Paul Charron, a senior advisor for global private equity firm Warburg Pincus, will replace Harvey Golub as chairman of Campbell Soup at the beginning of the company’s next fiscal year this August.
Charron, who has been on the board of Campbell since 2003, joined Warburg at the end of 2007 following his retirement from Liz Claiborne, where he served as chairman and chief investment officer from 1996 to 2006. In addition to working for Warburg he is also currently a managing partner of Fidus Investment Partners.
In his advisory role for Warburg, Charron has helped counsel a team of specialists in identifying and evaluating potential acquisitions, as well as worked part-time in the consumer products sector. The firm has about $30 billion in assets under management, with $10 billion earmarked for investing in technology, media, telecom, consumer, industrial and healthcare sectors.
Golub, who has also served as chairman of private equity firm Ripplewood Holdings for the past three years, has been Campbell’s chairman since 2004. The company’s sales grew 8 percent to $8 billion during the 2008 fiscal year, and its stock outperformed the falling S&P 500 last year. As the company is facing increased competition and looking to expand into China and Russia, it is focusing on its core product lines and has divested units and closed plants in the last few months.