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Campbell gave new CEO $7.4 million pay package

Associated Press Modified: October 5, 2012 at 8:15 pm •  Published: October 5, 2012

Campbell also makes V8 juices and Pepperidge Farm baked goods. But with the packaged food industry growing slowly in developed markets, Morrison is also positioning Campbell to move into the fast-growing market for "fresh packaged" foods with the purchase of premium juice maker Bolthouse Farms this summer.

Last month Campbell said it expected the majority of its sales growth in the year ahead to come from its recent acquisition. As for its new soups and sauces, Morrison said the company would have to wait until after the fiscal first quarter to see how they'd fare.

The Associated Press formula calculates an executive's total compensation during the last fiscal year by adding salary, bonuses, perks, above-market interest the company pays on deferred compensation and the estimated value of stock and stock options awarded during the year.

The AP formula does not count changes in the present value of pension benefits. That makes the AP total slightly different in most cases from the total reported by companies to the SEC.

The value that a company assigned to an executive's stock and option awards was the present value of what the company expected the awards to be worth to the executive over time. The number is just an estimate and what an executive ultimately receives will depend on the performance of the company's stock.

Most stock compensation programs require an executive to wait a specified amount of time to receive shares or exercise options.