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Campbell launches next chapter of growth at fiscal 2025 Investor Day
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Wednesday, 25 September, 2024, 12 : 00 PM [IST]
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New York, USA
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Campbell Soup Company held an Investor Day at the Nasdaq MarketSite in New York city where its management team reviewed progress against the company’s transformation and outlined plans for the next era of accelerated growth.
Since 2019, the company has made significant progress in three key areas:
- Transformed portfolio. Shifted focus to advantaged core categories and geographies critical to fueling net sales and earnings growth, including the acquisition of Sovos Brands.
- Rebuilt the foundation. Taken significant steps in improving its execution and capabilities, touching nearly every aspect of the company, including assembling an exceptional leadership team, enhancing the culture and turning its supply chain into a competitive advantage.
- Delivered on commitments. Built trust by consistently delivering strong financial results, while also outperforming consumer packaged goods peers on many key performance indicators.
Mark Clouse, Campbell’s president and chief executive officer, said, “For the last five years, we have been on a transformative journey to redefine our company. Our focused strategy has positioned us well and helped to solidify a foundation that has delivered consistent and dependable results. We are ready to turn the page and enter a new chapter where we build on Campbell’s transformed portfolio, strong team, and aligned and engaged culture with the goal to set the standard for performance in the food industry.”
Mark Clouse, chief executive officer; Carrie Anderson, chief financial officer; Chris Foley, president, Snacks and Mick Beekhuizen, president, Meals & Beverages laid out the next phase of its growth plans, including a new long-term growth algorithm to grow shareholder value.
The company aims to set the standard for performance in the industry with a new strategy, new mission and new name. As part of its evolution and transformed portfolio, the company intends to change its name to The Campbell’s Company, subject to shareholder approval at its annual meeting of shareholders in November.
“This subtle yet important change retains the company’s iconic name recognition, reputation and equity built over 155 years while better reflecting the full breadth of the company’s portfolio,” concluded Clouse.
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