Jana Partners said that the decision to replace the CEO with another long-standing executive is a “stick in the eye” for shareholders.

Activist investor Jana Partners reiterated a call for Lamb Weston (NYSE:LW) to make board and leadership changes and if not the french fry maker should explore alternatives, including a sale. Jana, which combined with its partners,

Lamb Weston Holdings Inc. needs “significant” changes in leadership, and absent that, the company should consider options including a sale, according to activist investor Jana Partners.