– USA, NJ – Campbell Soup Company (NYSE:CPB) today announced that the Campbell Board of Directors has elected Sarah Hofstetter and Kurt Schmidt as members of the Board, effective today. These appointments were previously announced as part of a settlement agreement with Third Point LLC.
Schmidt has been appointed to the Board’s Governance Committee and the Compensation and Organization Committee, and Hofstetter has been appointed to the Finance and Corporate Development Committee.
With these additions, Campbell’s Board of Directors will increase from 12 to 14 members. Keith McLoughlin, interim President and Chief Executive Officer, is the only member of management who sits on the Board.
“We welcome both Sarah and Kurt to Campbell’s Board of Directors,” said Les Vinney, Chairman of the Board. “Sarah is an innovative marketing and brand strategy expert, and Kurt is a seasoned executive within the consumer-packaged goods industry. Their diverse knowledge and insight will be invaluable to Campbell’s Board, management team and shareholders as we continue to execute on our strategic plan to build a stronger and more focused company that creates long-term value for all shareholders.”
About Sarah Hofstetter
Hofstetter is the President of Comscore, Inc., a global information and analytics company that measures consumer audiences and advertising across media platforms. She previously served as Chairwoman and Chief Executive Officer of 360i, a U.S. advertising arm of Dentsu, Inc., a Japanese advertising and public relations agency. Prior to 360i, Hofstetter founded Kayak Communications, a marketing agency focused on developing brand strategy and communications for new media brands. Hofstetter graduated from Queens College, City University of New York with a B.A. in Sociology.
About Kurt Schmidt
Schmidt served as a director and Chief Executive Officer of Blue Buffalo Company, Ltd. from 2012 through 2016. Prior to 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 a member of the company’s Executive Committee. Schmidt joined Nestlé in 2007 as part of its acquisition of Gerber Products from Novartis, where he was the President and Chief Executive Officer of Gerber Products Company. Schmidt received a B.S. in Chemistry from the United States Naval Academy and an MBA from the University of Chicago.
About Campbell Soup Company
Campbell 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, visit www.campbellsoupCompany.com
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