Connolly succeeds Sara Lee CEO Marcel Smits, who has been running the North American business since September and steps down now that a permanent executive has been named. Connolly's appointment is effective on Jan. 17.
Executive Chairman Jan Bennink said in a statement that Sara Lee chose Connolly in part because of his "extensive experience in the American food industry, coupled with a strong track record as a great innovator, particularly in mature categories."
"These strengths will allow him to take a fresh look at the business and enable the company to reach its full potential," Bennink said.
Sara Lee's personnel announcement comes three days after the company said that it has purchased Tea Forte to enhance its foothold in the fast-growing tea business. Terms of the deal were not disclosed.
Connolly, 46, serves as president of Campbell North America, which is the soup maker's biggest unit and makes up $4.6 billion in annual revenue. He has served in the position since October 2010.
Before that, Connolly was president of Campbell USA and president of North American Foodservice. Connolly started with Campbell Soup as vice president of food brands in 2002.
Prior to joining Campbell Soup, Connolly held various roles at consumer products company Procter & Gamble Co.
Campbell Soup has named Mark Alexander, 47, as Connolly's successor. He serves as president of Campbell International, handling the company's businesses in Europe, Latin America and the Asia Pacific region.
Campbell North America includes Campbell's North America Soup, Sauces and Beverages business, Campbell Canada, and Campbell's North America Food Service business. Campbell Soup's brands include Pepperidge Farm, Arnott's, V8 and Campbell's.
Alexander, who joined Campbell Soup in 1989, takes on the role on Jan. 16.
Sara Lee shares slipped 2 cents, to $18.85, in morning trading Friday, while Campbell Soup's stock dropped 12 cents, to $31.69 per share.