Campbell Soup Company Shareholders And Board Fight For Control

An investor who wants to replace Campbell's entire board sued the company last week for allegedly misleading shareholders.
Posted at 1:41 PM, Oct 28, 2018

The future of the iconic Campbell's soup brand is uncertain amid falling sales and turmoil over who should take control of the company.

Last month, activist investor Daniel Loeb accused board members of "mismanagement, waste, ill-conceived strategy, and inept execution," and suggested replacing them all. He sued Campbell Soup Company on Thursday claiming it misled investors and has demanded it be sold.

But Campbell's board says the replacement options aren't experienced enough to run the 149-year-old company, and say it's confident about future solutions. 

Experts have said one solution could be taking the company private. That could free it from some investors' demands for constant growth and help make it more profitable. 

Additional reporting by Newsy affiliate CNN.