Lamb Weston Holdings, Inc. has announced two senior leadership appointments, alongside governance changes and confirmation of its fiscal year 2026 guidance.
Executive chair appointment
The company's board has appointed Jan Craps as executive chair, effective February 6, 2026. The role is newly created. Craps previously spent more than 20 years at Anheuser-Busch InBev, where he most recently served as CEO and co-chair of Budweiser Brewing Company APAC and CEO APAC. Earlier in his career, he worked at McKinsey & Company.
In the executive chair role, Craps will focus on board leadership, governance, mergers and acquisitions, international market execution, and long-term strategy, working alongside president and chief executive officer Mike Smith and the executive leadership team. Following this appointment, Bradley Alford will move from chairman of the board to lead independent director.
© Lamb Weston
Alford said: "Today's appointments of Jan and Jim will enhance ongoing efforts led by Mike and the management team to accelerate growth and improve execution and returns. I look forward to serving as lead independent director, providing independent oversight and ensuring strong corporate governance and accountability."
Craps said: "I have a strong admiration for Lamb Weston as one of the premier foodservice companies in the world. I 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."
Chief Financial Officer appointment
James D. Gray has been appointed chief financial officer, effective April 2, 2026. He will succeed Bernadette Madarieta, who will remain in an interim advisory role to support the transition. Gray previously served as executive vice president and CFO at Ingredion, where he worked for 12 years. His earlier experience includes roles at Bain & Company and PepsiCo.
Smith said: "The 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. I would also like to thank Bernadette for her leadership as CFO for the last five years and for her contributions to Lamb Weston since our spinoff nearly ten years ago. We wish her the very best."
Incentive awards and outlook
The board has approved supplemental incentive awards, including restricted stock units and stock options with exercise prices above the current share price, for selected executive officers, including Craps and Gray. Further details are included in the company's Form 8-K filing with the U.S. Securities and Exchange Commission.
Lamb Weston also reiterated the fiscal year 2026 guidance issued in its second-quarter earnings release dated December 19, 2025. Third-quarter results are scheduled for release on April 1, 2026.
For more information:
Debbie Hancock
Lamb Weston
Tel: +1 208 202 7259
Email: [email protected]
www.investors.lambweston.com
