a bakery, electric company, creamery, sports arena, air park, amusement park, and lumber yard. The Estates company maintained this kind of control until the 1960s, when they began selling off public works companies such as the electric company, gave control of the roads they owned to Derry Township, and began closing poor performing divisions. In 1971, Hershey Estates began a large renovation project for Hershey Park, involving new rides, a gate around the park, live acts, and other kinds of entertainment. The park was also renamed Hersheypark. HERCO / Hershey Entertainment & Resorts In 1976, the company changed its name from Hershey Estates to HERCO, Inc., because public perception led many to believe that Hershey Estates referred to land that Milton Hershey once owned. In 1980, the name was changed to the current name: Hershey Entertainment and Resorts Company (HE&R), a backronym. Between 1980 and 1987, HE&R began expanding their presence to hotels in the Pocono Mountains, Philadelphia and Corpus Christi, Texas, as well as purchasing Lake Compounce in Bristol and Southington, Connecticut. However, economic and political circumstances caused the Philadelphia and Corpus Christi hotels to struggle substantially. This caused HE&R to experience severe financial difficulties, leading to the promotion of J. Bruce McKinney as CEO of the company. One of his first significant decisions was the controversial move to sell Hershey Lake Compounce. Ultimately, McKinney successfully led the company back to financial stability, which led to substantial growth within Hersheypark and at the Hershey Lodge in the mid and late 1990s. McKinney retired in 2000 and was replaced by Scott Newkam. Newkam served as CEO of HE&R until 2006, when Newkam was replaced by Ted Kleisner. On January 1, 2013, William F. Simpson Jr. replaced Kleisner as the CEO of Hershey Entertainment and Resorts. John Lawn succeeded Simpson as chief executive on June 14, 2017. Company divisions There are two main divisions of the Hershey Entertainment and Resorts Company: Hershey Entertainment Group and the Hershey Resorts Group. Hershey Entertainment Group Hersheypark Hersheypark Arena Hersheypark Stadium Giant Center (owned by Derry Township Industrial and Commercial Development Authority and managed by Hershey Entertainment Group) ZOOAMERICA North American Wildlife Park The Star Pavilion at Hersheypark Stadium Hershey Theatre Hershey Bears Hockey Club (hockey organization) Hershey Bears (team in the American Hockey League) Hershey Nursery Hershey Laundry Hershey Resorts Group Hotel Hershey The Spa at The Hotel Hershey The Jeweler at The Hotel