Timothy McLevish

About Timothy R. McLevish

Timothy R. McLevish (age 70) is an independent director of Lamb Weston (LW) since July 2025. He is Managing Partner of Strategic Advisory Partners LLC (since December 2018), a CPA, and holds a B.S. in accounting from the University of Minnesota and an MBA from Harvard Business School; he is certified in cybersecurity oversight by the NACD. Previously he served as CFO at Walgreens Boots Alliance, Kraft Foods Group, Ingersoll-Rand, and Mead, and was Lamb Weston’s Executive Chairman from November 2016 to September 2017. He was appointed to LW’s Board pursuant to a Cooperation Agreement process where certain nominees were identified by JANA Partners and Continental Grain (he was identified by the Shareholder Parties) .

Past Roles

External Roles

Board Governance

The Audit & Finance Committee responsibilities include oversight of financial statements, auditor appointment/independence, internal audit, enterprise risk, liquidity/capital structure, dividends/repurchases, capex, IT/cybersecurity, and legal/compliance—aligning well with McLevish’s CFO background .

Fixed Compensation (Non-Employee Director Program)

Performance Compensation (Equity for Directors)

Other Directorships & Interlocks

LW reports no related-party transactions requiring disclosure since the start of the most recent fiscal year; Audit Committee pre‑approves/oversees any such transactions per policy .

Expertise & Qualifications

• Financial acumen and risk/compliance oversight; designated audit committee financial expert .
• Deep CFO experience across retail (Walgreens), CPG (Kraft, General Mills), and industrials (Ingersoll-Rand, Mead) .
• Cybersecurity oversight certification (NACD), relevant to the committee’s IT/cyber oversight remit .
• Strategic/M&A background and governance experience through multiple public company boards .

Equity Ownership

Insider Trades (Form 4)

Beneficial ownership table also lists 1,109 RSUs as of Aug 1, 2025, consistent with the July 2025 onboarding grant .

Governance Assessment

• Strengths for board effectiveness: Independent status with deep CFO credentials; designated audit committee financial expert; committee remit includes financial integrity, enterprise risk, capital allocation, and cybersecurity, areas directly aligned with his background. The Board’s anti‑hedging/pledging policies, independent committee structure, and regular executive sessions support objective oversight .
• Ownership alignment: Director compensation moving to 100% equity post‑2025 Annual Meeting and RSU grants to new appointees (including McLevish) emphasize alignment; director stock ownership guideline of $500,000 within five years enforces “skin in the game.” No pledging permitted; no related‑party transactions disclosed .
• Engagement/attendance: Company reports ≥75% attendance for all directors during periods served in FY 2025; McLevish joined in July 2025, post‑FY25 year‑end. Ongoing monitoring of his attendance/engagement will be important given audit responsibilities .
• Potential conflicts or red flags: None disclosed—no related‑party transactions, anti-hedging/pledging policy in place. Note: He previously served as LW Executive Chairman (2016–2017); the Board nonetheless determined him to be independent in 2025, consistent with standard look-back periods for prior employment relationships .
• Shareholder dynamics: His appointment followed a Cooperation Agreement with JANA Partners and Continental Grain, indicating active shareholder engagement and refreshment; this may signal increased focus on governance, capital allocation, and performance accountability .

Overall implication: McLevish’s audit expertise and equity‑heavy director pay structure are positives for investor confidence and oversight quality. Continued transparency around committee outputs (risk, cyber, capital structure) and his ownership progression toward the guideline will be key indicators to track over the next 12–24 months .