Chief compliance officer Marc Woolley had been in the news after his internal memo describing infighting among board members was reported on by the Philadelphia Inquirer. According to the memo, the trust had hired external law firms including Weil Gotshal & Manges and Zuckerman Spaeder to investigate various alleged improprieties such as board member conflict of interests and insider trading accusations.

Continued empolyment

Kent Jarrell, a spokesman for the trust, released a statement that Mr Woolley is on administrative leave while a decision is made about his continued employment.

‘Remains deeply committed’

Mr Woolley’s attorney David Smith, chairman of the Philadelphia firm Schnader Harrison Segal & Lewis, said that he could not comment on the terms of Woolley’s leave including how long it will last. He added that: ‘The only comment that Marc has been making is that he remains deeply committed to the mission of the Hershey Trust and he is saddened by his placement on administrative leave.’

Source: Bloomberg BNA