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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 FY2020, we continued to deepen this integration, moving the corporate responsibility and sustainability function under the legal department and delegating Board oversight of environmental, social and governance (ESG) activities to the Governance Committee of the Board of Directors. On at least an annual basis, ESG goals and progress are now presented to the Governance Committee. We also continued to link incentive compensation with sustainability progress for both our Chief Executive Officer and Executive Vice President of Global Supply Chain.

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
  • Providing communications that are always honest, timely, relevant and accessible
Infographic showing the Campbell Strategic Plan

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. In FY2020, we also had sustainability leads in each division responsible for ensuring sustainability was integrated into business strategies, plans and operations.

We have a 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, 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 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.

Since this initial internal engagement, we were able to include five ESG risk factors into our ERM process in FY2020. Two of these risk factors, Supply Chain Resiliency and Commodity Availability and Crisis Management, were included in the top 10 risks for the enterprise and will be more fully integrated into management systems and processes moving forward.

Campbell executives in front of the New York Stock Exchange with a banner celebrating Capbell's 150 years of existence

Corporate Responsibility Governance Permeates Our Business

Board of Directors

  • Provides oversight of ESG activities
  • Annual updates to Governance Committee

Chief Executive Officer

  • Provides executive direction on corporate responsibility strategy

Executive Vice President & General Counsel

  • Oversees corporate responsibility & sustainability and provides executive support to advance initiatives

Executive Vice President, Global Supply Chain

  • Provides executive support to advance our operational and supply chain sustainability initiatives

Executive Vice President, Chief R&D and Innovation Officer

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

Vice President, Corporate Responsibility & Sustainability

  • Reports to the EVP & General Counsel and leads company’s corporate responsibility & 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 operational and supply chain 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

Our Strategy

1 - Create a Profitable Growth Model

2 - Fuel Investment with Targeted Cost Savings

3 - Build a Winning Team and Culture

4 - Deliver on the Promise of Our Purpose