Lamb Weston Holdings, Inc. (NYSE: LW) announced that Jan Craps will become Executive Chair effective February 6, 2026, and James D. Gray will assume the role of Chief Financial Officer on April 2, 2026. The appointments are part of the company’s “Focus to Win” strategy, which targets $250 million in annualized cost savings by fiscal 2028 and seeks to strengthen governance and execution across the business.
Jan Craps brings more than two decades of experience from Anheuser‑Busch InBev, where he served as CEO and Co‑Chair of Budweiser Brewing Company APAC and as CEO of the APAC region. In his new role, Craps will lead the board, oversee capital allocation, and drive strategic investments, leveraging his global market expertise to support Lamb Weston’s expansion of its broker sales model and the ramp‑up of its Mar del Plata facility in Argentina.
James Gray, who has spent 12 years at Ingredion as executive vice president and CFO and previously held finance leadership roles at PepsiCo, will take over the company’s financial stewardship. Gray will replace Bernadette Madarieta, who will remain in an advisory capacity during the transition. Gray’s deep experience in consumer‑goods and foodservice finance is expected to reinforce disciplined capital allocation and enhance shareholder returns.
The leadership changes reinforce Lamb Weston’s commitment to disciplined execution and growth. The new Executive Chair and CFO will oversee the company’s cost‑saving program, the expansion of its broker sales model, and the consolidation of production at the Mar del Plata facility, which opened in October 2025 and will replace the former Munro plant. These initiatives are designed to improve operational efficiency and position the company for sustainable profitability in a cyclical industry facing oversupply and price/mix pressures.
"The experience and vision Jan and Jim bring to Lamb Weston will be critically important as we execute our Focus to Win strategy," said Mike Smith, President and CEO. Brad Alford, Board Chair, added, "Lamb Weston is taking aggressive and decisive actions to improve focus and shareholder returns, and the appointments are a strong first step toward that goal."
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