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# Campbell's Founder's Heirs Hold Over A Third Of Shares As Board Opposes Pesticide Report
- URL: https://www.bullished.co/campbells-founders-heirs-hold-over-a-third-of-shares-as-board-opposes-pesticide-report-3cfbd3a8/
- Published: 2026-10-07T14:50:49.000Z
- Updated: 2026-10-07T14:50:49.000Z
- Description: The proxy shows three Dorrance descendants with large stakes ahead of a November 17 vote the board opposes.
- Author: Matteo Parrino
- Tags: SEC Filings, CPB, Industry: Consumer Staples, Topic: Leadership & Governance

[Campbell's](https://www.bullished.co/tag/cpb/) board unanimously opposes a shareholder proposal demanding a report on pesticide results in its regenerative farming effort, according to the company's [proxy filing](https://www.sec.gov/Archives/edgar/data/0000016732/000001673226000031/cpb-20261007.htm?ref=bullished.co). Director nominee Mary Alice D. Malone, Jr. beneficially owns 53,758,182 shares, or 18.03% of the class, and Bennett Dorrance holds 44,905,684 shares, listed at 15.06%.

## What the proxy says

The board calls the requested report duplicative. Its opposition statement notes that shareholders rejected the same proposal at the 2025 annual meeting.

The statement also cites tracking by the IPM Institute, which it says shows 97% of tomato-field pesticide applications avoided the most hazardous classes for nearby humans.

The same filing puts CEO Mick Beekhuizen's total compensation at $10,965,019 for fiscal 2026\. In Wednesday trading, as of 10:46 a.m. ET, the stock was at $18.67, down 1.74% from the prior close of $19.00.

## The family's voting weight

The proxy identifies Malone, Bennett Dorrance and director Archbold van Beuren as descendants of founder John T. Dorrance. Their holdings, including trust and partnership entities, form large voting blocs.

All directors and executive officers as a group of 20 people beneficially own 20.55% of Campbell's stock, according to the proxy. A proposal that lost last year faces long odds again with that ownership structure.

## What to watch

Shareholders vote on November 17 on the pesticide-reporting proposal and on the amended 2022 Long-Term Incentive Plan.

Separately, Law360 reported that a federal court in New Jersey [let a proposed class action proceed](https://www.law360.com/articles/2532622/food-workers-gear-pay-suit-against-campbell-s-survives?ref=bullished.co). Pepperidge Farm production workers brought the suit over unpaid protective-gear time against the company's subsidiary and Campbell's.

The vote is November 17, and the Dorrance-linked holdings listed in the proxy will weigh heavily on the result.

### Sources

- [Campbell's — DEF 14A (2026-10-07)](https://www.sec.gov/Archives/edgar/data/0000016732/000001673226000031/cpb-20261007.htm?ref=bullished.co) — SEC EDGAR
- [Food Workers' Gear Pay Suit Against Campbell's Survives - Law360 UK](https://www.law360.com/articles/2532622/food-workers-gear-pay-suit-against-campbell-s-survives?ref=bullished.co) — law360.com

### More on Campbell Soup

- [Campbell's Sells $300 Million Of Junior Notes With An 8.500% Rate That Cannot Reset Lower](https://www.bullished.co/campbells-sells-300-million-of-junior-notes-with-an-8-500-rate-that-cannot-reset-lower-3e68362b/)

[All Campbell Soup (CPB) coverage →](https://www.bullished.co/tag/cpb/)