Larry Mcwilliams Of Coca-Cola To Lead Sales And Customer Service

Patrick O’malley Of Nabisco To Head Global Supply Chain

CAMDEN, N.J., FEBRUARY 27, 2001—Campbell Soup Company (NYSE:CPB) today announced the appointment of two senior executives to newly created positions reporting to President and Chief Executive Officer Douglas R. Conant. The appointments are part of Conant’s reorganization of Campbell’s corporate structure to improve functional support provided to its individual business units and strengthen the company’s overall performance. Conant was named CEO of Campbell on January 8, 2001.

The new executives are:

Larry S. McWilliams, 44, Senior Vice President—Sales, Chief Customer Officer. McWilliams joins Campbell from The Coca-Cola Company where he was Senior Vice President and General Manager of The Minute Maid Company, in charge of U.S. sales and marketing for the $1.7 billion beverage business. At Campbell, McWilliams will share with the business units direct operating responsibility for all sales and customer service organizations in North America. He will partner with Campbell business units in Europe and Asia Pacific on sales strategy and create a corporate-wide office of industry and customer relations. His appointment is effective March 12.

Patrick O’Malley, 51, Vice President—Global Supply Chain. O’Malley comes to Campbell from Nabisco, Inc. where he was Senior Vice President of Operations for Nabisco Foods Company. At Campbell, O’Malley will share direct operating responsibility with all business units worldwide for the management of the company’s supply chain, including procurement, manufacturing and logistics. Campbell has 40 manufacturing operations worldwide and spends more than $4 billion annually in the purchase of goods and services. O’Malley’s appointment is effective March 1.

Commenting on today’s appointments, Conant said, “The dramatic changes in the food industry landscape have created new strategic imperatives for our company. These changes demand that we find new ways to compete and to leverage our scale, particularly in certain core support functions such as sales and supply chain. Strengthening our functional capability across key disciplines will enhance the performance of our business units and facilitate the sharing of best practices across the organization. This new organization structure is a critical element of our plan to transform Campbell Soup Company and return to the top tier of our industry.”

Conant added, “I am delighted that two dynamic industry leaders will be joining our team. I have known Larry McWilliams and Pat O’Malley for many years and have the highest regard for their outstanding experience, results and leadership abilities. Larry’s excellent relationship with customers and his extensive knowledge of food and beverage distribution channels will be a major asset to Campbell. Similarly, Pat’s wide experience at both the operating and corporate level and his track record for delivering results will make him a valuable addition to our company.”

McWilliams brings to Campbell more than 20 years of sales experience at consumer products companies. Prior to Coca-Cola, he held senior sales positions at The Pillsbury Company, The Drackett Company, formerly a subsidiary of Bristol-Myers Squibb, and General Foods. McWilliams is a native of Texas who earned his Bachelor of Science degree at Texas A&M University.

McWilliams said, “Campbell is poised to do great things and I am looking forward to being a part of its resurgence. The opportunity to work directly with Doug Conant is a big reason for my decision to join Campbell.”

O’Malley has 22 years of manufacturing experience in the food industry. As head of operations for Nabisco Foods, he was in charge of 21 manufacturing plants with 6,000 employees in the U.S. and Canada. At Nabisco, O’Malley also served as director of operations and purchasing for the Planters Nut Company and has extensive experience in directly managing plant operations. A native of Illinois, O’Malley holds a Bachelor of Science degree from Elmhurst College.

O’Malley said, “I have worked closely with Doug Conant and have great admiration for his leadership skills. I am eager to get started and to work with the talented people across the Campbell organization to deliver strong performance.”

Earlier this month, Campbell named Robert A. Schiffner as its new Chief Financial Officer. At that time, Conant also announced the creation of a new senior-level position to oversee corporate strategy, business development and information systems. Previously, those responsibilities were overseen by the company’s CFO. Schiffner began at Campbell on February 26. Campbell is currently conducting a search to fill the new position, which will also report directly to Conant.

Forward – Looking Statements

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.

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of premium quality soup, sauces, beverages, biscuits, confectionery, and prepared food products. The company owns a portfolio of more than 20 market-leading brands each with more than $100 million in sales. They include “Campbell’s” soups worldwide, “Erasco” soups in Germany and “Liebig” soups in France, “Pepperidge Farm” cookies and crackers, “V8” and “V8 Splash” juices, “Pace” Mexican sauces, “Prego” pasta sauces, “Franco American” pastas, “Swanson” broths, “Homepride” sauces in the United Kingdom, “Arnott’s” biscuits in Australia and “Godiva” chocolates around the world. The company is ably supported by more than 22,000 employees worldwide. For more information on the company, visit Campbell’s website on the Internet at www.campbellsoup.com.

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