of the Urban League of Philadelphia. LeRoy S. Zimmerman, the chairman of the Hershey Trust board, said the charity, which manages the company's assets on behalf of the Milton Hershey School, a school in Hershey, Pa., for . She previously served as the vice president of learning at The Heinz Endowments and the deputy secretary of the Pennsylvania Office of Child Development and Early Learning where she helped set policy and practice for publicly funded early childhood education throughout the state. President & Chief Executive Officer, Penn Medicine Lancaster General Health Urban was responsible for all of Hersheys major buildings designed before 1926, including the original factory and offices, the original Hershey Inn, the first Hershey Department Store building, the Community Building and High Point. Vice President, Corporate Planning and Business Development, Marriott Corporation The agreement comes after published reports that the trustees had spent more than $3.6 million in legal fees investigating whether two of . Professional Experience: He received his B.S. He previously served for 27 years as the executive director of the Robin Hood Foundation, New York Citys largest poverty-fighting organization. Ed.M., Leadership, Policy, and Reform, Harvard Graduate School of Education Mr. Crawford has held senior management positions at several companies across the food and beverage, hospitality and healthcare services industries. His background aligns with accountable philanthropy and the mission of preserving Mr. and Mrs. Hersheys legacy. There are a few stories that may be of interest to those of you who love Hershey history: A great story that involves Hershey history and the Philadelphia Eagles. In addition to Mr. Katzirs overall leadership experience, his roles throughout his career demonstrate a commitment to the plight of those less fortunate and align with the mission of Hershey Trust Company and Milton Hershey School. Recently, HCA was featured on the Today Show! Below is a brief overview of the newly elected Directors/Managers: "We look forward to bringing these new talents onto our Boards as we continue to grow Milton Hershey School and Catherine Hershey Schools for Early Learning, while continuing the prudent management of the Milton Hershey School Trust," said Koken. Vice President, General Counsel and Corporate Secretary, Provident Mutual Life Insurance Company Highlights: Ms. Koken is a legal/regulatory consultant and volunteers as a court appointed special advocate for children in foster care. Ms. Kraus was elected to the Boards in 2018 and brings an extensive background in finance, strategy, and corporate development. And their unique ownership structure virtually assures that they will continue doing business that way for the next 100 years. The original staff for the Trust Company was modest, consisting of the cashier and a teller. At the heart of the fertile land of Limagne and the pastures of the Massif Central, the Clermont-Auvergne-Rhne-Alpes Centre is one of the institute's historic sites, with cutting-edge research in key sectors of agriculture, environment and food: preventive human nutrition, cereals, product quality, territories, livestock farming, robotics applied to agriculture, tree functioning, etc. But there are precious few poor white orphans living near Hershey chocolate factories today. Being one of 11 members1 of the board of directors for the Hershey Company, she had just received a presentation from snack food company Mondelez regarding a . Highlights: Ms. Marsh is the former Chief Investment Officer and Treasurer of the University of Pittsburgh where she was responsible for managing the financial assets and liabilities of the University and its endowment. He previously served as Chief Executive Officer of Tech Data from October 2006 to June 2018, including as Chairman of the Board from June 2017 until his appointment as Executive Chairman in June 2018. The floor plan was designed to offer separate office space for other Hershey businesses. We grew . Jason brings the unique perspective of an MHS graduate and vast experience as a successful entrepreneur," Koken added. Lyon is France's third-largest city and a major tourist destination. As Vice Chair of the Boards, Ms. Kraus is proud to advance the legacy of Milton and Catherine Hershey. She served in several other senior management positions during her time at Wm. M.B.A., Columbia Business School From its beginning, the Trust Company was instrumental in the growth and development of the town, advertising mortgages that encouraged people to build a home in the new community. On April 28, 1905, the Pennsylvania Department of State issued a charter creating the Hershey Trust Company. HERSHEY, Pa., Jan. 9, 2023 /PRNewswire/ -- The Hershey Trust Company (HTC) Board of Directors and the Milton Hershey School (MHS) Board of Manager. In February 2011, Robert Reese (grandson of H. B. Reese the inventor of Reese's Peanut Butter Cups),[4] a former board member and president of the Trust,[5] filed a lawsuit against the Hershey Trust Company alleging that Trust had been improperly using the Trust's money. The Hershey Trust Company (HTC) Board of Directors and the Milton Hershey School (MHS) Board of Managers announced today the recent election of three new Directors/Managers: Michelle Figlar, Harold Singleton III, and Jason Wolfe. HERSHEY, Pa., Dec. 11, 2020 /PRNewswire/ --The Hershey Trust Company Board of Directors and the Milton Hershey School Board of Managers announced the election of Diane Koken as Chairman and Maria Trinh Kraus as Vice Chairman, effective today. Prior to that position, Mr. Malcolm spent 24 years at The Procter & Gamble Company in various leadership positions, including as Vice President General Manager Beverages, Europe, Middle East and Africa, and Vice President General Manager, Arabian Peninsula. Published Jun 19, 2016. He also serves on the Board of Directors of the Hershey Trust Company. Mr. Brown provides valuable perspectives as a representative of our largest stockholder and the school that is its