Campbell’s appoints Kelly Palumbo as chief accounting officer, details compensation

Campbell’s Co (NASDAQ:CPB) announced this week that Kelly L. Palumbo has been appointed Senior Vice President, Controller and Chief Accounting Officer, effective September 22. The appointment follows the transition of Stanley Polomski, who will move from his current role as Senior Vice President & Controller and principal accounting officer to Senior Vice President, Business Process Optimization, also effective September 22.

According to a statement in the company’s SEC filing, Ms. Palumbo, 51, previously served as Corporate Vice President, Finance and Corporate Controller at Charles River Laboratories International since July 2023. Prior to that, she held senior finance roles at Johnson & Johnson, including Vice President of Finance, Transformation and Talent Strategy, and Senior Finance Director for global beauty and baby portfolios.

As part of her new role at Campbell’s, Ms. Palumbo will receive an annual base salary of $410,000. She will be eligible for a target annual bonus of 55% of her base salary for fiscal 2026 under the company’s Annual Incentive Plan, payable at the discretion of the board and subject to performance goals. In addition, she will be eligible for a target long-term incentive award of 110% of her base salary for fiscal 2026 under Campbell’s 2022 Long-Term Incentive Program.

Ms. Palumbo will also receive a one-time grant of time-lapse restricted stock units valued at $200,000, vesting in three equal annual installments starting on the first anniversary of the grant. She will receive a cash payment of $300,000 in recognition of the forfeiture of an annual bonus and certain benefits from her prior employment.

In addition to these arrangements, Ms. Palumbo will participate in Campbell’s standard employee benefit and retirement programs and receive $2,500 per quarter under the Personal Choice Program.

The company stated there are no family relationships between Ms. Palumbo and any directors or executive officers, and no related transactions requiring disclosure. The information is based on a press release statement included in the company’s SEC filing.

In other recent news, Campbell Soup Company has announced the appointment of Kelly L. Palumbo as the new Senior Vice President, Controller, and Chief Accounting Officer, effective September 22, 2025. This leadership change follows the transition of Stan Polomski to a new role as Senior Vice President of Business Process Optimization. On the financial front, several analyst firms have adjusted their price targets for Campbell Soup. CFRA raised its price target to $37, maintaining a Hold rating, citing cost savings as a factor. Similarly, TD Cowen increased its price target to $31, also maintaining a Hold rating, in response to Campbell’s fourth-quarter results and fiscal year 2026 earnings guidance. Bernstein SocGen Group raised its price target to $39 and upheld an Outperform rating, noting that Campbell’s fourth-quarter results exceeded margin expectations. Piper Sandler reiterated a Neutral rating with a $34 price target, highlighting Campbell’s strategies to mitigate tariff impacts by offsetting 60% of expected headwinds for fiscal year 2026. These developments reflect a range of analyst perspectives on Campbell Soup’s recent performance and strategic initiatives.

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