She brings board experience on Fortune 100 and public company boards. "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: Prior to those roles, Mr. Perez served as UPS Vice President of Technology and as Vice President, Engineering. In 1938, the Foundation endowed the Hershey Junior College, offering tuition free higher education to all Derry Township residents and employees of the Hershey corporations. 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. New housing developments, such as Briarcrest and Glen Acres, were established in response. This focus aligns her work with the mission of the Hersheys legacy. Chief of Staff to Pennsylvania Governor Robert P. Casey Hershey Trust Company She served as the longest president of the National Association of Insurance Commissioners. 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. Commissioner, Pennsylvania Department of Insurance Professional Experience: Teacher and Administrator in Title I Public Schools The state-chartered Hershey Trust Co., a for-profit community bank founded by Milton Hershey, exists primarily to manage the billions of dollars in the Milton Hershey School's endowment. The new Vice Chair of the Boards is Maria Trinh Kraus, a 1989 graduate of Milton Hershey School. Hershey Trust Company quickly became the town's financial center, playing an important role in financing Milton Hershey . A.B., Mathematics and Business Administration, Wittenberg University, Appointed: Director 2014 Previously, the company paid $1.04 per share. During the Depression Milton Hershey encouraged the Trust Company to be lenient in handling mortgages that fell behind in payments. [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. Boards of Hershey Trust Company and Milton Hershey School Elect Three Qualifications, Attributes and Skills: Under the terms of the Agreement, the Milton Hershey School Trust will sell to the Company on a weekly basis during the Term the number of shares of Common Stock equal to the product of the aggregate number of shares of Common Stock the Company has purchased on the open market from persons other than the Milton Hershey School Trust during the preceding calendar week (the "Prior Week Shares . Vice President, The Carlyle Group Hershey Trust Company Profile: Commitments & Mandates | PitchBook It seeks to balance the need to preserve open land while accommodating a real need to provide for the growth and development necessary to remain a healthy community. No change in the last quarter. He currently serves on the corporate board of directors at WisdomTree, Inc. Among the allegations regarding the misuse of funds include the Trust's purchase of an . Chief Executive Officer, Alliance College-Ready Public Schools "Assuming this Board position and supporting the school that gave me so much as a student is truly humbling," said Maria Trinh Kraus. Hershey Trust Company - Wikipedia In 1930, at Milton Hershey's direction, school alumni and a former superintendent formed The Milton Hershey School Alumni Association. Grenoble, the Auvergne-Rhne-Alpes, France - Lat long With Milton Hersheys gift, the Trust Company needed to direct more of its efforts toward the management of the School Trusts assets. The Trust Company excelled in its responsibility and stewardship of those trust funds. Education: Boards of Hershey Trust Company and Milton Hershey School Elect Three During the early years, Milton Hershey paid for many of the schools expenses out of his own pocket. James W. Brown Michela English Michelle Figlar Dan Katzir James C. Katzman M. Diane Koken, Chairman Maria T. Kraus, Vice Chair Amy K. Marsh Melissa L. Peeples-Fullmore Cordel Robbin-Coker David Saltzman Harold Singleton III Jason Wolfe Check out Tommy and Me!. Prior to that, he was managing director/head of asset management companies and simultaneously global head of retail and intermediary sales at PineBridge Investments. 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. The Depression of the 1930s was a time of significant financial hardship for all of the United States. He had the foresight to recognize that if his chocolate making idea was to work for the benefit of all, he would need a place for his workers to live self-reliant, independent lives. 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. Check out this great segment on Reese's Peanut Butter Cups, including archival materials from our collections! 2011 investigation of the Hershey Trust Company, Entities of the Milton Hershey School Trust, Entities of the Milton S. Hershey Foundation, Created through a gift from the MS Hershey Foundation using funds provided by the, Hershey Entertainment and Resorts Company, Penn State Milton S. Hershey Medical Center, "Board of Directors Hershey Trust Company", "IRS Form 990 Milton Hershey School and School Trust", "Hershey school's purchase of golf course helped investors", "Ousted Hershey Trust president tells court of serious financial irregularities", "Ex-Hershey Trust official Robert Reese gives $100K to AG candidate Kathleen Kane", "Pennsylvania's attorney general: No penalties, but reforms for Hershey Trust", "Hershey Trust Company Reaches Agreement with Attorney General on Reforms to Better Serve the Milton Hershey School Mission", "AG wants to remove 3 leaders of Hershey Trust", "Few details available in Estey bombshell", https://en.wikipedia.org/w/index.php?title=Hershey_Trust_Company&oldid=1117454328, This page was last edited on 21 October 2022, at 20:26. in Chemical . The establishment of the Hershey Medical Center had a dramatic impact on the community as well. Ed.D., Education Policy and Leadership, Southern Methodist University Following the sale of Hershey Bank, Hershey Trust Company needed to physically relocate and establish an identity separate from the bank. As Vice Chair of the Boards, Ms. Kraus is proud to advance the legacy of Milton and Catherine Hershey. Prior to joining Tech Data, Mr. Dutkowsky served as President, Chief Executive Officer and Chairman of two software companies, Egenera, Inc. and J.D. Specialized savings accounts, such as Christmas Savings Clubs, were clever gimmicks promoted by the Trust Company to encourage new account business. 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. President and Chief Executive Officer, Bryn Mawr Rehab, Jefferson Health System The company is a minority owner of The Hershey Company and sole private owner of Hershey Entertainment and Resorts Company and administrator of the 2,000 student Milton Hershey School. This is important because the snack food company . Shares must be . Throughout her career, Ms. Haben gained extensive experience managing businesses in the consumer-packaged goods industry and developed a track record of growing brands and developing new products. She served as Insurance Commissioner in Pennsylvania for ten years in the cabinets of Republican and Democratic governors. 