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Campbell Soup Co. named Philip Lippincott, a board member and former chairman and chief executive of Scott Paper Co., as chairman. Lippincott, 63, succeeds David Johnson, 66, who in July 1997 gave up the chief executive’s position and said he would retire as chairman. The change is effective Aug. 1. Dale Morrison will remain president and CEO of the company.
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Costco Cos. said its earnings rose 24% in the fiscal third quarter to $105.9 million, or 46 cents a share, 2 cents better than forecasts, as it added more services and increased its profitable private-label offerings. Revenue, including membership fees, rose 13% to $6.1 billion. Sales at warehouses open at least a year rose 9%.
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