Third Point's Loeb Says Campbell Soup's Existing Board Should Not Choose Next CEO - CNBC.com -BoardProspects

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

CNBC.com Oct 10 2018 BoardNews

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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