Mary Alice Dorrance Malone Jr. has been appointed to Campbell's board following her mother's passing, preserving a family legacy that spans over a century. Malone Jr. fills the position held by her mother for 35 years and continues the Dorrance family's influence, which owns over 23% of the company. Campbell's has faced challenges in recent times, with shares decreasing by more than 25% and earnings per share down 24% from the previous year. The company has also undergone a rebranding to The Campbell's Company to highlight its diverse range of brands.
Mary Alice Dorrance Malone Jr. has been elected to Campbell's board, continuing a family legacy that dates back to her great-grandfather's invention of condensed soup.
The Dorrance family possesses over 23% of Campbell's, with a collective net worth of $17 billion, marking them as one of America's richest families.
Malone Jr.'s appointment is seen as timely as Campbell's struggles with a stock price drop of over 25% and significant earnings decreases.
In November 2024, Campbell's rebranded to The Campbell's Company to reflect its broader portfolio beyond traditional soup products.
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