Descendants of Dr. John T. Dorrance Announce Their Support for the Current Campbell Board of Directors
October 17 2018 - 8:23AM
Business Wire
Representing Approximately 41 Percent of
Shares Outstanding
Campbell Soup Company (NYSE:CPB) announced that four
shareholders, all descendants of Dr. John T. Dorrance, the inventor
of Campbell’s condensed soup, each separately notified the Chairman
of the Board on behalf of themselves and certain family members of
their intention to vote for the current Campbell Board of Directors
at the upcoming Annual Meeting of Shareholders, scheduled for Nov.
29. Bennett Dorrance, Mary Alice Dorrance Malone, Archbold van
Beuren and Charlotte C. Weber and certain of their family members
collectively represent approximately 41 percent of the company’s
shares outstanding. Dorrance, Malone and van Beuren serve on
Campbell’s Board.
Campbell strongly recommends that
shareholders vote to support the current Campbell Board of
Directors with a vote on the GOLD
proxy card.
If you have questions or need assistance, please contact:
INNISFREE M&A Incorporated
Shareholders Call Toll-Free: (877) 687-1866 Banks
& Brokers Call Collect: (212) 750-5833
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.
Forward-Looking Statements
This release contains “forward-looking statements” that reflect
the company’s current expectations about the impact of its future
plans and performance on the company’s business or financial
results. These forward-looking statements rely on a number of
assumptions and estimates that could be inaccurate and which are
subject to risks and uncertainties. The factors that could cause
the company’s actual results to vary materially from those
anticipated or expressed in any forward-looking statement include:
(1) the company’s ability to execute on and realize the expected
benefits from the actions it intends to take as a result of its
recent strategy and portfolio review, (2) the ability to
differentiate its products and protect its category leading
positions, especially in soup; (3) the ability to complete and to
realize the projected benefits of planned divestitures and other
business portfolio changes; (4) the ability to realize the
projected benefits, including cost synergies, from the recent
acquisitions of Snyder’s-Lance and Pacific Foods; (5) the ability
to realize projected cost savings and benefits from its efficiency
and/or restructuring initiatives; (6) the company’s indebtedness
and ability to pay such indebtedness; (7) disruptions to the
company’s supply chain, including fluctuations in the supply of and
inflation in energy and raw and packaging materials cost; (8) the
company’s ability to manage changes to its organizational structure
and/or business processes, including selling, distribution,
manufacturing and information management systems or processes; (9)
the impact of strong competitive responses to the company’s efforts
to leverage its brand power with product innovation, promotional
programs and new advertising; (10) the risks associated with trade
and consumer acceptance of product improvements, shelving
initiatives, new products and pricing and promotional strategies;
(11) changes in consumer demand for the company’s products and
favorable perception of the company’s brands; (12) changing
inventory management practices by certain of the company’s key
customers; (13) a changing customer landscape, with value and
e-commerce retailers expanding their market presence, while certain
of the company’s key customers maintain significance to the
company’s business; (14) product quality and safety issues,
including recalls and product liabilities; (15) the costs,
disruption and diversion of management’s attention associated with
campaigns commenced by activist investors; (16) the uncertainties
of litigation and regulatory actions against the company; (17) the
possible disruption to the independent contractor distribution
models used by certain of the company’s businesses, including as a
result of litigation or regulatory actions affecting their
independent contractor classification; (18) the impact of non-U.S.
operations, including trade restrictions, public corruption and
compliance with foreign laws and regulations; (19) impairment to
goodwill or other intangible assets; (20) the company’s ability to
protect its intellectual property rights; (21) increased
liabilities and costs related to the company’s defined benefit
pension plans; (22) a material failure in or breach of the
company’s information technology systems; (23) the company’s
ability to attract and retain key talent; (24) changes in currency
exchange rates, tax rates, interest rates, debt and equity markets,
inflation rates, economic conditions, law, regulation and other
external factors; (25) unforeseen business disruptions in one or
more of the company’s markets due to political instability, civil
disobedience, terrorism, armed hostilities, extreme weather
conditions, natural disasters or other calamities; and (26) other
factors described in the company’s most recent Form 10-K and
subsequent Securities and Exchange Commission filings. The company
disclaims any obligation or intent to update the forward-looking
statements in order to reflect events or circumstances after the
date of this release.
Important Additional Information and Where to Find It
Campbell has filed a definitive proxy statement on Schedule 14A
and form of associated GOLD Proxy Card with the Securities and
Exchange Commission (“SEC”) in connection with the solicitation of
proxies for its 2018 Annual Meeting of Shareholders (the
“Definitive Proxy Statement”). Campbell, its directors and certain
of its executive officers will be participants in the solicitation
of proxies from shareholders in respect of the 2018 Annual Meeting.
Information regarding the names of Campbell’s directors and
executive officers and their respective interests in the company by
security holdings or otherwise is set forth in the Definitive Proxy
Statement. Details concerning the nominees of Campbell’s Board of
Directors for election at the 2018 Annual Meeting are included in
the Definitive Proxy Statement. BEFORE MAKING ANY VOTING DECISION,
INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL
RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING
THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS
THERETO AND ACCOMPANYING GOLD PROXY CARD, BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION. Shareholders may obtain a free copy of the
Definitive Proxy Statement and other relevant documents that
Campbell files with the SEC from the SEC’s website at www.sec.gov or Campbell’s website at www.investor.campbellsoupcompany.com as soon as
reasonably practicable after such materials are electronically
filed with, or furnished to, the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20181017005468/en/
Campbell Soup CompanyINVESTORS:Ken
Gosnell, 856-342-6081ken_gosnell@campbellsoup.comorMEDIA:Thomas Hushen,
856-342-5227thomas_hushen@campbellsoup.com
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