Campbell Names New President/CEO
The board of directors of Campbell Soup Co. has elected Mark A. Clouse president and CEO of the company, effective Jan. 22, 2019. Clouse, who was previously CEO of Pinnacle Foods Inc., will succeed interim President and CEO Keith McLoughlin, who will remain a director of the company and work closely with Clouse to ensure a seamless transition. Clouse has also been elected a director.
McLoughlin was appointed to the interim position following the departure of Denise Morrison, under whose leadership Campbell saw four consecutive years of sales declines.
Bringing more than two decades of food industry experience to his new role, Clouse held senior management positions at such major companies as Mondelēz International Inc. and Kraft Foods Inc., as well as Pinnacle. Throughout his career, he has driven growth and created shareholder value through investments in a company’s existing brands and through acquisitions.
“Mark Clouse is an outstanding leader with a proven track record of operational excellence, and we are excited to name him as Campbell’s next president and CEO,” said Les Vinney, chairman of the board at Camden, N.J.-based Campbell. “Mark’s leadership as CEO of Pinnacle Foods shows a clear track record of delivering solid revenue and earnings growth and generating significant value for shareholders. Over the last several months, the Campbell board conducted a thorough search process, and we are confident that Mark is the right person to continue our turnaround plan and lead Campbell to future growth. He brings a wealth of experience in the food industry, as well as a fresh perspective on the opportunities and challenges before us. Mark was the board’s top choice due to his success leading organizations through significant transformations and his history of delivering strong results. We are eager to begin working with him as we continue to build a stronger and more focused Campbell.”
“I am honored to lead Campbell and its portfolio of iconic brands into the next chapter of the company’s storied history,” noted Clouse. “I am committed to delivering Campbell’s strategic objectives and look forward to partnering with the board and working alongside the company’s many talented employees to deliver sustainable, long-term growth. I am confident that together, we can build a prosperous future for Campbell and all of its stakeholders.”
During Clouse’s more than two years as CEO of Parsippany, N.J.-based Pinnacle, the company consistently grew or maintained market share in each of its top categories, experienced double-digit adjusted EPS growth, and successfully integrated the Boulder Brands acquisition, creating significant shareholder value. Pinnacle was acquired by Chicago-based Conagra in October 2018.
Clouse joined Pinnacle from Deerfield, Ill.-based Mondelēz, where he was chief commercial officer and chief growth officer, with responsibility for the company’s growth strategy and such key functions as corporate strategy, global marketing, global sales, and research, development and quality. In his 20 years at Kraft, which in 2012 split into North American grocery business Kraft Foods Group and global snack business Mondelēz, before merging with Heinz in 2015 to form Kraft Heinz, Clouse held various leadership roles managing food brands in developed markets and entrepreneurial global businesses in emerging markets such as Brazil and China.
Before joining Kraft, Clouse served in the United States Army as a pilot, reaching the rank of captain. He is a graduate of the U.S. Military Academy at West Point and earned a bachelor of science in economics.