Les Vinney to Retire as Chairman of Campbell’s Board of Directors; Keith McLoughlin to Become Chairman
March 28 2019 - 3:30PM
Business Wire
Campbell Appoints J.P. Bilbrey, Former CEO
of Hershey, to Board of Directors; Sara Mathew to Retire
Campbell Soup Company (NYSE:CPB) announced today that Les
C. Vinney has chosen to retire as Chairman of the Board and as a
director. The Board of Directors has elected Keith R. McLoughlin to
succeed Vinney as Chairman. The Board also announced the
appointment of J.P. Bilbrey, former Chief Executive Officer (CEO)
of The Hershey Company, to the Board, as well as the retirement of
Sara Mathew.
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Keith McLoughlin (Photo: Business
Wire)
Vinney, 70, has chosen to retire from the Campbell Board due to
other personal commitments. He joined the Board in 2003 and has
served as Chairman since 2015. Vinney was formerly President and
CEO of STERIS Corporation, a leading provider of medical supplies.
Before joining STERIS, Vinney was Senior Vice President and Chief
Financial Officer at Goodrich Corporation.
McLoughlin, 62, has been a Campbell director since 2015 and
recently served as Campbell’s Interim President and CEO from May
2018 until January 2019, where he oversaw the Board-led strategy
and portfolio review. He stepped down from the interim role in
January 2019 when Mark Clouse began as President and CEO. Before
joining Campbell’s Board, McLoughlin was President and CEO of AB
Electrolux and spent more than 20 years in senior leadership roles
at E. I. duPont de Nemours and Company.
Vinney said, “It has been an honor to serve as a director and as
Chairman of the Campbell Soup Company. The Board is fortunate to
have a strong and capable leader in Keith, whose steady direction
has been indispensable over the last year. He has been an advisor
and asset to me, our fellow Board members, Campbell’s leadership
team and our employees. His role as Interim President and CEO of
Campbell make him uniquely qualified and the logical choice to take
on the role of Chairman at this important time in Campbell’s
history.”
McLoughlin said, “I am honored to serve as Chairman of a company
with iconic brands and many talented employees whom I have come to
know well in the last year. During my time as Interim President and
CEO, I gained a deeper knowledge of the company’s operations, and
in working closely with leadership, believe we have made
significant progress in focusing the company. I look forward to
continuing to work with Mark, the Campbell Leadership Team and my
fellow directors as we continue to transform Campbell and create
shareholder value.”
McLoughlin continued, “Les has made many important contributions
during his 16 years on the Campbell Board and provided critical
leadership during a pivotal period in our company’s history. On
behalf of the entire Campbell Board of Directors, we thank Les for
his service and wish him well in retirement.”
Former Hershey CEO J.P. Bilbrey Appointed to Campbell
Board
Bilbrey, 62, served as President and CEO of The Hershey Company
from 2011 to 2017 and Chairman of the Board from 2015 to 2018.
Before becoming CEO of Hershey, Bilbrey served as Chief Operating
Officer and Executive Vice President from 2010 to 2011 and was
Senior Vice President and President, Hershey North America from
2007 to 2010. Prior to joining Hershey in 2003 as Senior Vice
President, Hershey International, Bilbrey held senior leadership
positions at Mission Foods and Danone Waters of North America, Inc.
after more than 20 years at The Procter & Gamble Co.
McLoughlin said, “We are thrilled to welcome J.P. and his 40
years of experience in the food industry to Campbell’s Board as
part of our ongoing director refreshment process. His extensive
knowledge of the changing consumer landscape and the North American
market will be a tremendous asset to our Board.”
Sara Mathew to Retire from Campbell Board
Mathew has chosen to retire from the Campbell Board after more
than a decade of service. She joined the Board in 2005 and has
served as Chair of the Audit Committee during her tenure.
McLoughlin said, “On behalf of the Board, we thank Sara for her
many contributions through the years and wish her all the very
best.”
McLoughlin’s appointment to Chairman is effective immediately.
Vinney will remain a director until his retirement on April 15,
2019. Mathew’s retirement is also effective April 15, 2019.
Bilbrey’s appointment is effective in May 2019.
About Campbell Soup Company
Campbell (NYSE:CPB) is driven and inspired by our Purpose, "Real
food that matters for life's moments." For generations, people have
trusted Campbell to provide authentic, flavorful and affordable
snacks, soups and simple meals, and beverages. 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 and Poor's 500 and the Dow Jones Sustainability Indexes.
For more information, visit www.campbellsoupcompany.com or follow
company news on Twitter via @CampbellSoupCo. To learn more about
how we make our food and the choices behind the ingredients we use,
visit www.whatsinmyfood.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190328005871/en/
INVESTOR CONTACT:Ken Gosnell(856)
342-6081Ken_Gosnell@campbellsoup.com
MEDIA CONTACT:Thomas Hushen(856)
342-5227Thomas_Hushen@campbellsoup.com
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