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Campbell Announces Management Changes in Campbell Fresh Division and Integrated Global Services

Ed Carolan Appointed President of C-Fresh, Succeeding Jeff Dunn Who
Departs to Become CEO of Juicero

Bethmara Kessler Appointed Senior Vice President of IGS

CAMDEN, N.J.–(BUSINESS WIRE)–Oct. 17, 2016–
Campbell Soup Company (NYSE:CPB) today announced the appointment
of Ed Carolan as President – Campbell Fresh (C-Fresh). Carolan, 47, will
lead the division that includes Bolthouse Farms beverages, salad
dressings and carrots, Garden Fresh Gourmet salsa, hummus and
dips, and fresh soup, which combined account for approximately $1
billion in net sales.

Carolan will succeed Jeff Dunn, who is leaving Campbell to become Chief
Executive Officer of Juicero, Inc., the San Francisco-based startup that
recently launched the first professional-quality, connected countertop
cold-press juicer. Campbell has invested $13.5 million in Juicero, which
is focused on inventing products, services and experiences that help
people consume more fresh fruits and vegetables.

Dunn also will remain involved in Acre Venture Partners, the independent
venture capital operation to which Campbell committed $125 million in
2016, as a venture partner. Additionally, Campbell will retain its seat
on Acre’s investment committee, as well as its board observer seat at
Juicero. Both positions will be held by Adam Ciongoli, Campbell’s
General Counsel.

Commenting on Dunn’s departure, Campbell’s President and Chief Executive
Officer Denise Morrison said, “Jeff has made important contributions to
Campbell during his time with the company. We wish him well as he
embarks on a new and exciting chapter of his career, and I look forward
to continuing to collaborate with him through Acre Venture Partners and
in his new role at Juicero.”

Carolan and Dunn will work together to manage the transition over the
next several weeks.

Commenting on Carolan’s appointment, Morrison said, “Ed is an excellent
leader who has played a critical role as we pursue Campbell’s strategic
imperatives and transform the way we work. He brings both strategic
insights and deep experience as a hands-on operator with a long track
record of delivering outstanding business results. In his new role, he
will be supported by a strong and seasoned leadership team at C-Fresh. I
am confident that Ed and the team will continue to expand our presence
in the faster-growing packaged fresh category.”

Carolan joined Campbell in 2001 and has successfully led several
significant businesses and functions. Most recently, he served as
President of Integrated Global Services (IGS). Formed in January 2015,
IGS is Campbell’s global shared services organization focused on
building enterprise capabilities while lowering costs. In that role,
Carolan created and implemented a business model designed to unlock
value for the company, build new capabilities and deliver faster and
more efficient services. Under Carolan’s leadership, IGS drove cost
savings that contributed to the company’s gross margin expansion and
record cash flow from operations in fiscal 2016.

Earlier in his career, as President, U.S. Retail, Carolan was
responsible for Campbell’s $3.6 billion U.S. Soup, Sauces and Beverages
business. He also led the U.S. Soup and Simple Meals business for
Campbell, where he drove five consecutive quarters of growth in U.S.
soup, including 5 percent growth in fiscal 2013. Previously, he served
as General Manager – Pepperidge Farm Snacks Division, leading the
crackers and cookies business, where he accelerated growth behind Goldfish crackers.
From 2006 to 2009, he was General Manager of Campbell’s StockPot® fresh
soup and North America Foodservice businesses.

Before joining Campbell, Carolan spent five years in brand management at
Procter & Gamble. He earned a Bachelor of Science degree in electrical
engineering from the Georgia Institute of Technology and a Master of
Business Administration from Harvard Business School.

Kessler To Lead IGS

Bethmara Kessler, previously Vice President, Corporate Audit, was named
Senior Vice President of IGS, succeeding Carolan. Kessler will join
Campbell’s Leadership Team and will become a corporate officer.

Kessler joined Campbell as Vice President, Corporate Audit in 2014 from
Warner Music Group, where she had served as Senior Vice President,
Internal Audit, and Co-Chief Compliance Officer. Before that, she
co-founded and worked for the Fraud and Risk Advisory Group, a
consulting firm. Earlier in her career, she served on the executive
leadership team at Limited Brands. She also played a key role in helping
implement the company’s shared services processes and capabilities.

Kessler earned a Bachelor of Business Administration degree in
accounting from Baruch College of the City University of New York. She
is a certified fraud examiner and a certified information systems
auditor. She is a member of the Association of Fraud Examiners,
Institute of Internal Auditors and Information Systems Audit & Control
Association.

Morrison said, “IGS is a critical part of our efforts to build
capabilities and reduce costs to unlock the growth potential of our
business. Bethmara is a strong leader with experience in running a
shared services organization and implementing enterprise processes that
deliver results. Her wealth of experience in strengthening capabilities,
fostering talent and leading teams will be an asset to Campbell as she
leads IGS to help accelerate our performance.”

The positions are effective Nov.1, 2016.

About Campbell Soup Company

Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food
that matters for life’s moments.” We make a range of high-quality soups
and simple meals, beverages, snacks and packaged fresh foods. For
generations, people have trusted Campbell to provide authentic,
flavorful and readily available foods and beverages that connect them to
each other, to warm memories and to what’s important today. Led by our
iconic Campbell’s brand, our portfolio includes Pepperidge
Farm, Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal
Dansk, Kjeldsens
and Garden Fresh Gourmet. Founded in 1869,
Campbell has a heritage of giving back and acting as a good steward of
the planet’s natural resources. The company is a member of the Standard
& Poor’s 500 and the Dow Jones Sustainability Indexes. For more
information, visit www.campbellsoupcompany.com
or follow company news on Twitter via @CampbellSoupCo.
To learn more about how we make our food and the choices behind the
ingredients we use, visit www.whatsinmyfood.com.

Source: Campbell Soup Company

Campbell Soup Company
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Ken
Gosnell
856-342-6081
[email protected]
or
MEDIA
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856-342-3737
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