\nLamb Weston Holdings, Inc. (NYSE: LW) announced today two leadership appointments intended to accelerate growth and drive long-term shareholder value.<\/p>\n
Jan Craps Appointed Executive Chair<\/span><\/b><\/p>\n \nThe Lamb Weston board of directors has appointed Jan Craps executive chair, effective February 6, 2026. Jan brings deep international experience to the newly created role, including more than 20 years with Anheuser-Busch InBev, most recently as the CEO and Co-Chair of Budweiser Brewing Company APAC, and CEO APAC for Anheuser-Busch InBev. Jan has shaped emerging and complex markets globally, managed strategic integrations and transformations, and has led and grown multibillion dollar consumer businesses across Europe, Canada, Australia and Asia. Jan began his career at McKinsey & Company.<\/p>\n \nAt Lamb Weston, Jan will help unlock the company\u2019s potential and performance, with a particular focus on board leadership, M&A, governance, oversight, international market execution, and the company\u2019s long-term strategy alongside Mike Smith, president, CEO, and board member, and the company\u2019s leadership team. With Jan\u2019s appointment, Bradley (Brad) Alford will transition from chairman of the board to lead independent director.<\/p>\n James D. Gray Appointed Chief Financial Officer<\/span><\/b><\/p>\n \nJames (Jim) D. Gray will join Lamb Weston as chief financial officer (CFO), effective April 2, 2026, succeeding Bernadette Madarieta, who will serve in an interim advisory capacity to ensure continuity across all financial functions during a transition period.<\/p>\n \nJim has spent the last 12 years with Ingredion, a leading global ingredients solutions company, where he served as executive vice president and CFO. Jim began his career at Bain & Company and held finance leadership roles with PepsiCo for more than a decade.<\/p>\n \n\u201cToday\u2019s appointments of Jan and Jim will enhance ongoing efforts led by Mike and the management team to accelerate growth and improve execution and returns,\u201d said Bradley Alford, chairman of the Lamb Weston board. \u201cI look forward to serving as lead independent director, providing independent oversight and ensuring strong corporate governance and accountability.\u201d<\/p>\n \n\u201cI have a strong admiration for Lamb Weston as one of the premier foodservice companies in the world,\u201d said Jan Craps, Lamb Weston executive chairman. \u201cI look forward to partnering with Mike to capitalize on the strong opportunity in front of us to drive shareholder returns in this attractive, growing category.\u201d<\/p>\n \n\u201cThe experience and vision Jan and Jim bring to Lamb Weston will be critically important as we execute our Focus to Win strategy. I look forward to working closely with them as we prioritize markets and channels, strengthen customer partnerships, achieve executional excellence, and set the pace for innovation,\u201d said Mike Smith, president and chief executive officer, Lamb Weston. \u201cI would also like to thank Bernadette for her leadership as CFO the last five years and contributions to Lamb Weston since our spinoff nearly ten years ago. We wish her the very best.\u201d<\/p>\n Supplemental Incentive Awards<\/span><\/b><\/p>\n \nAs part of the board\u2019s continued efforts to drive performance and increase alignment between shareholders and senior management, the board approved supplemental incentive awards of restricted stock units and stock options with exercise prices significantly higher than the current fair market value of Lamb Weston stock to certain executive officers, including Mr. Craps and Mr. Gray. Details on the program can be found in the company\u2019s Current Report on Form 8-K filed today with the Securities and Exchange Commission.<\/p>\n Reiterates Fiscal Year 2026 Guidance<\/span><\/b><\/p>\n \nThe company reiterates its most recent guidance included in its fiscal year 2026 second quarter earnings release on December 19, 2025. Lamb Weston will release third quarter earnings on April 1, 2026. Details will be available via press release and on the company\u2019s website.<\/p>\n About Lamb Weston<\/span><\/b><\/p>\n \nLamb Weston is a leading supplier of frozen potato products to restaurants and retailers around the world. For 75 years, Lamb Weston has led the industry in innovation, introducing inventive products that simplify back-of-house management for its customers and make things more delicious for their customers. From the fields where Lamb Weston potatoes are grown to proactive customer partnerships, Lamb Weston always strives for more and never settles. Because, when we look at a potato, we see possibilities. Learn more about us at lambweston.com<\/a>.