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Campbell Announces New Organization Structure for North American Business Units; Mark Sarvary is Named President of Campbell North America

Press Releases

CAMDEN, N.J.–(BUSINESS WIRE)–Feb. 12, 2004–Campbell Soup
Company (NYSE:CPB) today announced a new organization structure for
its North American business to enhance its marketplace momentum. The
alignment is designed to improve speed to market, better leverage
resources and increase efficiency. The new division, Campbell North
America, had sales of approximately $5 billion last fiscal year and is
comprised of the following business units:

    --  U.S. Soup, Sauces and Beverages, which includes U.S. soup,
        sauces, beverages and prepared foods

    --  Campbell Away From Home, and Canada, Mexico and Latin America

    --  Pepperidge Farm

    --  Godiva Worldwide

Mark Sarvary, who is being appointed Executive Vice President and
President–Campbell North America, will lead the new division. Sarvary
will report to Campbell’s President and Chief Executive Officer,
Douglas R. Conant.

Sarvary, 44, joined Campbell in 2002 as President of Pepperidge
Farm. Under his leadership, Pepperidge Farm has continued to deliver
solid growth. Sarvary, a former senior executive at Nestle USA, was
Chief Executive Officer of J. Crew Group, Inc. from 1999 to 2002.

Sarvary will be responsible for all North American operations and
for Godiva Worldwide. The presidents of the four business units will
report to Sarvary. A description of the units and their leadership

    --  U.S. Soup, Sauces and Beverages: This new business unit will
        include the U.S. soup, sauces and beverages businesses, and it
        will be responsible for Campbell's U.S. supply chain, research
        and development, and sales organizations. The new unit had
        sales of approximately $3 billion last fiscal year and
        includes such leading brands as Campbell's condensed soups,
        Campbell's Chunky, Select, and Soup at Hand ready-to-serve
        soups, and Swanson broths. It also includes V8 beverages, Pace
        Mexican sauces, Prego pasta sauces, and Franco American pasta
        and gravies.

Larry McWilliams is being appointed President–U.S. Soup, Sauces
and Beverages. McWilliams, 47, joined Campbell in February 2001 as
Chief Customer Officer. In August 2002 he was named President of North
America Soup, Campbell’s largest business. Under his leadership,
Campbell has strengthened its U.S. soup franchise through investments
in quality, consumer marketing, and new products and packaging,
including Campbell’s Soup At Hand, the highly successful single-serve,
microwavable soup. McWilliams joined Campbell from the Coca-Cola
Company where he was General Manager of the $1.3 billion Minute Maid

    --  Away From Home and Canada, Mexico and Latin America: This new
        unit includes Campbell's U.S. foodservice business as well as
        Campbell's businesses in Canada, Mexico and Latin America.
        Archie van Beuren is being appointed President--Away From Home
        and Canada, Mexico and Latin America. Since 1998, van Beuren,
        46, has been President of Godiva Chocolatier. He joined
        Campbell in 1983 and has held several marketing and management
        positions, including General Manager of Campbell's operations
        in the U.K.

    --  Pepperidge Farm: Pepperidge Farm is the market leader in
        premium bread, cookies and crackers in the U.S. Its leading
        brands include Goldfish crackers, Pepperidge Farm cookies and
        Farmhouse breads. Jay Gould, 44, Chief Marketing Officer of
        Pepperidge Farm, is being appointed President of Pepperidge
        Farm, succeeding Sarvary. Gould joined Campbell in December
        2002 from the Coca-Cola Company, where he was most recently
        Vice President--Portfolio Development and Innovation, Global
        Marketing Division.

    --  Godiva: Godiva is one of the most recognized luxury brands in
        the world. Jim Goldman is being appointed President of Godiva
        Chocolatier. Goldman, 45, came to Campbell in 2001 as
        President of North America Sauces and Beverages. Under his
        leadership, Campbell has strengthened businesses such as V8
        vegetable juices and Pace Mexican sauces. Goldman joined
        Campbell from Nabisco where he was President of the Lifesavers
        Candy Company.

    All appointments are effective March 15, 2004.

Commenting on the new North American organization structure,
Conant said, “We have made important progress during the past three
years, but there is much more that we can do. We must be more agile,
improve the speed of our decisions and have more integrated planning
and execution. We are determined to meet the needs of our consumers
and customers faster, better and more completely than the

“This is especially true in our U.S. soup, sauces and beverages
businesses. We have significantly strengthened the key brands in this
portfolio through focus and innovation. To improve our organization
agility and execution, we will more effectively integrate resources
from functional areas such as supply chain, research and development,
and sales. This new structure should make Campbell more competitive
and more responsive to our customers and consumers.”

Commenting on Sarvary’s appointment, Conant continued, “Mark
Sarvary is a talented executive who is adept at managing large and
complex consumer businesses with a focus on breakthrough thinking and
innovation. He has clearly demonstrated his ability to contribute to
Campbell’s transformation. In this new role, he will provide more
operational focus on our biggest businesses and enable me and our
corporate functional leaders to focus more attention on driving our
strategic agenda. I am confident that Mark, working closely with the
presidents of our North American business units and our corporate
executive team, will help Campbell continue to build momentum in the

Forward-Looking Statements

This release contains “forward-looking statements” which reflect
the company’s current expectations about its future plans and
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.

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of
high quality soup, sauce, beverage, biscuit, confectionery and
prepared food products. The Company is 134 years old, with nearly $7
billion in annual sales and a portfolio of more than 20 market-leading
brands. For more information on the company, visit Campbell’s website
on the Internet at

    CONTACT: Campbell Soup Company
             Jerry S. Buckley (Media), 856-342-6007
             Leonard F. Griehs (Analysts), 856-342-6428

    SOURCE: Campbell Soup Company
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