Hershey (HSY) - Reportedly Hershey Trust, the controlling shareholder, agrees to governance changes - press
Hershey Trust controls billions of dollars for a nonprofit school and holds a 30% stake in HSY with 81% of the voting rights.
The Trust has agreed to a settlement with the Pennsylvania AG, agreeing to significant changes to the trust's governance after a probe of allegations about conflicts of interest and excessive compensation on the board. Some board members are expected to step down and a pay cap will be imposed.