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Press release from Business Wire

Campbell Names Carolan as President, U.S. Retail and Hassett as Senior Vice President and General Manager, Away from Home

<p class='bwalignc'> <b>Serrao Promoted and Will Continue to Lead Innovation Efforts</b> </p>

Tuesday, August 06, 2013

Campbell Names Carolan as President, U.S. Retail and Hassett as Senior Vice President and General Manager, Away from Home

09:03 EDT Tuesday, August 06, 2013

CAMDEN, N.J. (Business Wire) -- Campbell Soup Company (NYSE:CPB) today announced the appointment of Ed Carolan as President, U.S. Retail and Tim Hassett as Senior Vice President and General Manager, Away from Home, and Chief Customer Officer of Campbell North America. Both will report to Mark Alexander, President - Campbell North America.

Alexander said, “Ed and Tim are outstanding leaders who have delivered strong results throughout their Campbell careers. The company will certainly benefit as they bring their experience and knowledge into their new roles, to drive growth by strengthening our core business in the U.S. and by expanding into faster-growing spaces.”

Carolan, 44, will assume responsibility for Campbell's $3.5 billion U.S. Soup, Sauces and Beverages business. Carolan joined Campbell in 2001 and has led several significant businesses. Since 2011, he has led Campbell's core U.S. Soup and Simple meals business. Under Carolan's leadership, Campbell has delivered four consecutive quarters of growth in U.S. Soup. Prior to that, Carolan served as General Manager - Pepperidge Farm Snacks Division, with responsibility for the company's crackers and cookies business, where he accelerated growth behind Goldfish crackers. From 2006 to 2009, he was General Manager of Campbell's StockPot and North America Foodservice business. Prior to joining Campbell, Carolan spent five years in brand management positions at Procter & Gamble in both the U.S. and Europe. Carolan earned a bachelor's degree in electrical engineering from the Georgia Institute of Technology and an MBA from Harvard Business School.

Hassett, 49, will assume responsibility for leading Campbell's North America Foodservice business and its retail fresh soups and sauces business, as well as expanding the availability of Campbell's products in the immediate consumption and e-commerce channels. In addition to the Away From Home position, as Chief Customer Officer of Campbell North America, Hassett will bring together sales teams to build strategic joint business plans with Campbell's customers in a unified fashion. He joined Campbell in 2004. Most recently, Hassett served as Senior Vice President, Sales - Campbell North America. Before that, he spent almost seven years at Pepperidge Farm, first as Senior Vice President - Sales and then as General Manager of the Fresh/Frozen Bakery business. In both roles, Hassett's teams delivered share and earnings growth. Prior to Campbell, Hassett spent three years at Kellogg Company and earlier in his career spent 15 years with Procter & Gamble in a variety of sales and business unit roles. Hassett earned a bachelor's degree in Marketing / Management from Siena College.

In addition to the leaders named today, Campbell North America Innovation Vice President Darren Serrao has been promoted to Senior Vice President, Innovation and New Business Development, where he will remain focused on leading innovation, commercialization and new business opportunities. Under Serrao's leadership, Campbell has accelerated its rate of innovation. He has led the launch of several new products designed to expand into faster growing segments and appeal to new consumer groups such as millennials.

About Campbell Soup Company

Campbell Soup Company is a manufacturer and marketer of high-quality foods and simple meals, including soup and sauces, snacks and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including “Campbell's,” “Pepperidge Farm,” “Arnott's,” “V8,” “Bolthouse Farms” and “Plum Organics.” Through its corporate social responsibility program, the company strives to make a positive impact in the workplace, in the marketplace and in the communities in which it operates. Campbell is a member of the Standard & Poor's 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

Campbell Soup Company
Carla Burigatto (Media)
856-342-3737
or
Jennifer Driscoll (Analysts/Investors)
856-342-6081

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