Campbell Soup CEO has 'chosen to retire,' effective immediately

As Americans' taste buds change, company tries to revive sales

David Madden
May 18, 2018 - 11:17 am
Campbell Soup Company

Campbell Soup Company

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CAMDEN, N.J. (KYW Newsradio) — Some major changes are underway at one of South Jersey's top employers. 

Campbell Soup Company CEO Denise Morrison is out, effective immediately.

A press release indicated she has "chosen to retire" after 15 years, but the company reported a third quarter loss of $475 million thanks, in large part, to a struggling division called Campbell Fresh. 

"Keith McLaughlin, he's currently a board member, he's been a board member with Campbell's since 2016, he will become interim CEO," said spokesman Tom Hushen on the short-term future of the company.

They're also conducting a thorough review of all parts of the company. The company hopes to improve the corporate bottom line. 

There is no timeline on how long that process might take.

"We announced that we're initiating a thorough review of all aspects of our strategy," Hushen added. "That's operations, its portfolio. And the goal will be to improve execution and performance in the long term."