January 3, 1990 |
David W. Johnson, chief executive officer of Michigan-based Gerber Products Co., has been named chief executive officer of embattled Campbell Soup Co., the companies announced today. Meanwhile, Alfred A. Piergallini was elected chairman, president and chief executive of Gerber to succeed Johnson. Campbell began searching for a new chief executive long before R. Gordon McGovern, 63, announced his early retirement in November.
November 1, 1989 |
Campbell Soup Co. said today its chief executive, R. Gordon McGovern, has decided for personal reasons to take early retirement, sparking renewed takeover speculation and sending its stock sharply higher. Campbell's stock shot $3.375 higher to $47.125 on the New York Stock Exchange. The new sign of turmoil at the Camden, N.J.-based soup maker revived the takeover talk that has surrounded the company since the death in April of its patriarch Chairman John Dorrance Jr.
January 4, 1990 |
David W. Johnson, chief executive at Gerber Products Co., has been named chief executive of Campbell Soup Co., as the food products company moves to squash speculation it will be sold. Johnson is the first outsider selected to head the company in its 120-year history. He replaces R. Gordon McGovern, who announced his early retirement in November after serving as president and chief executive since 1980.
December 29, 1989 |
The family that has controlled the Campbell Soup Co. for more than a century and made its red-and-white soup cans a common sight in the nation's cupboards has split over ownership of the giant food maker. Three nieces of Campbell's late chairman, John T. Dorrance Jr., and their husbands on Thursday said they want to sell their 17% stake in Campbell.
August 25, 1989 |
Campbell Soup Co., the giant food company whose advertising campaigns for hot soup evoke images of cozy dining, on Thursday announced that it will cut its work force by 2,800 as part of a major corporate streamlining. Campbell, which has about 48,000 workers, said it was only the second layoff--but by far the largest--in the 120-year history of the company, which has a reputation of being among the most paternalistic in the food industry.
August 27, 1985 |
For more than a century, the corporate strategy at Campbell Soup was as bland and consistent as its tomato soup. A few years ago, however, it began aggressively introducing new products, a move that increased profits and kindled excitement within the company. But Wall Street analysts and even Campbell's president think the 115-year-old enterprise may have become too adventurous.