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Third Point's Loeb To Campbell Board: Move To Find A New Ceo Is Too Little, Too Late

by cnbc.com posted 11months ago 13 views
Activist hedge fund manager Daniel Loeb sent a letter to the board of Campbell Soup that strongly suggests the company wait until a new board of directors is in place before selecting a new chief executive officer. Campbell shareholders will elect the board at a Nov. 29 annual meeting and Loeb wants to throw all the current directors out. Loeb's Third Point, which manages $18 billion, just increased its stake in the company to 6.98 percent from 5.65 percent, according to an SEC filing Tuesday.

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