However, these moves have also increased the company’s debt and added new complexity to its operations. At the same time, internal disagreements have emerged regarding the company’s long-term strategy. The Dorrance family, which owns a significant portion of Campbell’s shares, has supported maintaining the brand’s classic identity. In contrast, major shareholder Third Point has encouraged more aggressive updates, including changes to packaging design and broader restructuring efforts.

These differing viewpoints led to legal discussions and strategic debates over how the company should move forward. In a key development, Campbell’s recently agreed to add two board members recommended by Third Point. This decision signals a willingness to consider new approaches and could open the door to additional changes designed to improve performance.

Market analysts see the move as an indication that the company is preparing for adjustments aimed at appealing to modern consumers. The situation reflects a broader trend among legacy food brands trying to balance tradition with evolving expectations. As Campbell’s works through this challenging period, its decisions may shape how it remains relevant in an increasingly competitive marketplace.