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. 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. Hershey Foundation as the conduit for a $50 million gift from the Milton Hershey School Trust to Pennsylvania State University for a medical school and teaching hospital known asThe Milton S. Hershey Medical Center. Hershey Trust Company and the Milton . [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. Hershey Trust Companys financial strength also enabled it to support another financial institution, Northern Trust and Saving Company of Lancaster, and prevent its collapse during the financial strain caused by the Depression. By 1981, Hershey Trusts ownership of Hershey Foods Corporation had shrunk to 50.1%. B.A., Communication, Lynn University, Appointed: Director 2019 Appointed: Director 2023 Professional Experience: He has been recognized multiple times as one of Savoy Magazines Top 100 Most Influential Blacks in Corporate America. In early 1903, while he made plans to break ground for his chocolate factory in a field near the tiny community of Derry Church, Pennsylvania,Milton Hersheythought about the needs of his future workers. Partner and Head of M&A for the West Region, Goldman Sachs 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. Financial Analyst, Morgan Stanley Read important MHS policies on equal opportunity and diversity, equal employment opportunity, and more. M.B.A., Harvard Graduate School of Business Administration Ms. Kraus also sits on the Board of the Girl Scouts of Eastern Pennsylvania. Senior Vice President, Business Development, General Electric 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. Education: She currently serves on the Board of Directors of FTAC Athena Acquisition Corp. (NASDAQ: FTAA), a SPAC, since February 2021, and Nuvei Corporation (TSX: NVEI and NVEI.U), a global payment technology provider, since August 2020. . His leadership roles at Hershey have included Chief Talent Officer and Vice President, HR Business Partner of Global Functions as well as Senior Director, HR Business Partner of Global Supply Chain. 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- . B.A., Political Science, Stanford University, Appointed: Director 2018 In particular, the Trust Company assumed responsibility for Milton Hersheys land assets, by then more than 10,000 acres of land in and around Hershey as well as his other financial investments. Hershey Foundation Trust, and the Hershey Cemetery Trust. Ed.M., Leadership, Policy, and Reform, Harvard Graduate School of Education She brings board experience on Fortune 100 and public company boards. The foundation trust has the Hershey Trust Company as its trustee and is overseen by the Trust Company's board of directors. After nearly two years of planning and development, ground was broken on August 20, 1912 for a new bank building at the intersection of Cocoa and Chocolate Avenues. M.P.P.M, Yale School of Management 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. Ms. Bergen has served on numerous community, philanthropic, and health care related boards, and currently serves on several non-profit boards as well as a corporate board and the prestigious American Hospital Association Foster G. McGaw Prize Committee. 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. Education: During the Great Depression Milton Hershey realized that young men and women just graduating from high school had limited opportunities for employment. For information about the Milton Hershey School, visit their website at www.mhskids.org. 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. J.D., Villanova University School of Law For information about the Hershey Cemetery, visit their website at www.hersheycemetery.com. He was a man of action. With the establishment of the Hershey Bank, the Trust Company could now focus its efforts on trust and related businesses. Mr. Saltzmans expertise is in the areas of education, at-risk child care, and non-profits. After graduating from MHS and Bloomsburg University in 1992, he became an entrepreneur and selftaught programmer and started a series of internet companies, including MyCoupons. Highlights: Harold has held executive, portfolio management and analyst roles in asset management firms for more than 30 years. They are the final arbiter of all major decisions made by the firm (Thomson and Canyon, 2012, p. 142). 