Campbell Soup has appointed Mark Clouse as chief executive, replacing Keith McLoughlin who took over as interim chief executive in May 2018 following the resignation of Denise Morrison.
Former Pinnacle Foods chief executive Clouse will also become president and a director of the food and snacks producer. He brings more than 20 years of experience with Mondelēz International and Kraft Foods.
He joins Campbell Soup after a period of turmoil in the company during which it was trying to adapt to changing consumer demands for fresher-looking products, and expanding into the snacks sector with acquisitions. Poor results led to the swift resignation of Morrison and a boardroom fight initiated by shareholder Third Point.
A statement from Campbell said: “Consistent with the terms of the settlement agreement between Third Point and Campbell, Third Point provided constructive input into the chief executive search process and fully supports the Campbell Board’s decision to name Clouse president and chief executive.”
“Mark Clouse is an outstanding leader with a proven track record of operational excellence, and we are excited to name him as Campbell’s next president and chief executive,” said chairman Les Vinney. “Mark’s leadership as chief executive of Pinnacle Foods shows a clear track record of delivering solid revenue and earnings growth and generating significant value for shareholders. Over the last several months, the Campbell Board conducted a thorough search process, and we are confident that Mark is the right person to continue our turnaround plan and lead Campbell to future growth. He brings a wealth of experience in the food industry, as well as a fresh perspective on the opportunities and challenges before us.”
He continued: “Mark was the board’s top choice due to his success leading organisations through significant transformations and his history of delivering strong results. We are eager to begin working with him as we continue to build a stronger and more focused Campbell.”
Clouse joined Pinnacle Foods from Mondelēz International, where he served as chief commercial officer and chief growth officer, with responsibility for the company’s growth strategy and key functions including corporate strategy, global marketing, global sales, and research, development and quality. Throughout his 20-year tenure at Kraft, Clouse served in a range of leadership positions managing food brands in developed markets and entrepreneurial global businesses in emerging markets such as Brazil and China.
“I am honoured to lead Campbell and its portfolio of iconic brands into the next chapter of the company’s storied history,” said Clouse. “I am committed to delivering Campbell’s strategic objectives and look forward to partnering with the board and working alongside the company’s many talented employees to deliver sustainable, long-term growth. I am confident that together we can build a prosperous future for Campbell and all of its stakeholders.”