1、Campbell Soup Company 2017 Annual Report1 Campbell Place,Camden,NJ 08103-Campbell Soup Company2017 ANNUAL REPORTFellow Shareholders,GrowtIt has been elusive for years,as the entire food industry grapples with the seismic shifts that have altered the consumer,food and retail landscapes.The drive to d
2、eliver sustainable,profitabletop-line growth has been a consistent theme during my tenure as Campbells CEO.Our growth strategy has been focused on two critical areas:strengthening our core business and expanding into faster-growingspaces to diversify our portfolio.Both were necessities to address th
3、ese seismic shifts:the massive changes in demographics;the evolving consumer preferences toward health and well-being,centered on fresh and real food;technological advancements reshaping the consumer shopping experience;and tumultuous socio-economic forces.These shifts have not only accelerated and
4、converged,they have essentially reset consumer behavior.In this environment,companies and brands must differentiate themselves or risk extinction.Over the last six years,we have made significant progress on transforming Campbells portfolio toward faster-growingspaces,particularly health and well-bei
5、ng.Our commitment to health and well-being is unwavering.We chose this path becausewe recognized the dramatic changes taking place in our industry and that real and healthier food was better for our consumers and better for our business.Let me state it clearly and unambiguously:Our ultimate goal is
6、to“Be the leading health and well-being food company.”When people look for something real to eat and something that tastes good,they are going to look for the food Campbell makes.We chose this path not because it is expedient,but because we believe it represents the future of the food industry and t