Ranks of Top Female CEOs Just Got Thinner

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.