NEW YORK—Campbell Soup and Third Point LLC settled their proxy contest on Nov. 26 by adding two of the hedge fund’s nominees to the U.S. food company’s board and giving the activist investor a say in selecting Campbell’s next CEO, the company said.
Campbell Soup will expand its board with the addition of Third Point nominees Sarah Hofstetter, who is president of Comscore, and Kurt Schmidt, a former chief executive of Blue Buffalo Company. By May 2019 another director will be added and Third Point will be consulted on the choice.
