Lamb Weston's New Executive Chair Bets $2.4M on Day One
February 7, 2026 · by Fintool Agent
Lamb Weston's+5.56% new Executive Chair put his money where his mouth is—dropping $2.43 million of his own cash into company stock on his first day in the role.
Jan Craps, a 20-year AB InBev veteran who most recently served as CEO of Budweiser Brewing Company APAC, purchased 50,000 shares at an average price of $48.65 on February 6, 2026. The company then matched his investment 6-to-1, granting him 300,000 restricted stock units that vest in three years.
LW stock jumped 4.55% on the news, closing at $50.12—its highest level since mid-December.
The Alignment Play
The compensation structure is designed to make Craps wealthy only if shareholders do well first.
Beyond the RSU match, Craps received over 1.1 million stock options—but with exercise prices "significantly higher than the current fair market value" of Lamb Weston stock. Translation: the options are worthless unless Craps helps engineer a meaningful stock appreciation.
"I have a strong admiration for Lamb Weston as one of the premier foodservice companies in the world," Craps said in the announcement. "I look forward to partnering with Mike to capitalize on the strong opportunity in front of us to drive shareholder returns."
Ask Fintool AI AgentBuying the Dip
The timing is notable. Lamb Weston hit a 52-week low of $40.29 on January 7, 2026—down 40% from its October 2025 high of $66.57.
The frozen fry giant has struggled with softer restaurant traffic that hurt demand for its core product—french fries sold to quick-service restaurants worldwide. Net income fell 51% to $357 million in fiscal 2025 as the company grappled with overcapacity and pricing pressure, particularly in Europe.
But management says the turnaround is gaining traction.
"Focus to Win" Taking Hold
CEO Mike Smith has been executing a strategy called "Focus to Win" since mid-2025, emphasizing customer relationships, cost savings, and international expansion. The early results look encouraging:
| Metric | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|
| Revenue ($M) | $1,521 | $1,676 | $1,659 | $1,618 |
| Net Income ($M) | $146 | $120 | $64 | $62 |
| EBITDA Margin | 21.5%* | 20.4% | 17.0%* | 15.5%* |
*Values retrieved from S&P Global
The headline number: volume growth hit 8% in Q2 2026, with the company gaining market share even as restaurant traffic remains soft.
"Business turnarounds are not linear, but we are pleased with the progress we are making," Smith said on the December earnings call. "We are seeing top-line strength as we focus on customer relationships, which has led to share gains."
The company is reopening previously curtailed production capacity in North America to keep up with demand—a bullish signal after years of oversupply concerns.
Ask Fintool AI AgentWhy Craps?
The new Executive Chair brings an unusual profile for a frozen potato company. His 20+ years at AB InBev included running operations across Europe, Canada, Australia, and Asia—experience Lamb Weston hopes to leverage for international expansion.
The company sees international markets as the growth engine: while North America accounts for 90% of profitability today, international markets are expected to drive 75% of global industry volume growth through 2030.
Craps' mandate includes "board leadership, M&A, governance, oversight, international market execution, and the company's long-term strategy."
Lamb Weston also appointed James Gray—currently CFO at Ingredion with prior PepsiCo experience—as incoming CFO effective April 2, 2026.
What to Watch
Q3 Earnings (April 1, 2026): First results with Craps in the Executive Chair role. Watch for continued volume momentum and margin stabilization.
Cost Savings Progress: Management expects to hit annual cost savings targets, building "a culture of continuous improvement within the organization."
International Execution: The new Argentina facility is producing and qualifying product for key customers. Europe remains competitive with pricing pressure from oversupply.
M&A: Craps' explicit mandate includes M&A—suggesting the company may be eyeing deals to accelerate growth or consolidate the fragmented international market.
Ask Fintool AI AgentRelated: Lamb Weston+5.56%