Third Point Warns Campbell Against Filling CEO Job

By Anonymous

‘We think it is entirely uncontroversial to insist that the next permanent CEO be selected by the newly elected board.”

Activist investor Third Point LLC warned Campbell Soup Co. not to fill the open chief executive position at the food company ahead of its next annual meeting, which is scheduled for Nov. 29.

In September, the activist investing firm led by Daniel Loeb launched a proxy fight to replace the entire board at Campbell, which lost its chief earlier this year amid flagging sales. Third Point and its allies now own about 10% of Campbell’s stock.