Campbell shuffles executive ranks

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Filings with the Security and Exchange Commission Tuesday show shifts in Campbell Soup Co.’s executive team and board of directors.

Campbell eliminated the role of chief operating officer Monday, transitioning Luca Mignini from senior vice president and COO to executive vice president of strategic initiatives. He will remain in his new role until August 1, at which point his role will be eliminated.

On March 28, Campbell announced the retirement of two members of the Campbell board, and the appointment of John Bilbrey.

According to the SEC filing, Les Vinney and Sara Mathew’s retirements are not the result of a disagreement with the company.

Bilbrey was added pursuant to a November agreement between Campbell and New York-based hedge fund Third Point LLC, with whom the soup company was embroiled in a battle that could have resulted in an overhaul of Campbell’s entire board. Instead, Campbell agreed to expand its board to include two Third Point appointees and one member agreed upon by both parties by May. He will take his post on May 22, though the committees he will serve on have not yet been determined.

Additionally, Campbell Snacks President Carlos Abrams-Rivera and Campbell Meals and Beverages President Roberto Leopardi were each promoted to senior vice president. Both will now report to President and CEO Mark Clouse, and are now members of the company’s executive team.