Activist Investor Jana Extends Push for Change at Lamb Weston | Global News Avenue

Shares of Lamb Weston Holdings (long wave) after Friday’s gains activist investor Jana Partners has added another former company executive to its lineup of board candidates as it looks to shake up the frozen potato maker.

Jana showed in a regulatory filing that Jeffery DeLapp owns 458 voting shares. Delap served as president of Lamb Weston and rival potato supplier McCain Foods USA. Former Lamb Weston executive chairman Timothy McLevish has aligned himself with Jana, and the company now has six food industry executives who could challenge for board positions. Jana Holding more than 5% of shares In the company in October.

Shares of Lamb Weston have recently risen about 4%. Even with today’s gains, Lamb Weston shares are still down more than a third this year.

Jana took a swipe at the company last week after it released its second-quarter 2025 financial results, when Lamb Weston report Unexpected losses and lowered guidance. The company said demand for frozen potatoes is weak and it expects this to continue into 2026.

Lamb Weston also said that CEO Tom Werner will be succeeded by COO Michael J. Smith on January 3. In a statement, Jana called the outcome “catastrophic” and said the decision to replace its CEO with another Lamb Weston executive long involved in its widespread operational and strategic failures was simply the board’s decision. The latest blow. Completely failed shareholders. ”

It said “enough is enough”, called for major board changes and said if that didn’t happen the company should be sold.