Campbell Soup CEO Steps Down, New COO Appointed

Douglas R. Conant, 59, who has served as President and Chief Executive Officer since January 2001, has advised the Board of Directors that he plans to step down as CEO of the Campbell Soup Company on July 31, 2011, the end of the company's fiscal year.

 

The Board has elected Denise M. Morrison, 56, executive vice president and chief operating officer, effective Oct. 1, 2010, in anticipation of her election to succeed Conant as CEO at the beginning of fiscal 2012. Morrison has also been elected a director of the company as of October 1.

 

"Doug has provided exceptional leadership to our company during the past decade," says Paul R. Charron, chairman of the Board of Directors. "He conceived and implemented a strategic vision that transformed Campbell into the focused, highly competitive business it is today. He has built a superb executive team. Through his extraordinary personal leadership, he has created an organization with world-class levels of employee engagement and a powerful commitment to win in the marketplace, the workplace and the community, all with the highest standards of integrity. The legacy of his wide-ranging contributions and sterling personal values will long endure at Campbell."

 

In her new role, Morrison will be responsible for leading all of the company's global businesses. The businesses in the North America Soup, Sauces and Beverages division, International division and Pepperidge Farm will report directly to her. Morrison will also oversee corporate strategy, research and development and global marketing services. Other corporate functions will continue to report to Conant.

 

Morrison has 35 years of experience in the consumer packaged goods industry. She joined Campbell in April 2003 as Chief Customer Officer and was appointed President of Campbell USA in 2005. She has been the President of North America Soup, Sauces and Beverages since October 2007.