CAMDEN, N.J.–(BUSINESS WIRE)–Oct. 4, 2007–Campbell Soup Company
(NYSE:CPB) today announced a realignment of its North American
business to streamline the company’s management structure.
The company’s U.S. Soup, Sauces, and Beverages retail businesses
(Campbell USA), North America Foodservice and StockPot, and the
business in Canada will now comprise an organization known as North
America Soup, Sauces, and Beverages. The three business units in the
new organization had sales of approximately $4.5 billion last year.
Denise Morrison, who is being appointed President-North America
Soup, Sauces, and Beverages, will lead the new organization. She will
report to President and Chief Executive Officer, Douglas R. Conant.
Morrison, 53, joined Campbell in April 2003 as President-Global Sales
and Chief Customer Officer, and was appointed President-Campbell USA
Under the new structure, the company’s Pepperidge Farm and Godiva
Chocolatier businesses will now report directly to Conant.
Campbell also announced that Mark Sarvary, Executive Vice
President and President-Campbell North America, will leave the
company. Sarvary joined Campbell in 2002 as President of Pepperidge
Farm and has been in his current position since 2004.
Commenting on the realignment, Conant said, “Denise Morrison has
provided excellent leadership as President-Campbell USA, and prior to
that, as our Chief Customer Officer. I am confident that Denise will
continue to drive strong marketplace and workplace performance in her
new and expanded leadership role.”
Conant continued, “Our businesses in North America, under Mark
Sarvary’s leadership, delivered another strong performance this past
year. We have good momentum in the marketplace in our core categories
of simple meals, including soup, as well as baked snacks, and
vegetable-based beverages. We are well positioned to build on this
performance. I want to thank Mark for the many contributions he has
made to Campbell and wish him well in the future. He has done an
Conant concluded, “Just as we have strengthened our North American
portfolio, we have also improved the performance of our international
businesses under the leadership of Larry McWilliams, President of
Campbell International. Our tighter focus on simple meals in Europe
and baked snacks in Asia Pacific is paying off. In addition, we are
taking significant steps to pursue promising global growth
opportunities with our entry into China and Russia.”
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of
high quality foods and simple meals, including soup, baked snacks,
vegetable-based beverages, and premium chocolate products, with annual
revenues in excess of $7.8 billion. Founded in 1869, the company has a
portfolio of market-leading brands, including “Campbell’s,”
“Pepperidge Farm,” “Arnott’s,” “V8,” and “Godiva.” For more
information on the company, visit Campbell’s website at
This release contains “forward-looking statements” which reflect
the company’s current expectations about its future performance. These
forward-looking statements rely on a number of assumptions and
estimates which could be inaccurate and which are subject to risks and
uncertainties. Actual results could vary materially from those
anticipated or expressed in any forward-looking statement made by the
company. Please refer to the company’s most recent Form 10-K and
subsequent filings for a further discussion of these risks and
uncertainties. The company disclaims any obligation or intent to
update the forward-looking statements in order to reflect events or
circumstances after the date of this release.
CONTACT: Campbell Soup Company
Anthony Sanzio (Media)
Leonard F. Griehs (Analysts)
SOURCE: Campbell Soup Company
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