The soup division's president, Jeremy Fingerman,
"I think he did about all he could do," said Neuberger Berman analyst Bill Leach. Mr. Leach noted that Campbell's soup sales have been erratic, especially as it continues to battle against General Mills' Progresso, but the most recent second quarter ended in January showed soup volume growth of 6%.
Mr. Fingerman's departure is part of a new organizational structure intended to streamline decision-making that Campbell announced in February. As part of that structure, Campbell combined its U.S. soup, sauces, beverages and prepared foods into one division headed by Mark Sarvary. Larry McWilliams, former president of North America Soup, was named president of U.S. soup, sauces and beverages.
The next phase in the realignment was announced internally March 26, with Diane Teer named vice president and general manager of beverages; Lynn Ambrosia named vice president and general manager of sauces and meal preparation; and Sean Connelly named vice president and general manager of soup and meal consumption.
A Campbell spokesman said the company is still in the process of realigning the marketing teams that report in to the three new general managers, and that there is no specific timetable for the decisions.