Campbell Soup Co. reached a settlement in its proxy battle with Dan Loeb, agreeing to give the activist investor two seats on the company’s board as well as a say in choosing a new chief executive officer. Third Point has agreed to a 12-month standstill and “certain support commitments” and to dismiss its litigation, Campbell said in a joint statement Monday. Campbell Soup have reached a settlement with Dan Loeb, agreeing to give the activist investor two seats on the company’s board as well as a say in choosing a new chief executive officer. Battle A settlement, which comes before Campbell’s annual general meeting on Nov. 29, ends a months-long battle at the soup and snack maker. Loeb has since backed off from his demand for a total sale and has outlined a 100-day plan to turn around the company.

Source: thestar November 26, 2018 18:33 UTC