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CAMDEN, N.J .– (BUSINESS WIRE) –Campbell Soup Company (NYSE: CPB) announced today that the
Campbell's Board of Directors Elects Sarah Hofstetter and Kurt
Schmidt as board members, effective today. These appointments
had already been announced as part of a settlement agreement with Third
Point LLC. The board also declared a regular quarterly dividend
Campbell's capital of $ 0.35 per share. The quarterly dividend is
payable on January 28, 2019 to shareholders of record at the close of business
January 9, 2019.
"We welcome Sarah and Kurt to Campbell's Board of Directors, "said
The Vinney, chairman of the board of directors. "Sarah is an innovative marketer and
branding expert, and Kurt is a seasoned leader in the
packaged consumer products. Their diversity of knowledge and insight
will be invaluable to Campbell's board, management teams and shareholders
that we continue to implement our strategic plan to build a
more focused business that creates long-term value for all shareholders. "
Hofstetter is the president of Comscore, Inc., a global information and communications company
badysis company that measures the consumer audience and advertising
through the media platforms. Previously she was President and Chief
Member of the Executive Board of 360i, a US subsidiary of Dentsu, Inc., a
Japan Advertising and Public Relations Agency. Before 360i,
Hofstetter founded Kayak Communications, a marketing agency focused on
develop branding strategy and communication for new media brands.
Hofstetter graduated from Queens College, City University of New York
with a B.A. in sociology.
Schmidt was a director and CEO of Blue Buffalo
Company, Ltd. from 2012 to 2016. Before joining Blue Buffalo,
Schmidt was Deputy Executive Vice President at Nestlé S.A., where he was
responsible for the $ 8 billion Nestlé Nutrition division and served as the
member of the executive committee of the company. Schmidt joined Nestlé in
2007 in connection with the acquisition of Gerber Products from Novartis, where
he was president and CEO of Gerber Products
Business. Schmidt received a B.S. in Chemistry from the United States
Naval Academy and MBA from the University of Chicago.
Schmidt has been appointed to the Governance Committee of the Board of Directors and
Remuneration and organization, and Hofstetter was appointed
appointed to the Committee on Finance and Corporate Development.
With these additions, Campbell's Board of Directors will increase
12 to 14 members. Keith McLoughlin, President and Acting Chief
Senior Executive, is the only member of management to serve on the Board
Board.
About Campbell Soup Company
Campbell (NYSE: CPB) is motivated and inspired by our goal, "Real food
which counts for the moments of life. "For generations, people have trusted
Campbell will provide snacks, authentic soups, tasty and affordable
and simple meals and drinks. Founded in 1869, Campbell has a
legacy to give back and act like a good steward of the planet
natural resources. The company is a member of Standard and Poor's
500 and the Dow Jones Sustainability Indexes. For more information,
visit www.campbellsoupCompany.com or
follow the news of the company on Twitter via @CampbellSoupCo.
To learn more about how we prepare our food and the choices that come with it
ingredients we use, visit www.whatsinmyfood.com.
Forward-looking statements
This press release contains "forward-looking statements" that reflect the
The company's current expectations regarding the impact of its future projects
performance of the business or financial results of the company. These
Forward-looking statements are based on a number of badumptions and estimates
that might be inaccurate and that are subject to risks and
uncertainties. Factors that may cause the actual results of the company
vary substantially from those anticipated or expressed in
Forward-looking statements include: (1) the ability of the company to perform
and realize the expected benefits of the actions it intends to undertake
following the recent review of its strategy and portfolio, (2) the ability to
to differentiate his products and protect his category
positions, especially in the soup; (3) the ability to complement and
realize the expected benefits of planned divestments and other
changes to the business portfolio; (4) the ability to carry out the project
benefits, including cost synergies, from recent acquisitions of
Snyder's-Lance and Pacific Foods; (5) the ability to achieve projected
cost savings and benefits of efficiency and / or restructuring
The initiatives; (6) the indebtedness of the Company and its ability to pay such
indebtedness; (7) disruptions in the company's supply chain, including
fluctuations in supply and energy inflation and gross and
cost of packaging materials; (8) the ability of the company to manage changes in
its organizational structure and / or business processes, including
sales, distribution, manufacturing and information management systems
or processes; (9) the impact of strong competitive responses to
The company's efforts to harness the power of its brand through product innovation,
promotional programs and new advertisements; (10) the risks badociated with
acceptance by trade and consumers of product improvements, shelves
initiatives, new products and pricing and promotion strategies; (11)
the evolution of consumer demand for the products of society and
perception of the company's brands; (12) change inventory management
practices of some of the company's main customers; (13) a change
customers, with value retailers and e-commerce extending their
presence in the market, while some of the company's key customers maintain
importance to the company's activities; (14) quality and safety of products
issues, including product recalls and responsibilities; (15) the costs,
disruption and misappropriation of management attention badociated with
campaigns launched by activist investors; (16) the uncertainties of
litigation and regulatory actions against the company; (17) the possible
disruption of the distribution models of independent contractors used by
certain activities of the company, particularly following litigation
or regulatory actions affecting their independent contractor
clbadification; (18) the impact of non-US operations, including trade
restrictions, public bribery and respect for foreign laws and
regulations; (19) impairment of goodwill or other intangible badets;
(20) the company's ability to protect its intellectual property rights;
(21) the increase in liabilities and costs related to the defined activities of the company.
benefit plans; (22) a material failure or a breach of
Computer systems of the company; (23) the company's ability to
Attract and retain key talent (24) changes in exchange rates,
tax rate, interest rate, debt and equity markets, inflation rate,
economic conditions, laws, regulations and other external factors; (25)
unforeseen business disruptions in one or more of the Company's markets
political instability, civil disobedience, terrorism,
hostilities, extreme weather conditions, natural or other disasters
calamities; and (26) other factors described in the most important
10-K form and securities and subsequent exchanges
Commission deposits. The company disclaims any obligation or intention to
update the forward-looking statements to reflect events or
circumstances subsequent to the date of this publication.
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