<\/p>\n Forward-Looking Statements<\/span><\/b><\/p>\n \nThis press release contains forward-looking statements within the meaning of the federal securities laws. Words such as \u201caccelerate,\u201d \u201cdrive,\u201d \u201c grow,\u201d \u201cwill,\u201d \u201cunlock,\u201d \u201censure,\u201d \u201cenhance,\u201d \u201cimprove,\u201d \u201cexecute,\u201d \u201cprioritize,\u201d \u201cstrengthen,\u201d \u201cachieve,\u201d and \u201creiterate,\u201d and variations of such words and similar expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding: the Company\u2019s business and financial outlook and prospects; and the Company\u2019s plans and strategies. These forward-looking statements are based on management\u2019s current expectations and are subject to uncertainties and changes in circumstances. Readers of this press release should understand that these statements are not guarantees of performance or results. Many factors could affect these forward-looking statements and the Company\u2019s actual financial results and cause them to vary materially from the expectations contained in the forward-looking statements, including those set forth in this press release. These risks and uncertainties include, among other things: consumer preferences, including restaurant traffic in North America and the Company\u2019s international markets, and an uncertain general economic environment, including as a result of tariffs and other trade policies, inflationary pressures and recessionary concerns, any of which could adversely impact the Company\u2019s business, financial condition or results of operations, including as a result of impacts on the demand and prices for the Company\u2019s products; the availability and prices of raw materials and other commodities; operational challenges; the Company\u2019s ability to successfully implement its previously announced Cost Savings Program, Restructuring Plan and other cost savings or efficiency initiatives, including achieving the benefits of those activities and possible changes in the size and timing of related charges; difficulties, disruptions or delays in implementing new technology; levels of labor and people-related expenses; the Company\u2019s ability to successfully execute its long-term value creation strategies, including Focus to Win; the Company\u2019s ability to execute on large capital projects; the competitive environment and related conditions in the markets in which the Company operates; political and economic conditions in the countries in which the Company conducts business and other factors related to its international operations; disruptions in the global economy caused by conflicts such as the war in Ukraine and conflicts in the Middle East and the possible related heightening of the Company\u2019s other known risks; the ultimate outcome of litigation or any product recalls or withdrawals; changes in the Company\u2019s relationships with its growers or significant customers; impacts on the Company\u2019s business due to health pandemics or other contagious outbreaks, such as the COVID-19 pandemic, including impacts on demand for its products, increased costs, disruption of supply, other constraints in the availability of key commodities and other necessary services or restrictions imposed by public health authorities or governments; disruption of the Company\u2019s access to export mechanisms; risks associated with integrating acquired businesses; risks associated with other possible acquisitions; the Company\u2019s debt levels; actions of governments and regulatory factors affecting the Company\u2019s businesses; the Company\u2019s ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends; and other risks described in the Company\u2019s reports filed from time to time with the Securities and Exchange Commission (\u201cSEC\u201d). The Company cautions readers not to place undue reliance on any forward-looking statements included in this press release, which speak only as of the date of this press release. The Company undertakes no responsibility for updating these statements, except as required by law.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260204262842\/en\/<\/a><\/span><\/p>\n \nInvestors: Media: KEYWORDS:<\/b> Idaho United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Retail Restaurant\/Bar Food\/Beverage<\/p>\n<\/p>\n
\n
Debbie Hancock
\n
208-202-7259
\n
investors@lambweston.com
\n<\/a><\/p>\n
\n
Erin Gardiner
\n
208-202-7257
\n
communication@lambweston.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260204262842\/en\/2710253\/3\/Lamb_Weston_Logo_new_1_%281%29.jpg\"){kind=logo}
<\/td>\n<\/tr>\n