'So far I would say I haven't seen major change but we're watching closely and feel great about the way the business is positioned,' Campbell Soup CEO Mark Clouse says.
"It enables us to take a big bite out of debt. We know that is something quite important for many investors and the company," Clouse said of the sales. "But it also is a big enabler to drive focus."
Clouse said Campbell Soup will now concentrate on improving its performance across its more narrow two divisions —"If we can win in those, driving our resources, both human and financial capital, in the right spots, I'm feeling great about that foundation," Clouse said, citing the need to "get the innovation machine going."
Asked whether Campbell Soup would continue selling off other brands or portions of its business, Clouse said he feels the company is in "a really good position." "We've got our debt level where we're beginning to feel very comfortable with where we are," he said. "We continue to look at things, whether they're core to what we're doing. But for where we are now, I want to focus on getting the divestitures complete then really focusing on driving the core business."
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