Campbell Outlines New Strategic Direction

Campbell Soup Company outlines a new strategic direction at a meeting with investors led by Chief Operating Officer Denise Morrison, who will become the company's President and Chief Executive Officer on Aug. 1, 2011. A web cast of the presentation will be available at investor.campbellsoupcompany.com.

 

"During the past nine months, Campbell's new leadership team has worked closely with the Board of Directors on a comprehensive strategic review in which we have examined our business with fresh eyes, and charted a new course for our company," Morrison says. "Our central mission and overarching priority is long-term value creation for our shareholders. We believe that the strategic transition we are announcing today will set the stage for a new chapter of profitable net sales growth and sustainable growth in total shareholder returns."

 

Campbell's new business strategy will focus on expansion of the company's category platforms in its three core categories of simple meals, baked snacks and healthy beverages; consumer-driven innovation in products and packaging as the primary driver of organic growth; and expansion of the company's international presence, particularly in emerging markets.

 

"Implementing our new strategic direction will require substantial investment to fund our new innovation process, accelerate innovation across our portfolio and reinvigorate consumer-focused marketing to expand the equities of important brands," says Morrison. "Thus, fiscal 2012 will be a year of transition and investment, in which we will build the foundation for a sustainable, profitable growth trajectory in fiscal 2013 and beyond."