"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."
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.
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