Frozen French fry maker Lamb Weston names new CEO, moves to loss in Q2
Lamb Weston, a major supplier of frozen French fries to global chains like McDonald’s, KFC and Taco Bell, has named a new CEO after posting a surprise loss in the second quarter as consumers pull back
Lamb Weston Replaces CEO, Cuts Outlook, Posts Surprise Loss
Lamb Weston posted a surprise quarterly loss as demand for its potatoes and fries fell below historical rates. The company also named a new CEO and lowered its forecast for sales for the full year.The stock sank 23% to to $60.
Lamb Weston names Michael Smith as new CEO, cuts sales outlook
The listed business, based in Idaho, has appointed current COO Michael Smith as its CEO and president, effective 3 January. He replaces Thomas Werner, who is stepping down as CEO and as a member of the board, although he will remain with the business in an advisory capacity until next August.
Lamb Weston swaps CEO. Cuts forecast. Stock falls. Activist investor remains unhappy
Just days after an activist investor urged leadership changes at Eagle-based Lamb Weston, the company’s CEO of more than eight years is out. The potato products company appointed Michael J. Smith, the company’s current Chief Operating Officer to the CEO job starting on January 3.
French-Fry Maker Lamb Weston Replaces CEO and Cuts Outlook; Stock Tumbles
Lamb Weston (LW) replaced its chief executive and slashed guidance again as demand for frozen potato products sputters, sending its shares tumbling. The French-fry maker said Thursday that Thomas Werner has stepped down as CEO and left the board.
Lamb Weston replaces CEO amid push from Jana as forecast cuts singe shares
Lamb Weston trimmed its annual forecasts and replaced its CEO with insider Michael Smith on Thursday, following pressure from activist investor Jana Partners to revamp its top management or sell itself.
Morning Movers: Lamb Weston tanks after second quarter results and CEO change
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Lamb Weston Replaces CEO, Cuts Outlook
Lamb Weston Holdings said it was replacing its chief executive and slashing guidance again as demand for frozen potato products sputters, sending shares sharply lower.
Why Lamb Weston (LW) Stock Is Falling Today
Shares of potato products company Lamb Weston (NYSE:LW) fell 21.5% in the morning session after the company reported ...
Why Lamb Weston Stock Was Diving Today
Shares of Lamb Weston ( LW -21.23%) -- North America's largest potato producer -- were sliding again after it delivered third ...
The sharks are circling Idaho french-fry maker as activist investor demands changes
We believe this dismal performance record significantly understates the magnitude of lost opportunity,” the investor group ...
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Lamb Weston Takes A Hit From High Manufacturing Costs And Softer Volumes, Expects Challenging Conditions Till 2026
Lamb Weston Q2 earnings miss estimates, with revenues down 8%, and FY25 outlook slashed to $6.35B-$6.45B. CEO Thomas ...
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Lamb Weston gains after report Post Holdings eyeing deal
Lamb Weston (NYSE:LW) rose 5% after a report that Post Holdings (POST) is exploring a possible deal with the maker of ...
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Post Holdings eyeing acquisition of Lamb Weston
Post has a market value of about $7 billion, while Lamb Weston has a market value of approximately $10.5 billion. Wall Street ...
These Stocks Are Moving the Most Today: Micron, Tesla, Palantir, Quantum Computing, Lamb Weston, Accenture, Vertex, Darden, and More
Micron stock tumbles after the maker of memory chips issues a weak second-quarter outlook, Tesla shares extend losses, and ...
Activist Jana reiterates call for Lamb Weston board changes, sale process
Activist investor Jana Partners reiterated a call for Lamb Weston (NYSE:LW) to make board and leadership changes and if not ...