Wendy's CEO Kirk Tanner has been named the new chief executive of The Hershey Company. Tanner will replace Michele Buck, who is retiring after almost 20 years at Hershey, including almost eight as CEO.

Wendy's said on Tuesday its CEO Kirk Tanner was leaving the burger chain after just over a year in the role to take on the top job at chocolate maker Hershey. For Wendy's, the change comes at a time when it has been grappling with muted sales as macroeconomic volatility pushes more people to eat at home.

The Hershey Company on Tuesday said that it has hired Kirk Tanner as its new CEO to replace the retiring Michele Buck, with Tanner leaving fast food giant Wendy's, where he was CEO for just over a year,