February 19, 2016 |
Campbell Soup Co. has committed $125 million to new venture capital fund, with the goal of investing in startups that are transforming the food industry from farms to home delivery, the Camden company's chief executive officer told analysts Wednesday. Denise Morrison, the CEO, said that since 2010 about 400 startups in the food industry had received about $6 billion in venture-capital funding. "To date our participation in that space has been limited," she said, citing Campbell's unspecified investment in Juicero Inc., a startup developing a new technology for juicing fruits and vegetables, according to a 2014 patent application.
July 20, 2011
Eight days after it said it was adding salt to many of its soups to enhance their taste and the company's sales, Campbell Soup Co. on Wednesday tweaked its message for consumers - this time, emphasizing choice. The Camden company said it will continue to sell lower-sodium soups, juices and sauces, including some new varieties. "It's vital we provide people with a choice," said Denise Morrison, Campbell chief operating officer, who will become chief executive on Aug. 1. - Paul Schweizer
June 26, 2012 |
Campbell Soup Co., of Camden, has hired Accenture to handle back-office financial operations, such as credit, billing and collections, and will eliminate about 70 of the 110 jobs in its Cherry Hill office over the next eight to ten months, Campbell spokesman Anthony Sanzio said. Sanzio did not provide an estimate of how much the move would save, but said the savings would be "significant. " Under new chief executive Denise Morrison, Campbell is attempting to rebound from a protracted growth slump, but its stock continues to struggle.
March 18, 2013
On hearing that his daughter had just been named CEO of Campbell Soup Co., Denise Morrison's father congratulated her and then asked: "What's your next goal?" For many of us, being named the head of a Fortune 500 company would be the culmination of a long, hard climb, validation of our success. But that's not how Morrison, 59, and her three sisters were raised in the coastal community of Elberon, N.J. Dinner conversation with Dennis Sullivan, an AT&T executive as well as a father, delved into marketing plans, focus groups, and the art of negotiation, Morrison said.
June 23, 2011 |
As expected, Campbell Soup Co. named Denise Morrison president and chief executive, effective Aug. 1, succeeding Douglas R. Conant, who served more than 10 years in that role, the company said Thursday. Morrison, who joined the Camden company that also makes V8 juices and Pepperidge Farm baked goods in 2003, was promoted to chief operating officer last October, in anticipation of her likely elevation to the top job. Morrison, 57, said that during her time as COO she visited Campbell operations that previously did not report to her as president of Campbell's largest unit, North American soup, sauces and beverages.
November 21, 2012 |
Campbell Soup Co. first-quarter revenue rose 8 percent mostly because of new products in its portfolio with the recent acquisition of Bolthouse Farms of California but profits fell because of transaction and restructuring costs. Denise Morrison, the chief executive officer who was hired in 2011 to jolt the company into a higher-growth mode, said in a conference call the Camden company introduced 50 new products this year, compared with three in 2010, and is targeting younger consumers.
November 22, 2012 |
Campbell Soup Co.'s first-quarter revenue rose 8 percent, mostly because of new products in its portfolio through the recent acquisition of Bolthouse Farms of California. But profits declined on transaction and restructuring charges. The sales of V8 juice declined but important U.S. soups climbed 2 percent. The company told investors that supermarket chains and retail stores seemed to stock inventory of Campbell ready-to-serve soup and broth products early for Thanksgiving so that the current quarter's profit growth may lag full-year projections.
September 3, 2011 |
Better-than-expected financial results from Campbell Soup Co. for its fourth quarter were not enough to keep its stock price from sagging ahead of the Labor Day holiday. Shares closed at $31.46, down 40 cents, or 1.3 percent, on a day when the major U.S. equity indexes slumped by at least 2.1 percent after the release of a weak report on August employment. Campbell Soup's sales for the three months ended July 31 were $1.61 billion, up 6 percent from $1.52 billion for the fourth quarter a year ago. Net income of $100 million, or 31 cents per share, was down 12 percent from $113 million, or 33 cents per share.
May 24, 2013 |
Continuing its efforts to shift into faster-growing areas of the supermarket, Campbell Soup Co. said Thursday that it had reached an agreement to buy Plum Organics, a California producer of baby foods and snacks for toddlers and older children. Campbell did not say what it agreed to pay for Plum, owned by the venture-capital firm Catamount Ventures. Founded in 2007 by Neil Grimmer, the current chief executive, and a partner in Catamount Ventures, Plum Organics had $93 million in gross sales last year.
October 14, 2013 |
Denise Morrison was rather blunt last week when talking about the company she took over when she was named chief executive officer of the venerable Campbell Soup Co. two years ago. "We had become complacent," Morrison told a conference of the International Economic Development Council at the Philadelphia Marriott. "We were going about our business the same old way, expecting different outcomes. We faced a burning need to change. " To that end, Morrison launched the Camden-based Fortune 500 company on a buying spree and a new direction, both in response to the rise of emerging markets overseas and the growing economic clout of the millennial generation at home.