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Campbell Shareowners Applaud New Growth Plan, Elect Directors At Annual Meeting

EPHRATA, Pa., Nov. 21 /PRNewswire/ -- Campbell Soup Company (NYSE: CPB) Chairman, President and Chief Executive Officer David W. Johnson today outlined for shareowners the Company's new strategic growth plan, announced in September, at Campbell's annual meeting. The growth plan is designed to accelerate Campbell's earnings per share growth and put the company among the ranks of the best consumer products companies in the world in terms of financial profile and market multiple.

"There are no speed limits on the road to excellence as we pursue our mission," said Johnson. "We are no longer content to be among the best food companies...we want to raise the bar ever higher."

Shareowners were informed of the Company's recent recognitions for superior corporate governance by Business Week magazine and in independent studies by the Wharton School, University of Pennsylvania, and professors from Columbia University Business School.

The Campbell meeting took place in Ephrata, Pa., not far from the Company's newest biscuit and bakery plant in Denver, Pa.

At the meeting, shareowners elected 15 directors: Elected were: Alva A. App, Retired Senior Scientific Advisor to the United Nations Development Programme; Edmund M. Carpenter, Former Chairman and CEO of General Signal Corporation; Bennett Dorrance, Vice Chairman, Campbell Soup Company, private investor and Chairman and Managing Director of DMB Associates; Thomas W. Field, Jr., Management Consultant, Field & Associates and Chairman and CEO of ABCO Foods, Inc.; Kent B. Foster, President of GTE Corporation; Harvey Golub, Chairman and CEO of American Express Company; David W. Johnson, Chairman, President and CEO of Campbell Soup Company; David K.P. Li, Deputy Chairman and CEO of The Bank of East Asia, Limited; Philip E. Lippincott, Retired Chairman and CEO of Scott Paper Company; Mary Alice Malone, Private investor and President of Iron Spring Farm, Inc.; Charles H. Mott, President and CEO of John W. Bristol & Co., Inc.; George M. Sherman, President and CEO of Danaher Corporation; Donald M. Stewart, President and CEO of The College Board; George Strawbridge, Jr., Private investor and President of Augustin Stables; and, Charlotte C. Weber, Private investor and Trustee of the Metropolitan Museum of Art, New York City.

Shareowners also ratified the appointment of Price Waterhouse as the Company's independent public accountants for fiscal year 1997.

SOURCE Campbell Soup Company
 -0- 11/21/96

/CONTACT: Kevin G. Lowery of Campbell, 609-342-8533/ CO: Campbell Soup Company ST: New Jersey IN: FOD SU: PER

JM -- PHTH009 -- 5423 11/21/96 13:04 EST
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Publication:PR Newswire
Date:Nov 21, 1996
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