Hershey Trust’s Leader Retires Early

The chief executive of the Hershey Trust Company, the group that manages an $8-billion charitable endowment, will retire early, reports The Philadelphia Inquirer.

Robert C. Vowler, president and chief executive officer for 12 years, had planned to retire in April 2009 but says he is grateful the trust allowed him to retire early. The Hershey Trust manages the assets of the Milton S. Hershey School, which serves needy children in kindergarten through high school. Forty percent of the school’s endowment is in stock for the Hershey Company, the chocolate maker, and the Hershey Amusement Park.

Critics have said that the school is too vulnerable to the company’s recent market declines. Mr. Vowler tried unsuccessfully in 2002 and again in 2007 to negotiate a sale of the Hershey Company stock in to diversify the trust’s portfolio.

Vincent B. Rudisill, chief investment officer, will become executive of the trust.