Newly Created Organization Will Support Company’s Business Divisions,
Improving Efficiency and Effectiveness

CAMDEN, N.J.–(BUSINESS WIRE)–Mar. 31, 2015–
Campbell Soup Company (NYSE:CPB) today announced the appointment
of Ed Carolan as Senior Vice President of Integrated Global Services
(IGS). The creation of IGS is a key step in Campbell’s efforts to reduce
costs and elevate operational excellence by delivering a range of
transactional and knowledge-based services at an enterprise level rather
than within each division. The IGS organization will allow Campbell to
standardize these services, including elements of Finance, Information
Technology, Human Resources and other functions, and increase its
strategic capabilities. IGS will also enable the company’s divisions to
focus on developing and executing strategies that enhance marketplace
competitiveness. Campbell is currently in the process of designing IGS
and expects its full implementation may require up to three years.

Carolan, 46, who currently serves as Campbell’s President, U.S. Retail,
will report to Campbell’s President and Chief Executive Officer Denise
Morrison and become a member of Campbell’s Leadership Team. His
promotion is effective April 1, 2015.

Campbell recently announced a new enterprise structure and major cost
reduction initiative to help unlock growth and to generate annual cost
savings of at least $200 million over a three-year period. The company
plans to reorganize its business operations into three divisions to
align the organization with the company’s core growth strategies. These
divisions — Americas Simple Meals and Beverages, Global Biscuits and
Snacks, and Packaged Fresh — are structured principally by product
categories rather than by geographies or brands.

“The development of Integrated Global Services is another milestone in
our efforts to unlock the value of our brands and the growth potential
of our business,” said Morrison. “Building capabilities at the
enterprise level and creating dedicated centers of excellence within IGS
will help us identify, innovate and implement services that better
support our business needs. It will also provide us with greater
flexibility to reinvest resources to create value, whether it’s
strengthening our core Americas business, expanding our Global Biscuits
and Snacks business or growing our presence in the retail perimeter
through our Packaged Fresh division.”

Carolan joined Campbell in 2001 and has successfully led several
significant businesses. As President, U.S. Retail, Carolan was
responsible for the company’s $3.6 billion U.S. Soup, Sauces and
Beverages business. Previously, Carolan 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.

Morrison continued, “Ed is a superb leader who understands our company
and its strategic business imperatives. He will be a strong partner to
our divisional and functional leaders as we work to implement our new
enterprise structure.”

Before joining Campbell, Carolan spent five years in brand management at
Procter & Gamble in the United States and Europe. Carolan 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.

About Campbell Soup Company

Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food
that matters for life’s moments.” The company makes a range of products
from high-quality soups and simple meals to snacks and healthy
beverages. 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 its iconic Campbell’s brand, the company’s
portfolio includes Pepperidge Farm, Goldfish, Bolthouse
Farms, V8, Swanson, Prego, Pace, Plum
Organics, Arnott’s, Tim Tam, Royal Dansk and Kjeldsens.
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.

Forward-Looking Statements

This release contains “forward-looking statements” that reflect the
company’s current expectations about the impact of its future plans and
performance on the company’s business or financial results. These
forward-looking statements include statements made regarding the
company’s new integrated global services organization, enterprise
structure and cost reduction initiative. Forward-looking statements rely
on a number of assumptions and estimates that could be inaccurate and
which are subject to risks and uncertainties. The factors that could
cause the company’s actual results to vary materially from those
anticipated or expressed in any forward-looking statement include (1)
the company’s ability to manage organizational change effectively; (2)
the company’s ability to realize projected benefits and cost savings
from the new integrated global services organization and/or enterprise
structure; (3) the impact of strong competitive responses to the
company’s efforts to leverage its brand power in the market; (4) the
impact of changes in consumer demand for the company’s products; (5) the
risks associated with trade and consumer acceptance of the company’s
initiatives, including its trade and promotional programs; (6) the
practices and increased significance of certain of the company’s key
trade customers; (7) the impact of fluctuations in the supply or costs
of energy and raw and packaging materials; (8) the impact of portfolio
changes; (9) the uncertainties of litigation; (10) the impact of changes
in currency exchange rates, tax rates, interest rates, debt and equity
markets, inflation rates, economic conditions and other external
factors; (11) the impact of unforeseen business disruptions in one or
more of the company’s markets due to political instability, civil
disobedience, armed hostilities, natural disasters or other calamities;
and (12) other factors described in the company’s most recent Form 10-K
and subsequent Securities and Exchange Commission filings. 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.

Source: Campbell Soup Company

Campbell Soup Company
INVESTOR:
Jennifer
Driscoll, 856-342-6081
[email protected]
MEDIA:
Carla
Burigatto, 856-342-3737
[email protected]

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