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Campbell's President/CEO to Stay On After January Contract Expires

CAMDEN, N.J. -- Campbell Soup Co. president and c.e.o. Douglas R. Conant will continue in his capacity following the expiration of his initial employment agreement with the company on Jan. 7, 2006.

Elected as Campbell's president and c.e.o. on Jan. 8, 2001, Conant and the company's board of directors have agreed that Conant will serve at the discretion of the board, without an employment contract and with his compensation and benefits determined in accordance with the plans and policies approved by the compensation committee, which are applicable to other senior executives of the company.

Campbell chairman Harvey Golub, said: "The board is pleased with the progress that Doug has made in improving the competitiveness of the company and building a strong management team. We endorse Doug's leadership and support the strategies his team has developed to deliver long-term value to shareowners. We look forward to continuing to work with Doug as he implements Campbell's plans to drive quality growth."

Noted Conant: "We have made important strides to strengthen Campbell in the workplace with our employees, and in the marketplace with our customers and consumers. I look forward to working with the board and our talented associates to build on our progress and produce sustained, strong business results."
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