A series of high-level departures over the last year thinned the ranks of women leading Fortune 500 companies. On Friday, another departure was added to the list: Denise Morrison announced she is stepping down as CEO of Campbell Soup. That leaves 23 women in charge of Fortune 500 companies, or just 4.6% of the total, reports the New York Times. Others who have stepped down over the past year include Marissa Mayer of Yahoo, Meg Whitman of Hewlett-Packard, Irene Rosenfeld of Mondelez, and Sheri McCoy of Avon, reports CNN Money.
So why is the 64-year-old Morrison out? The Wall Street Journal reports that a "bet on fresher foods during her seven-year tenure failed to revive sales." What's more, sales of US soup, a key metric for the company, rose in only one year under her watch. Board member Keith McLoughlin will replace Morrison on an interim basis, and he said in a conference call that the company will take a new look "with urgency" at its product portfolio, suggesting some brands might be sold. Pepperidge Farm, V8, and Bolthouse Farms are among those currently under the company's umbrella. (Read more Campbell's Soup stories.)