Campbell announces new corporate structure; COO

09-Apr-2018 - Last updated on 09-Apr-2018 at 13:29 GMT

Campbell Soup is undergoing a strategic reorganization to focus on the fast-growing snacks and fresh foods categories. Pic: Campbell Soup Company

Campbell Soup Company has announced several strategic moves to better position itself in a 'rapidly changing food industry landscape' and focus on 'profitable growth.'

It announced the promotion of Luca Mignini (55), previously president of Global Biscuits and Snacks to chief operating officer to oversee Campbell’s core businesses, including the newly created Campbell Snacks division.

Mignini’s responsibilities will also include the soup, simple meals and shelf-stable beverages portfolios; North America Food Service; the Canada and Latin America businesses; the company’s US sales organization; and the global product development group within research and development.

“The transformative Snyder’s-Lance acquisition served as a catalyst for us to re-examine how to best organize the company for increased emphasis on execution and profitable growth,” said Denise Morrison, CEO of Campbell, in a statement.

In January, the company signalled a strategic shift into the fast-growing $89bn snacking category with the acquisition of Snyder’s-Lance for $4.87bn, its largest acquisition ever.

Accelerating the demand for fresh

To further capitalize on consumers’ demand for fresher, healthier meals and snacks, Campbell also announced the creation of an “accelerator” unit.

The unit will be responsible for long-term innovation, small brand incubation, future consumer experiences, e-commerce and new distribution models in high-growth areas.

Campbell Fresh – the company’s packaged fresh unit – will become part of the accelerator unit.

“This strategic reorganization provides the right structure for us to optimize the value of our businesses today, while creating future-oriented capabilities. It will simplify our operations, improve our execution and enable us to allocate resources with a greater focus on profitable growth,” said Morrison.

Mignini joined Campbell in 2013 as international president, before becoming president of Global Biscuits and Snacks. Previously, he was CEO of the Findus Italy division of Iglo Group, Europe's largest frozen food business, and was with SC Johnson for more than 20 years.

Campbell said it has begun an external search for a chief acceleration officer to lead the unit.