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 . Though at the time Hershey Trust Company did not actively solicit private trust business, it did accept most requests to establish private trust accounts. Mr. Malcolm is the former President, Global Marketing, Sales & Innovation, of Diageo PLC, a leading premium drinks company, a position he held from June 2002 until his retirement in December 2008. B.A.,Villanova University, Appointed: Director 2019MHS Class of 2004 Hershey (HSY) Declares $1.04 Dividend - fintel.io Attorney General, Hershey Trust reach agreement - WGAL Education: Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of . For further information, call (717)520-1100 or send an email [email protected]. The foundation's chartered purpose was to provide educational and cultural opportunities to the citizens of Derry Township. 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. Born in Central Pennsylvania, Mr. Katzman brings sophisticated skills in the financial area and has a personal interest in education and childhood development. Ms. Marsh further brings to the Boards a keen interest in education and human development, including the mission and legacy of Milton and Catherine Hershey. He held the position of President and Chief Operating Officer, Healthcare, Education and Business Dining, at Aramark Corporation, a global provider of food, facilities and uniform services, from September 2012 to October 2018. At about the same time, in an unrelated investigation, John Estey, former chief of staff to Governor Ed Rendell and a high-ranking executive of the company, was charged with wire fraud, having pocketed $13,000 that an FBI sting operation had given to him in an investigation into illegal lobbying of legislators.[13][14]. For further information, call (717)520-1100 or send an email [email protected]. When Catherine and Milton Hershey created the Deed of Trust establishing the Hershey Industrial School (now Milton Hershey School), Hershey Trust Company was appointed trustee for the 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. M.B.A., Harvard Graduate School of Business Administration 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. As a result of the February 2023 Stock Purchase Agreement with Hershey Trust Company , as trustee for the School Trust , the July 2018 share repurchase authorization was completed and as of April 2, 2023 , approximately $370 million remained . Hershey Foundation Trust, and the Hershey Cemetery Trust. By providing top-tier trust and investment management services, Hershey Trust Company helps these trusts, and the organizations they support, achieve their long-term goals in advancing the legacy and vision of Milton and Catherine Hershey in perpetuity. Hershey School's board, despite orders to be frugal, runs up big The Pennsylvania Attorney General's office on Friday unveiled the terms of a reform agreement with the charitable trust that controls Hershey Co <HSY.N> that includes a 10-year term limit for . Board of Directors Board of Directors submenu; Committees & Charters Committees & Charters submenu; Corporate Governance Corporate Governance submenu; . For information about the Milton Hershey School, visit their website at www.mhskids.org. B.S., Accounting, Pennsylvania State University, Appointed: Director 2019 The Association is composed mostly of School graduates, though it includes honorary and . 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. Highlights: Ms. English is the former President and Chief Executive Officer of Fight For Children, a highly visible Washington, D.C.-based nonprofit that improves education opportunities for low-income children. Hershey Trust Company is a money management firm based in Hershey, Pennsylvania. The Board of Managers was established by Milton and Catherine Hershey in 1909 as the Milton Hershey School governing body. [9], In 2013, Kathleen Kane,[10] the Pennsylvania Attorney General, announced the conclusion of a two-year investigation into the operations of the Hershey Trust Company, in which the Office of Attorney General and the Hershey Trust Company agreed that there was a finding of no wrongdoing, but reforms were required of the trust company. Mr. Katzir is a significant contributor to the Boards in each of these areas. 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 $3,066,024 View details. A Seth Thomas 30 day clock was positioned above the vault door, guarded by two magnificent lions in bas-relief, representing Time and Strength.. 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 . Edwards & Co., Inc. Having spent most of his career in the technology industry, Mr. Dutkowsky brings to the Board broad operational experience and a deep understanding of the technology industry and how technology and digital capabilities drive growth and resiliency. Mr. Brown also has extensive government relations and public policy experience from serving as Chief of Staff in U.S. federal and Pennsylvania state governments. Appointed: Director 2023 Mr. Brown provides valuable perspectives as a representative of our largest stockholder and the school that is its sole beneficiary. The Hershey Trust Company announced their successors on November 1 1 . This was particularly important with a new and rapidly expanding community. Prior to that, she was executive director of the Pittsburgh Association for the Education of Young Children. One of Hershey Trust Companys most important roles is being a prudent steward of the land acquired by Milton Hershey while honoring his vision for a community featuring open green space. The bank operated as a separate entity, though the Trust Company, as trustee, owned majority equity ownership in the bank. Most notably, he created GiftCards.com, which is the largest gift card website in the world generating more than $1 billion per year in sales. The Junior College maintained high academic standards and helped hundreds of Hershey residents receive a college education. The bank vault was a particularly imposing feature of the building. Dec 11, 2020. www.tiogapublishing.com . Highlights: Mr. Katzman is Senior Vice President, Business Development for General Electric (GE).
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