CAMDEN, N.J.–(BUSINESS WIRE)–Sept. 26, 2005–Campbell Soup Company (NYSE:CPB) today announced the nominations of A. Barry Rand and Sara Mathew for election to its Board of Directors at the company’s annual meeting of shareowners, which will be held on November 18, 2005.
To take advantage of the opportunity to add two outstanding directors, the Company’s By-Laws have been amended to increase the size of the Board from 16 to 17 members. The amendment will be effective on November 18, 2005. Rand will succeed Donald M. Stewart, 67, who will retire from the Board after 14 years of service. Mathew will join the Board as its 17th member until November 2006, when Philip E. Lippincott, 69, former Chairman of the Campbell Board and a Director since 1984, retires, and the Board will be reduced to 16 again.
Rand, 60, is former Chairman and Chief Executive Officer of Equitant, Inc., a global provider of order-to-cash management services that was acquired by IBM in April 2005. He also is former Chairman and Chief Executive Officer of Avis Group. He began his career at Xerox Corporation, where he spent nearly 30 years in a variety of senior-level roles in sales, marketing, and executive leadership, culminating as Executive Vice President, Worldwide Operations.
Rand earned his B.A. degree in marketing from American University. He was a Sloan Fellow at Stanford University, where he also earned his M.B.A. degree.
Mathew, 50, is Senior Vice President and Chief Financial Officer of The Dun & Bradstreet Corporation (D&B), a leading provider of global business information tools and insight. She is also a member of D&B’s Global Leadership Team. Before joining D&B in 2001, she spent 18 years at Procter & Gamble in a range of finance and marketing roles, most recently as Vice President-Finance for Procter & Gamble’s Association of Southeast Asian Nations region.
Mathew earned her B.S. degree in physics, chemistry, and mathematics from the University of Madras, India; her master’s degree in accounting from the Institute of Cost and Works Accountants of India; and her M.B.A. degree in finance and marketing from Xavier University.
“We are delighted to have two outstanding business leaders with such wide-ranging experience join our Board,” said Campbell Chairman Harvey Golub. “Barry Rand brings consumer-driven business perspective from his experience at Avis and Xerox, while Sara Mathew brings financial leadership from D&B and global consumer packaged goods experience from Procter and Gamble. I am confident their perspectives and mature judgment will provide significant benefits to Campbell.”
Stewart, currently Visiting Professor at the Harris School, University of Chicago, and former President and Chief Executive Officer of The College Board, joined the Campbell Board in 1992.
Golub continued, “We thank Don Stewart for his contributions and many years of dedicated service to Campbell Soup Company. We have greatly benefited from the perspective Don has contributed to our work from his distinguished experience in the academic and not-for-profit worlds. We will miss his wisdom and judgment.”
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of high quality simple meals, including soup, baked snacks, vegetable-based beverages, and premium chocolate products.
Founded in 1869, the company has a portfolio of more than 20 market-leading brands, including “Campbell’s,” “Pepperidge Farm,” “Arnott’s,” “V8,” and “Godiva.” For more information on the company, visit Campbell’s website at www.campbellsoupcompany.com.
CONTACT: Campbell Soup Company John W. Faulkner (Media) (856) 342-3738 or Leonard F. Griehs (Analysts) (856-342-6428 SOURCE: Campbell Soup Company
