Activist Investor Jana Extends Push for Change at Lamb Weston

Shares of Lamb Weston Holdings (LW) roseate Friday aft activist investor Jana Partners added different erstwhile institution executive to its lineup of committee candidates arsenic it seeks to shingle up nan stiff murphy maker.

In a regulatory filing, Jana showed that Jeffery DeLapp had 458 voting shares. DeLapp had been president of Lamb Weston, arsenic good arsenic rival murphy supplier McCain Foods USA. Former Lamb Weston Executive Chair Timothy McLevish had already aligned pinch Jana, which now has six food-industry executives who could situation for a position connected nan board. Jana took a more-than-5% stake successful nan institution successful October. 

Shares of Lamb Weston were precocious up astir 4%. Even pinch today’s advance, Lamb Weston shares person mislaid much than a 3rd of their worth this year.

Jana past week blasted nan institution pursuing nan merchandise of its second-quarter 2025 financial results, erstwhile Lamb Weston reported an unexpected nonaccomplishment and trim its guidance. The institution cited softening request for stiff potatoes, which it sees continuing into 2026.

Lamb Weston besides said CEO Tom Werner would beryllium replaced connected Jan. 3 by COO Michael J. Smith. In a statement, Jana called nan results “disastrous,” and said nan determination to waste and acquisition its CEO "for different long-standing Lamb Weston executive complicit successful its wide operational and strategical debacles is conscionable nan latest instrumentality successful nan oculus from a Board that has wholly grounded shareholders.”

Saying “enough is enough,” it demanded a important committee alteration and said if that doesn’t occur, nan institution should beryllium sold.