Campbell’s Company Proxy Supplement Update
This supplement addresses voting recommendations issued by ISS ahead of the November 18, 2025, Annual Meeting.
ISS Error: ISS recommended voting AGAINST Director Marc B. Lautenbach. The Company clarifies that the Governance Committee (Chaired by Archbold D. van Beuren) oversees director compensation, not the committee Lautenbach chairs, rendering the recommendation misplaced.
Director Compensation Defense: ISS questioned the high, unchanged $350,000 annual retainer for Board Chair Keith R. McLoughlin.
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