Kirk Tanner departs Wendy’s to be the next CEO of Hershey at a time of raising difficulties on cost, increased tariffs, and shifting consumer habits.

Kirk Tanner, the CEO of Wendy's, is departing the company to replace Michele Buck, the veteran CEO. Stepping down after seven years of service and Tanner as the new CEO of The Hershey Company, according to a Reuters report.

Tanner takes on an established business that struggles with its own troubles at Hershey. With rising cocoa expenses, increased tariffs, and more careful consumer purchasing for chocolate manufacturers. However, Tanner's expertise as a past PepsiCo CEO is considered positive, especially during the economic difficulty.

Whereas Wendy's is undergoing struggles with Tanner's departure. Rising prices and changing consumer habits as more individuals prefer to eat at home are the primary cause of the burger chain's sales decline. Stock of the business has dropped by approximately 31% this year, falling behind its major competitors in the fast food sector. As it seeks a permanent replacement, Wendy's has chosen Ken Cook, its current CFO, as the temporary CEO. Investors are expected to watch the company's second-quarter profit release, which is set for August 8, for indications of a reversal.

The food and beverage business is experiencing major shifts at the same time as these leadership changes. Tanner's next move at Hershey and Wendy's future leadership choice are important in determining their futures as both businesses deal with rising costs and changing consumer habits. These actions could point to an overall change in the processed food and fast-food businesses, and more changes are likely in the works.