1. Third Point's Loeb Says Campbell Soup's Existing Board Should Not Choose Next CEO

    Third Point's Loeb Says Campbell Soup's Existing Board Should Not Choose Next CEO

    Activist hedge fund manager Daniel Loeb sent a letter to the board of Campbell Soup that strongly suggests the company wait until a new board of directors is in place before selecting a new chief executive officer. Campbell shareholders will elect the board at a Nov. 29 annual meeting and Loeb wants to throw all the current directors out...

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    1. It seems to us that the chance of the company being able to attract a first-rate food executive in the middle of a proxy fight is low. No top-notch candidate would join a company when the board that selected them could be replaced within a few weeks.
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