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Campbell Soup Company in Trouble |
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INTRODUCTION |
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| On May 18, 2018, Denise Morrison (Morrison), CEO of New Jersey-based manufacturer and marketer of food and beverage products, the Campbell Soup Company (Campbell’s), announced her retirement following the wide losses incurred by the company during the third quarter of 2018. Despite the popularity of its iconic condensed soup, Campbell’s was struggling to cope with changing consumer behaviour and had posted 12 consecutive quarters (between 2015 and 2017) of sales and revenue decline. One of the major challenges Campbell’s faced was the decreasing preference for processed and canned food, for which it was popular, in the wake of the growing demand for fresh foods.
After taking over as CEO of Campbell’s in 2011, Morrison diversified from soups and went in for a series of strategic acquisitions and investments to re-engineer the company’s portfolio.
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PayPal (11 USD)
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