Cans of Campbell's soup are displayed on a shelf at a grocery store on June 05, 2019 in Richmond, California.

"Soup is our middle name," Mark Clouse, CEO of Campbell Soup Company, reminded the audience during the company's investor day on Thursday.

And the company plans on reviving its namesake.

Clouse started his tenure as CEO in January after a run in the same position at Pinnacle Foods. He came on as the company was under pressure from activist firm Third Point, which had lambasted Campbell for a string of quarterly misses. Part of Clouse's mandate has been to revive its soup business, which has contributed to Campbell's weak performance.

Some of the business has already shown signs of improvement. Shares of Campbell are up 29% year-to-date, giving it a market capitalization of $12.8 billion, boosted in part by sales in its Pepperidge Farms snacking business.

Still, sales of soup, which are roughly a quarter of Campbell's annual sales, continue to lag. Many of its soup products are condensed, off-trend with today's health-focused consumers. Sales of Campbell's soup have fallen 4% over the past year, according to Nielsen. Falling soup sales over the past few years has led to declining clout with retail giants like Walmart.

Clouse is looking to change that. He listed a number of new innovations the company is planning, many of which will aim to take advantage of recent trends in wellness.