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Campbell Soup Co. Restructures North American Business Units

CAMDEN, N.J. - Campbell Soup Company on Thursday announced a new organization structure for its North American business, designed to improve speed to market, better leverage resources, and increase efficiency.

The new division, Campbell North America, had sales of approximately $5 billion last fiscal year and is comprised of the following business units:

-- U.S. Soup, Sauces and Beverages, which includes U.S. soup, sauces, beverages and prepared foods
-- Campbell Away From Home, and Canada, Mexico and Latin America
-- Pepperidge Farm
-- Godiva Worldwide

Mark Sarvary, who is being appointed e.v.p. and president of Campbell North America, will lead the new division. Sarvary will be responsible for all North American operations and for Godiva Worldwide. He will report to Campbell's president and c.e.o., Douglas R. Conant.

Sarvary joined Campbell in 2002 as president of Pepperidge Farm. He was formerly a senior executive at Nestle USA, and was c.e.o. of J. Crew Group Inc. from 1999 to 2002.

Newly appointed presidents of the four business units will report to Sarvary. All appointments are effective March 15, 2004. They are:

-- Larry McWilliams, president, U.S. Soup, Sauces and Beverages
-- Archie van Beuren, president, Away From Home and Canada, Mexico and Latin America
-- Jay Gould, president, Pepperidge Farm
-- Jim Goldman, president, Godiva Chocolatier

Commenting on the new North American organization structure, Conant said, "We have made important progress during the past three years, but there is much more that we can do. We must be more agile, improve the speed of our decisions and have more integrated planning and execution. We are determined to meet the needs of our consumers and customers faster, better and more completely than the competition.

"This is especially true in our U.S. soup, sauces and beverages businesses. We have significantly strengthened the key brands in this portfolio through focus and innovation. To improve our organization agility and execution, we will more effectively integrate resources from functional areas such as supply chain, research and development, and sales. This new structure should make Campbell more competitive and more responsive to our customers and consumers."
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