HARRISBURG, Pa. (WHTM) – An agreement with the state attorney general’s office limits service and compensation of board members at the Milton Hershey School and requires five to retire by the end of next year.
The agreement announced Friday additionally requires the Hershey Trust Company and Milton Hershey School boards to give the state attorney general’s office at least 30 days written notice of all real estate deals of more than $250,000.
Attorney General Kathleen Kane’s office in 2013 began an investigation following the $12 million purchase of a golf course in 2006 to serve as both a buffer zone and new student housing at the private boarding school.
The agreement limits board member service to 10 years and sets compensation at $110,000 per year. Members may not receive more than $80,000 if they also serve on the board of The Hershey Company or Hershey Entertainment and Resorts.
Members Robert Cavanaugh, Joseph Senser and James Nevels must retire by the end of the year. Current chairman Velma Redmond and James Mead must retire by the end of 2017.