Camden / NJ. (csc) Campbell Soup Company confirmed receipt of Third Point LLC’s nomination of a slate of 12 director candidates to stand for election at the Company’s 2018 Annual Meeting of Shareholders.
Commenting on the actions interim President and CEO Keith McLoughlin said: «On August 30th, Campbell announced the results of a comprehensive Board-led strategy and portfolio review to stabilize the company, improve performance and drive shareholder value. As part of the review process, the Board, together with outside advisors, considered a full slate of strategic options and determined that the best path forward to maximize shareholder value, at this time, is to optimize the company’s portfolio, divest certain businesses and pay down debt, and further reduce costs.
«The company is currently focused on implementing that plan and setting the foundation for sustainable, profitable growth in fiscal 2020 and beyond. The Board remains open and committed to evaluating all strategic options to enhance value in the future.»
Consistent with its normal practice, the Campbell Board will review the Director nominees proposed by Third Point and present the Board’s recommended slate of director nominees in Campbell’s proxy materials to be filed with the United States Securities and Exchange Commission in connection with the Company’s 2018 Annual Meeting of Shareholders. Campbell shareholders are not required to take any action at this time.