The Hershey Company has appointed Dave Hulays to succeed Steven E. Voskuil as chief financial officer, according to a securities filing and press release. Hulays, 54, took the position on Wednesday.

Hulays has 30 years of financial experience split between Hershey and Procter & Gamble. He most recently served as senior VP of finance at the Pennsylvania-based company, which he joined in 2012.

Voskuil, who previously served as CFO at Kimberly-Clark for eight years, will remain at Hershey through early Q2 of 2027 to assist with the transition. He is retiring to relocate to Texas.

"Dave is a proven, enterprise-minded finance leader who has helped shape nearly every corner of this business, from our commercial and supply chain organizations to our growth agenda," said Kirk Tanner, president and CEO of Hershey.

Hulays' compensation includes:

• An annual base salary of $725,000
• A target annual incentive award opportunity of 100%
• Participation in a long-term incentive program with a $2 million target

The leadership change occurs as Hershey manages higher costs for cocoa and sugar. In the fiscal second quarter ended June 28, the company reported net income of $457.7 million, a 629% increase from the previous year, and consolidated net sales of $2.78 billion, up 6.6%.

"We delivered another strong quarter, with resilient demand across segments despite supply challenges, while price realization and productivity initiatives drove margin recovery," Voskuil said during the earnings call.