Campbell Soup Downgraded To Hold, CEO Steps Down

Deutsche Bank has published a research report for Campbell Soup Company CPB with breaking news about Campbell's management changes. In the report, Deutsche Bank writes "CEO Douglas Conant announced his retirement to coincide with Campbell Soup's F2011 end in July. The Board announced Denise Morrison will take over as CEO in F2012. In the interim she was named EVP & COO with most of senior leadership reporting directly to her except non-operating heads (CFO, Legal, HR)." Deutsche Bank has also downgraded Campbell to Hold with a $36 price target. Campbell Soup Company closed yesterday at $36.45.