Mick J. Beekhuizen

President and CEO (effective Feb 2025) at Campbell's Co

Since September 2019

Age

48 years

Tenure

Joined CPB as Chief Financial Officer in September 2019, later serving as President of Meals & Beverages and being promoted to President and CEO effective February 2025.

Also at Campbell's Co

MAC

Mark A. Clouse

President and Chief Executive Officer

AJS

Anthony J. Sanzio

EVP and Chief Communications Officer

CLA

Carrie L. Anderson

Executive Vice President and CFO

About

Mick J. Beekhuizen has built a distinguished career characterized by consistent growth and leadership across various industries. He began his trajectory at CPB in September 2019 as Chief Financial Officer, where he managed critical finance functions and strategy, later transitioning to lead the Meals & Beverages division.

Throughout his professional journey, he demonstrated financial, commercial, and operational excellence. Before his ascent at CPB, he held key roles at Chobani LLC as Executive Vice President and Chief Financial Officer, as well as significant positions at Education Management Corporation and Goldman Sachs, further solidifying his reputation as a transformative leader.

Recognized for his strategic leadership and value creation, he is now poised to shape the future of CPB as President and CEO, bringing a deep understanding of both the operational and financial aspects of the business to his new role. His career reflects a blend of strong execution in investor relations, corporate development, and operational management that continues to drive CPB’s strategic initiatives.

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Salary	$795,292	Annual	Fixed salary for 2023.
All Other Compensation	$306,409	Annual	Total additional fixed compensation including 401(k) plan contributions, 401(k) supplemental contributions, executive retirement contributions, long-term disability premiums, and other perquisites (exact subcomponent amounts not provided).

Performance Compensation

Data from FY 2023

Stock Awards 2023

Component	Shares/Units	Grant Date Fair Value	Performance Metric	Threshold / Target	Vesting Schedule	Additional Details
TSR Performance-Restricted	17,213	$796,101	TSR vs. Performance Peer Group (2023-2025)	Threshold: 50% target payout; Target: 100% payout	Vesting upon meeting TSR performance and continued employment through September 30, 2025	Payout may exceed target; requires continuous employment.
EPS Performance-Restricted	17,213	$796,101	Adjusted EPS CAGR (2023-2025)	Threshold: 50% target payout; Target: 100% payout	Vesting upon meeting EPS performance and continued employment through September 30, 2025	Payout may exceed target; performance-based award.
Time-Lapse Restricted	22,951	$1,061,484	Continuous Service	N/A	1/3 vests on September 30, 2023, 2024, and 2025	Service-based award; no performance metric involved.

Grant Details:

Grant Date: October 1, 2022.
Grant Date Stock Price: $50.44.
Total LTI Grant Value: $2,894,063.

Non-Equity Incentive Plan Compensation (AIP) 2023

Metric	Weight	Threshold	Target	Over-Achievement	Exceptional Performance	Additional Details
Net Sales	40%	$8,607 million	$9,015 - $9,106 million	$9,695 million	$9,876 million	50% payout at threshold, 100% at target, up to 175%-200% at higher performance.
Adjusted EBIT	40%	$1,188 million	$1,294 - $1,347 million	$1,426 million	$1,452 million	50% payout at threshold, 100% at target, up to 175%-200% at higher performance.
Free Cash Flow	20%	$650 million	$750 - $780 million	$880 million	$918 million	25% payout at threshold, 100% at target, scales to 175%-200% for higher performance.

AIP Award Calculation:

AIP Target: $720,000
Performance Score: 111%
Individual Performance Score: 100%
Final AIP Award: $801,000 (calculation: $720,000 × 111% × 100%).

Additional Notes:

The AIP award is a cash-based incentive; therefore, no vesting schedule or grant date fair value is applicable.
The performance for both equity and non-equity awards is subject to the evaluation over the period 2023-2025 with specific thresholds, targets, and potential caps as noted above.