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 CHERRY HILL, N.J., Nov. 18 /PRNewswire/ -- Campbell Soup Company (NYSE: CPB) Chairman, President and CEO David W. Johnson praised Campbell employees today at the Company's annual meeting of shareowners for their record-breaking performance in fiscal year 1993 and told shareowners, "This is an important time in Campbell's history as we reflect upon the victories recorded over the past three years and embark upon a bold course of seizing the future."
 Johnson outlined the Company's strategies to "Seize the Future" and achieve the vision of "Campbell Brands Preferred Around the World" to more than 1,000 shareowners who attended the annual meeting held at the Garden State Pavilion:
 -- Leverage brand power to build profitable volume. Johnson said, "Campbell Brands have been called 'Awesome.' Our challenge is to extend their leadership through innovation, through superior quality, through delivering repeat consumer preference."
 -- Focus on the global marketing of core competencies which include those areas where Campbell has competitive advantage. Shareowners heard of the Company's successes and opportunities worldwide in soup, biscuits and V8 juice.
 -- Build and expand low-cost business systems. Johnson told the meeting, "Our goal is a companywide network that boosts productivity and total quality." Recent advances were highlighted: improved manufacturing and customer systems, the new technology center in Camden, and a new meat processing facility in Argentina.
 -- Reconfigure our business portfolio. "That means investing in the best products with the best potential worldwide ... and getting out of operations that don't achieve our vision," the CEO pointed out.
 At the meeting, Frank E. Weise, III, Sr. vice president-Finance and chief financial officer, reviewed fiscal 1993 record financial performance, emphasizing the strong cash flow and balance sheet which keeps Campbell well positioned to seize opportunities and grow the business strategically.
 Shareowners elected 15 directors at the meeting. Elected were:
 -- Alva A. App, senior scientific adviser to the United Nations Development Programme.
 -- Robert A. Beck, chairman emeritus of The Prudential Insurance Company of America.
 -- Edmund M. Carpenter, chairman and chief executive officer of General Signal Corporation.
 -- Bennett Dorrance, vice chairman of Campbell Soup Company, private investor, and chairman and managing director of DMB Associates.
 -- John T. Dorrance III, private investor.
 -- Thomas W. Field Jr., management consultant, Field & Associates.
 -- David W. Johnson, chairman, president, and chief executive officer of Campbell Soup Company.
 -- Philip E. Lippincott, chairman and chief executive officer of Scott Paper Company.
 -- Mary Alice Malone, private investor and president of Iron Spring Farm, Inc., Chester County, Pa.
 -- Charles H. Mott, president and chief executive officer of John W. Bristol & Co., an investment management firm.
 -- Ralph A. Pfeiffer Jr., director of various corporations, and retired senior vice president of International Business Machines Corporation.
 -- Donald M. Stewart, president of The College Board.
 -- George Strawbridge Jr., private investor, adjunct professor of Widener University, and president of Augustin Stables.
 -- Robert J. Vlasic, chairman emeritus of Campbell Soup Company.
 -- Charlotte C. Weber, private investor and trustee of The Metropolitan Museum of Art.
 Jon M. Huntsman, chairman and chief executive officer of Huntsman Chemical Corporation, did not stand for re-election, citing personal reasons.
 Shareowners ratified the appointment of Price Waterhouse as the Company's independent public accountants for fiscal year 1994.
 Shareowners defeated a proposal concerning former government employees. In recommending a "no" vote on the proposal, Campbell's board noted that mechanisms already in place regulating the conduct of former governmental employees are appropriate to safeguard shareowners' interests in this area.
 Immediately following the meeting, Robert J. Vlasic retired as chairman of the board and became Chairman Emeritus. As previously announced, the Board of Directors elected Johnson.
 -0- 11/18/93
 /CONTACT: Leonard F. Griehs, 609-342-6428, or Dorothy A. Foley, 609-342-5291, both of Campbell Soup/

CO: Campbell Soup Company ST: New Jersey IN: FOD SU: PER

JM -- PH022 -- 6032 11/18/93 12:32 EST
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Publication:PR Newswire
Date:Nov 18, 1993

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