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Governance

Campbell’s commitment to corporate responsibility is reflected in our purpose, Real food that matters for life’s moments. Because of this, our governance structure helps ensure that corporate responsibility is integrated into our business decisions. In FY2019, we continued to deepen this integration, moving the corporate responsibility and sustainability function into the business under supply chain. We also continued to link incentive compensation with sustainability progress for both our Chief Executive Officer and Executive Vice President of Global Supply Chain.

Campbell Strategic Plan infographic

We continue to make transparency a priority, embedding it in our new strategic plan and expanding both what it means and its audience beyond consumers. The following principles will guide our decision-making, measurement, reporting, communication and engagement. We are committed to:

  • Understanding the expectations of all stakeholders, including our employees, so that we can build trust;
  • Engaging on the topics that matter most to our stakeholders and that impact society, the economy and the environment; and
  • Providing communications that are always honest, timely, relevant and accessible.

Our governance structure reflects this priority with company-wide decision-making taking place at the Campbell Leadership Team (CLT) level, which is then integrated into our two divisions – Snacks and Meals & Beverages – by our division heads and supported by corporate responsibility and sustainability through the Strategic Planning Process. We also now have sustainability leads in each division responsible for ensuring sustainability is integrated into business strategies, plans and operations.

In FY2019, we further evolved our Sustainability Steering Committee, sponsored by the Executive Vice President of Global Supply Chain, who is also a member of the CLT. Led by our Vice President of Corporate Responsibility & Sustainability, we included new members on the Steering Committee this past year to support our new divisional structure. The Steering Committee serves as the advisory body for the development and achievement of Campbell’s sustainability strategy and goals.

Together with Ernst & Young, we also organized a workshop with leaders across Campbell on how to integrate environmental, social and governance (ESG) risk factors into our existing Enterprise Risk Management (ERM) process. The Corporate Responsibility & Sustainability team worked in collaboration with the Audit team, which manages the ERM process, to design a four-hour educational session for colleagues from Legal, Procurement, Strategy, IT, Human Resources, Marketing, Operations, Sales, R&D, Quality, Nutrition, Regulatory and Government Affairs. Ernst & Young facilitated much of the session using the World Business Council on Sustainable Development (WBCSD) guidance and COSO framework for integrating ESG into ERM. This workshop is the first step on Campbell’s journey to more fully integrate ESG risk factors into our risk management processes across the company.

Campbell Soup Company Headquarters

How Sustainability Governance Permeates Our Business

Board of Directors

  • Provides oversight
  • Annual sustainability updates to appropriate Board committee

Chief Executive Officer

  • Provides executive direction on sustainability strategy

Executive Vice President, Global Supply Chain

  • Provides executive support to advance our sustainability initiatives

Executive Vice President, Research & Development

  • Provides executive support to advance our Real Food agenda and packaging sustainability initiatives

Vice President of Corporate Responsibility & Sustainability

  • Reports to the EVP, Global Supply Chain and leads company sustainability strategy

Sustainability Steering Committee

  • Senior leaders from operating divisions, supply chain, corporate responsibility and sustainability, manufacturing and research & development
  • Meets bi-monthly
  • Drives decision making, accountability and ownership of sustainability initiatives

Sustainability Leads

  • Cross-functional team that includes sustainable agriculture, responsible sourcing and procurement, manufacturing, transportation and warehousing, packaging, and corporate responsibility and sustainability
  • Act against the goals and strategies within their areas of responsibility
  • Report progress bi-monthly and provide a more comprehensive annual update to the Sustainability Steering Committee

Create a Profitable Growth Model

  1. Consumer-oriented Portfolio Roles
  2. Unlock Snacks
    Growth
  3. Win in Soup
  4. Refine the Marketing
    and Innovation Model
  5. Prioritize Retailers
  • 1-2% Revenue Growth
  • Improve Share

Fuel Investments with Targeted Cost savings

  1. Capture S-L Value
  2. Enterprise Cost Savings
  3. Divest Non-core Assets
  4. Cash Conversion Cycle
  5. Revenue Management Model
  • 4-6% EBIT Growth
  • Expand Margins
  • Strengthen Cash Flow

Build a Winning Team and Culture

  1. Focused and Diverse Organization
  2. Ways of Working in Line with Our Values and Goals
  3. Metric-driven KPIs Fueling Priorities and Incentives
  • Improve Employee Engagement

Deliver on the Promise of our Purpose

  1. Real Food
    Transparency
  2. Sustainability
  3. Strong Community Connection
  • Achieve Real Food and Sustainability Goals