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Campbell Names Carolan as President, U.S. Retail and Hassett as Senior Vice President and General Manager, Away from Home

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Serrao Promoted and Will Continue to Lead Innovation Efforts

CAMDEN, N.J.–(BUSINESS WIRE)–Aug. 6, 2013–
Campbell Soup Company (NYSE:CPB) today announced the appointment
of Ed Carolan as President, U.S. Retail and Tim Hassett as Senior Vice
President and General Manager, Away from Home, and Chief Customer
Officer of Campbell North America. Both will report to Mark Alexander,
President – Campbell North America.

Alexander said, “Ed and Tim are outstanding leaders who have delivered
strong results throughout their Campbell careers. The company will
certainly benefit as they bring their experience and knowledge into
their new roles, to drive growth by strengthening our core business in
the U.S. and by expanding into faster-growing spaces.”

Carolan, 44, will assume responsibility for Campbell’s $3.5 billion U.S.
Soup, Sauces and Beverages business. Carolan joined Campbell in 2001 and
has led several significant businesses. Since 2011, he has led
Campbell’s core U.S. Soup and Simple meals business. Under Carolan’s
leadership, Campbell has delivered four consecutive quarters of growth
in U.S. Soup. Prior to that, Carolan served as General Manager –
Pepperidge Farm Snacks Division, with responsibility for the company’s
crackers and cookies business, where he accelerated growth behind Goldfish
crackers. From 2006 to 2009, he was General Manager of Campbell’s StockPot
and North America Foodservice business. Prior to joining Campbell,
Carolan spent five years in brand management positions at Procter &
Gamble in both the U.S. and Europe. Carolan earned a bachelor’s degree
in electrical engineering from the Georgia Institute of Technology and
an MBA from Harvard Business School.

Hassett, 49, will assume responsibility for leading Campbell’s North
America Foodservice business and its retail fresh soups and sauces
business, as well as expanding the availability of Campbell’s products
in the immediate consumption and e-commerce channels. In addition to the
Away From Home position, as Chief Customer Officer of Campbell North
America, Hassett will bring together sales teams to build strategic
joint business plans with Campbell’s customers in a unified fashion. He
joined Campbell in 2004. Most recently, Hassett served as Senior Vice
President, Sales – Campbell North America. Before that, he spent almost
seven years at Pepperidge Farm, first as Senior Vice President – Sales
and then as General Manager of the Fresh/Frozen Bakery business. In both
roles, Hassett’s teams delivered share and earnings growth. Prior to
Campbell, Hassett spent three years at Kellogg Company and earlier in
his career spent 15 years with Procter & Gamble in a variety of sales
and business unit roles. Hassett earned a bachelor’s degree in Marketing
/ Management from Siena College.

In addition to the leaders named today, Campbell North America
Innovation Vice President Darren Serrao has been promoted to Senior Vice
President, Innovation and New Business Development, where he will remain
focused on leading innovation, commercialization and new business
opportunities. Under Serrao’s leadership, Campbell has accelerated its
rate of innovation. He has led the launch of several new products
designed to expand into faster growing segments and appeal to new
consumer groups such as millennials.

About Campbell Soup Company

Campbell Soup Company is a manufacturer and marketer of high-quality
foods and simple meals, including soup and sauces, snacks and healthy
beverages. Founded in 1869, the company has a portfolio of
market-leading brands, including “Campbell’s,” “Pepperidge Farm,”
“Arnott’s,” “V8,” “Bolthouse Farms” and “Plum Organics.” Through its
corporate social responsibility program, the company strives to make a
positive impact in the workplace, in the marketplace and in the
communities in which it operates. Campbell is a member of the Standard &
Poor’s 500 and the Dow Jones Sustainability Indexes. For more
information, visit
or follow company news on Twitter via @CampbellSoupCo.

Source: Campbell Soup Company

Campbell Soup Company
Carla Burigatto (Media)
Driscoll (Analysts/Investors)

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