Campbell Comments on ISS Report
“We strongly disagree with ISS’s conclusion and continue to recommend that Campbell shareholders vote on the GOLD proxy card FOR the election of Campbell’s 12 highly qualified director nominees.
“Campbell benefits from a diverse and highly qualified Board of Directors that is actively engaged and focused on maximizing value for all shareholders. The Campbell Board consists of 12 members, 11 of whom are independent and four of whom have been added since 2016. The Board combines the necessary skills – including a strong mix of industry experience, operating expertise, long-term shareholder perspectives, financial acumen, and global public company experience – needed to provide the proper oversight and strategic guidance on a variety of diverse consumer and business needs amid rapid changes in the food industry.
“As we disclosed last week, we have had recent and proactive discussions
with
“As part of those discussions, we made it very clear that we would only
consider adding individuals who are truly open to all strategic
alternatives and who would not impair that openness or limit the ability
to maintain Board confidentiality. For those reasons, the Board
continues to believe that adding an employee of
“The current Campbell Board is highly confident that its new strategic
plan as announced on
“Campbell urges its shareholders to protect the value of their investments and vote the GOLD card. Campbell’s Board and management team are aligned and working with urgency to execute our plan to improve performance and revitalize the Company to be focused on our franchise businesses to drive sustainable, profitable growth.”
Your Vote Is Important, No Matter How Many or How Few Shares You Own! If you have questions or need assistance, please contact:
INNISFREE M&A Incorporated
Shareholders Call Toll-Free: (877) 687-1866 International shareholders may call: +1-412-232-3651 Banks & Brokers Call Collect: (212) 750-5833
IMPORTANT We urge you NOT to sign any white proxy card sent to you by Third Point. If you have already done so, you have every legal right to change your vote by using the enclosed GOLD proxy card to vote TODAY—by telephone, by Internet, or by signing, dating and returning the GOLD proxy card in the postage-paid envelope provided. |
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-
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181114006006/en/
Source:
INVESTORS: Ken Gosnell (856) 342-6081 ken_gosnell@campbellsoup.com
MEDIA: Thomas Hushen (856) 342-5227 thomas_hushen@campbellsoup.com
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