sole beneficiary. After the closure of the Junior College, the Foundations role broadened with its support of the Hershey Educational and Cultural Center first established in May 1966. With its quarterly payments to the School District, this gift plays an important role in supporting the high level of public education valued in the Hershey community. [6] One particular issue was the purchase of the Wren Dale Golf Course, in which the Hershey Trust overpaid for the property, to the benefit of board members who were both owners of the Wren Dale Golf Course and on the Hershey Trust board. Visit Lyon. Mr. Nevels practiced law from 1978 through 1984 as counsel in bond transactions with the law firm of Ballard, Spahr, Andrews & Ingersoll in Philadelphia where he specialized in taxable, tax- . Ms Koken is passionate about the mission of the Milton Hershey School and is focused on fulfilling and furthering the mission and legacy of its founders, Milton and Catherine Hershey. Chief Executive Officer, Alliance College-Ready Public Schools Senior Associate, PricewaterhouseCoopers LLP Board of Directors Board of Directors submenu; Committees & Charters Committees & Charters submenu; Corporate Governance Corporate Governance submenu; . 2023 Hershey Trust Company 100 Mansion Road East PO Box 445, Hershey PA, 17033-0445, 100 Mansion Road East PO Box 445, Hershey PA, 17033-0445. She previously served the Company in a variety of executive roles, including as President and Chief Executive Officer from March 2017 to October 2019 and as Executive Vice President and Chief Operating Officer from June 2016 to March 2017. During his time at Lincoln Financial Group, he lived in the Philadelphia area and served on the board of directors of the Urban League of Philadelphia. Management of the Milton Hershey School Trust was so good that income generated often outpaced the Schools needs. The Hershey Trust Company is a trust that oversees the funding of the Milton Hershey School. He has been recognized multiple times as one of Savoy Magazines Top 100 Most Influential Blacks in Corporate America. During his career, Jason has received a variety of honors, including Ernst & Youngs Entrepreneur of the Year, the Pittsburgh Technology Councils CEO of the Year and the Milton Hershey School Alumnus of the Year. Special Assistant to the President, Board of Education of the city of New York Hershey created a deed of trust establishing a trust fund for the school. Mr. Saltzman was named one of Time Magazines 100 Innovators. Co-Chair of the Atria Health Collaborative The Hershey Trust Company, then owned by Mr. Hershey, was and still is the trustee of the School Trust and, as directed in the trust deed, the members of the Board of Directors of the Hershey Trust Company also serve as the Board of Managers of the School. Her presence in the boardroom also ensures efficient communication between the Board and Company management. Hershey Foundation Trust, and the Hershey Cemetery Trust. Managers/Directors Robert F. Cavanaugh, Joseph M. Senser and James E. Nevels must retire from the MHS Board of Managers and the HTC Board of Directors effective no later than Dec. 31, 2016; and . "The Board is established to carry out the lasting legacy of our founders. Specifically, roughly 48% of the outstanding shares of Hormel Foods are owned by the Hormel Foundation. President and Chief Executive Officer, Bryn Mawr Rehab, Jefferson Health System Reese suggested the Pennsylvania Attorney General had enough cause to investigate the Hershey Trust. Teacher and Administrator in Title I Public Schools In his reply, E.J. Given her background, Dr. Peeples-Fullmore has unique insights into the educational and social issues that face the students of Milton Hershey School. Hershey Foundation and the Hershey Cemetery Perpetual Care Maintenance Trust and focuses its business solely on these trusts, to advance the legacy of Milton and Catherine Hershey in perpetuity through excellence in asset management and trust administration. In making its independence determinations with respect to Ms. Koken and Messrs. Brown and Katzman, the Board considered their roles as current members of the board of directors of Hershey Trust Company and the board of managers (governing body) of Milton Hershey School, as well as certain transactions the Company had or may have with these . Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Los Angeles Regional Director, Sylvan Learning Systems Professional Experience: She holds leadership positions on several boards and earned a bachelors degree in child development from the University of Pittsburgh and a masters degree in early childhood education from Kent State University. Ed.D., Education Policy and Leadership, Southern Methodist University Professional Experience: Ms. Arway held multiple leadership positions during her 21-year career with American Express Company, Inc. and its subsidiaries, including as Chief Executive Officer, American Express Australia Ltd., and as Executive Vice President and General Manager, Corporate Travel North America. Do you like Hershey history? Hershey Trust Company and the Milton . His familiarity with policy and operations of government and his experience as an investor in and director of both public and private companies bring value to the Boards. HERSHEY, Pa., Jan. 9, 2023 /PRNewswire/ -- The Hershey Trust Company (HTC) Board of Directors and the Milton Hershey School (MHS) Board of Managers announced today the recent election of Ms. Kraus is an alumna of Milton Hershey School, having graduated as valedictorian in 1989, and is a recipient of the Milton Hershey School Alumni Career Award. She has also served as director of Hershey Trust Company and a member of the Board of Managers of Milton Hershey School since December 2015. She serves on the Boards of the Educational Testing Service, the DC Public Education Fund, Fight for Children, the Virginia Institute of Marine Science (VIMS) Foundation, the Gladstone Companies, and DC Prep Public Charter School.
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