Hershey Trust Company Hires New Investment Chief

HERSHEY, Pa., Feb. 28, 2012 /PRNewswire/ -- Hershey Trust Company has hired a 20-year veteran of the institutional investment management industry to oversee the $8.5 billion Milton Hershey School Trust, which funds Milton Hershey School.

Eric Henry, who had been the chief investment officer of the $55 billion UAW Retiree Medical Benefits Trust, will take over management of HTC in mid-March.

"Eric Henry is a top investment professional with exemplary experience who is the right person to position the Trust's portfolio for the future," said Bob Cavanaugh '77, Chairman of the Board of Directors of Hershey Trust Company and Board of Managers of Milton Hershey School. "He will work closely with the senior administration of Milton Hershey School to ensure we have the funds to operate the School today and into perpetuity."

Since 2009, Henry was responsible for building and implementing an institutional investment program for the United Auto Workers' newly created retiree medical benefits trust fund. The fund was created by the courts to manage postretirement health care obligations and assets from GM, Ford, and Chrysler. All retiree health care benefits were transferred to the Voluntary Employee Benefits Association.

Before taking over the helm of the UAW Trust, Henry served as Chief Investment Officer and Chief Executive Officer at the $15 billion Texas Municipal Retirement System.

He previously served as executive director of the $30 billion Pennsylvania State Employees' Retirement System, leading it through a comprehensive fiduciary audit. During his tenure, the retirement system consistently earned top-tier investment returns. Prior to that, he was executive director of the $5 billion New Hampshire Retirement System, guiding it through a comprehensive retooling of investment and administrative processes. 

"I am thrilled to return to Pennsylvania, and I look forward to ensuring the mission of Milton Hershey School continues, just as Milton Hershey intended it to," said Henry, a Central Pennsylvania native.

Henry will serve as Chief Executive Officer and Chief Investment Officer of Hershey Trust Company and report directly to the Board.

"I look forward to working with Eric to ensure that we have the resources we need to serve our current students well, while continuing to increase the number of students we serve," said Dr. Anthony Colistra '59, president of Milton Hershey School.

Milton Hershey School, founded in 1909 by chocolate magnate Milton Hershey and his wife Catherine, provides a home and an education to more than 1,850 children from pre-kindergarten to 12th grade who come from families in poverty.

Hershey Trust Company serves as trustee for the Milton Hershey School Trust, the endowment which supports the School.

SOURCE Hershey Trust Company