WALL STREET JOURNAL: …Hershey Trust Co. has agreed on terms of a settlement with Pennsylvania’s top law-enforcement officer, which has been investigating the trust board over allegations of excessive compensation and conflicts of interest.
The parties are in the process of drafting a legal document outlining the terms, which would lead to resignations of some trust board members, these people said. The settlement would include enforcing a cap on compensation and term limits of board members, according to these people…
A few weeks ago, Mondelez International Inc., maker of Oreo cookies and Ritz crackers, made a $23 billion bid for Hershey. The offer was rejected unanimously by Hershey’s corporate board, which includes three members of the trust’s board… (more)
