The investment reflects Campbell's efforts to further increase the rate of innovation across its Baking and Snacking portfolio, the company's second-largest reporting segment, which includes both its Pepperidge Farm unit and Arnott's in Asia Pacific.
The new President for Kraft Foods Europe began his career with the company in 1992 and has progressed through a number of marketing, strategy and general management roles.
As shoppers economic concerns eased somewhat in the wake of the recession, some industry observers predicted that store brands would give up their recent gains as the economy rebounded. To the contrary, store brand sales reaching $88.5 billion overall, an all-time high.