Campbell Soup Co. on April 5 announced a reorganization that includes a chief operating officer for the first time in years. It could mean Luca Mignini is in line for the CEO job.
About 90 percent of the company's sales have been put under Mignini, 55, who joined Campbell in 2013 as international president and most recently was president of Global Biscuits and Snacks. He will continue to report to Denise Morrison, 64, who has been CEO since 2011.
The moves "will better position the company to capitalize on the rapidly changing food industry landscape, while more closely aligning the business with the company's three growth strategies: optimize the value of the core; increase health and well-being food, beverages and snacks; and accelerate distribution and new business models," the company announcement said.
Mignini will oversee Campbell's core businesses, including soup, simple meals, shelf-stable beverages and the suddenly burgeoning snacks portfolio (the acquisition of Snyder's-Lance closed 10 days earlier).
Campbell will create an Accelerator unit to continue to expand in faster-growing spaces and invest in high-growth areas. The Accelerator eventually will get a Chief Acceleration Officer, although that job is open for now. Campbell Fresh, a produce and refrigerated juices unit, will become part of the Accelerator unit, which will be responsible for long-term innovation, small brand incubation, future consumer experiences, e-commerce and new distribution models.
"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 Morrison.
Before joining Campbell, Mignini was CEO of the Findus Italy division of Iglo Group, Europe's largest frozen food business, and before that he worked at SC Johnson for more than 20 years. In addition to the business units, he'll oversee the U.S. sales organization; and the global product development group.
Among other personnel changes:
- Ana Dominguez, 46, a four-year veteran, becomes president of Campbell Fresh. She also worked at SC Johnson. She succeeds Ed Carolan, who is leaving Campbell.
- Emily Waldorf, 40, was promoted to senior vice president of corporate strategy.
- Carlos Barroso, senior vice president of Global Research and Development, will move to a strategic advisory role within the Campbell Snacks business.
- Bethmara Kessler, who previously served as senior vice president of Integrated Global Services, has left the company.
- SVP and CFO Anthony DiSilvestro will now oversee many of Campbell's Integrated Global Services, including Financial Planning and Analysis and Information Technology.