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. Director since May 2017. Hershey Foundation Trust, and the Hershey Cemetery Trust. Prior to joining Tech Data, Mr. Dutkowsky served as President, Chief Executive Officer and Chairman of two software companies, Egenera, Inc. and J.D. Hershey Trust holds 58,112K shares representing 28.44% ownership of the company. His experience in education leadership best practice allows him to bring important insights to the Boards. Among the allegations regarding the misuse of funds include the Trust's purchase of an . Partner, Dilworth Paxson Gipsa-lab is a CNRS research unit joint with Grenoble-INP (Grenoble Institute of Technology), Universit Joseph Fourier and Universit Stendhal. Senior Vice President, National Geographic Society The Managers are responsible for the long-term sustainability of Milton Hershey School and making decisions about Trust assets. M.P.A., Columbia University MHS Class of 1987 He has been recognized multiple times as one of Savoy Magazines Top 100 Most Influential Blacks in Corporate America. She previously served as Insurance Commissioner of Pennsylvania for three governors and in other leadership roles during her 22-year career at Provident Mutual Life Insurance Company, a national life insurer, that culminated in her serving as its Vice President, General Counsel and Corporate Secretary. M.M., Kellogg Graduate School of Management, Northwestern University Education: With Milton Hersheys gift, the Trust Company needed to direct more of its efforts toward the management of the School Trusts assets. Founded in 1905 by Milton S. Hershey, Hershey Trust Company is a Pennsylvania-chartered trust company that serves as Trustee of, and investment advisor to, the Milton Hershey School Trust, the M.S. The Hershey Company on YouTube; CAREERS; CONTACT US; FAQ's; HERSHEYLAND; HERSHEY'S CHOCOLATE WORLD; HERSHEYPARK; HERSHEY STORE; VISIT HERSHEY, PA; BUSINESS CUSTOMERS; By his Will, Mr. Hershey gave the stock of the Hershey Trust Company to the School Trust. The Hershey Trust . Ms. Koken is Chairman of the Board of Hershey Trust Company and Milton Hershey School, positions she has held since December 2020. Mr. Crawford is currently the Chief Executive Officer, Pharmaceutical Segment, of Cardinal Health, Inc., a global healthcare services and products company, a position he has held since November 2018. Ms. Schoppert is the former Executive Vice President and Chief Financial Officer of Sleep Number Corporation, a bedding manufacturer, marketer and retailer, a position she held from June 2011 until her retirement in February 2014. Founded 2,000 years ago, Lyon's streets are a living museum, with beautiful historical buildings and interesting art galleries and museums. Executive Vice President, Corporate Development & Strategy, Bioclinica, Inc. Senior Engagement Manager, McKinsey & Company As Chairman of the Boards and one of three representatives of Hershey Trust Company and Milton Hershey School currently serving on the Board, Ms. Koken brings to the Board valuable insights from our largest stockholder and the school that is its sole beneficiary. 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. He previously served for 27 years as the executive director of the Robin Hood Foundation, New York Citys largest poverty-fighting organization. That same year the board voted to appropriate $20,000 to build a new building to house the Trust Company offices. Education: Since 1909, MHS has achieved its mission of breaking the cycle of poverty. What's not to love? This focus aligns her work with the mission of the Hersheys legacy. She contributes to the Board through her significant expertise in insurance, risk management and regulatory affairs, as well as her experience in legal operations and corporate governance. Appointed: Director 2023 A native of Pennsylvania, she has exceptional leadership and management experience in complex organizations operating in highly regulated environments. That year Milton Hershey quietly gifted the School Trust with all of his Hershey Chocolate Company stock, then valued at $60 million. 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. Though at the time Hershey Trust Company did not actively solicit private trust business, it did accept most requests to establish private trust accounts. Earlier in his career, he served as the special assistant to the president of the Board of Education of the City of New York, the nations largest school system with 1.1 million students. The alleged compensation abuses relate to the purported payment of excessive compensation to the Directors of the Hershey Trust Company, a wholly-owned for profit subsidiary of the Trust, reported to total $1,118,146 for the part time work of ten directors. Having previously served as a partner in Goldman Sachs Group, Inc., a multinational investment bank, he also contributes to the Board through his extensive experience in corporate financial matters and merger and acquisition transactions, which assists the Board in overseeing the Companys financial stewardship and transformation into an innovative snacking powerhouse.
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