Campbell Soup Company (CPB) recently elected Marc B. Lautenbach as a new director of its management board effective Jun 11, 2014.
A graduate from Denison University, Lautenbach is adept in shouldering chief responsibilities. Since Dec 2012, Lautenbach has been serving Pitney Bowes Inc. (PBI) as its President and Chief Executive Officer (CEO). His able leadership skills enabled the company to grow and diversify its operations beyond its main mailing business.
Prior to joining Pitney Bowes, the MBA graduate from the Kellogg School of Management at Northwestern University, worked with International Business Machines Corporation (IBM) for 27 years assuming various leadership roles. At IBM, Lautenbach took care of operations including infrastructure management, sales, marketing and product development.
Management at Campbell Soup believes that Lautenbach’s finesse in tapping newer markets and transforming businesses is likely to be a boon for the company and take it forward on its growth trajectory.
Campbell Soup recently posted mixed third-quarter fiscal 2014 results, wherein the bottom line surpassed the respective Zacks Consensus Estimate, while the top line lagged the same.
The company’s adjusted earnings from continuing operations increased approximately 7% year over year to 62 cents per share in the last reported quarter, beating the Zacks Consensus Estimate of 59 cents. Net sales increased marginally to $1,973 million in the quarter from $1,962 million in the prior-year quarter. However, quarterly revenues fell short of the Zacks Consensus Estimate of $2,010 million.
This global manufacturer and marketer of high quality branded convenience food products currently carries a Zacks Rank #3 (Hold). Another better-ranked stock in the same industry includes BRF S.A. (BRFS) with a Zacks Rank #1 (Strong Buy).
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