Campbell Soup Co. Chairman of the Board and Director Les Vinney will retire, the Camden-based company announced Thursday afternoon, with Keith McLoughlin elected to succeed Vinney in the role.
McLoughlin served as interim president and chief executive officer at Campbell following the retirement of Denise Morrison last May, until January 2019 when Mark Clouse was elected as president and CEO by the Campbell board.
During his time in the leadership role, McLoughlin – who has been a director at the company since 2015 – oversaw a board-led strategy and portfolio review.
Though McLoughlin will assume the chairmanship immediately, Vinney will remain a director until his retirement on April 15. He joined the board in 2003 and has served as chairman since 2015. According to Campbell, the former STERIS Corp. president and CEO is retiring due to personal commitments.
“It has been an honor to serve as a director and as chairman of the Campbell Soup Co,” Vinney said in a prepared statement. “The Board is fortunate to have a strong and capable leader in Keith, whose steady direction has been indispensable over the last year. He has been an advisor and asset to me, our fellow board members, Campbell’s leadership team and our employees.
“His role as interim president and CEO of Campbell make him uniquely qualified and the logical choice to take on the role of chairman at this important time in Campbell’s history,” Vinney added.
The board on Thursday also announced the retirement of Sara Mathew and the appointment of former The Hershey Co. CEO J.P. Bilbrey.
Bilbrey led Hershey from 2011 to 2017 and served as chairman of its board from 2015 to 2018. His appointment is effective beginning May of this year.
According to a spokesperson from Campbell, Bilbrey’s appointment is part of the agreement Campbell made with Third Point LLC last November, stipulating that the company consult with the investor on the appointment of a third director by Campbell’s May 2019 board meeting.
Mathew joined the board in 2005 and has served as chair of the audit committee while a member. Her retirement is also effective April 15.