Lamb Weston Holdings, Inc. (NYSE: LW) has today announced the appointment Michael J. Smith, the current Chief Operating Officer at Lamb Weston, as President and Chief Executive Officer, as well as an official member of the Board of Directors. The appointment will take effect the 3rd of January, 2025. The new Mr. Smith succeeds Thomas P. Werner who will be retiring as CEO, and as an individual member of the Board. The former CEO Mr. Werner will serve in the role of advisor until the end of August 2025 for an easy transition.

He. Smith joined Lamb Weston in 2007 and has held in increasingly high-level leadership positions over the span of 17 years with the company. Through the course of Mr. Smith’s time with Lamb Weston, he has been an important leader, driving rapid growth in various aspects of the business.

W.G. Jurgensen W.G. Jurgensen, Chairman of Lamb Weston’s Board of Directors, W.G. Jurgensen said. Board of Lamb Weston said, “We are thrilled to get Mike Smith lead Lamb Weston into the next stage of growth for the business. Mike’s appointment is the result of a long-term, thoughtful succession plan developed that was formulated by the Board which has led us to be convinced that he’s the ideal manager to steer Lamb Weston forward. Mike has cultivated a thorough knowledge of the various aspects of our company and commercial activities. Additionally, he will provide a new perspective on the job, bringing an amalgamation of strategic thinking as well as the utmost focus on seizing new opportunities for our operations and markets and an appreciation of our customers, employees, and our partners.”

The Mr. Smith said, “I am honored to have been appointed CEO, and I look forward to working with our team of talented employees within Lamb Weston. Together, we’ll work to create profits and increase Lamb Weston’s status as a world market leader in product that is frozen. I am enthusiastic about the possibilities that lie ahead for our business and am convinced that our relentless determination to provide customer satisfaction continuous improvement in operations, and advancement will help us increase value for our shareholders. In addition, I would like thank Tom for his dedication to leadership and his dedication to Lamb Weston and its employees.”

The Mr. Werner said, “It was a pleasure to be the leader of Lamb Weston. I’m proud of the things we’ve accomplished. I would like to extend my gratitude to all the staff members who, thanks to their dedication and hard work towards the business, have contributed to our successes. In light of all the accomplishments we’ve made with each other and the challenges that lie to come I, along with the Board together with me decided that this was the best time to put in place the succession plan and give a new executive the opportunity to lead the business. I’ve worked with Mike and observed his charismatic leadership style based on values, and his unwavering commitment to individuals and his comprehensive knowledge of business. I’m sure that Lamb Weston will be a successful company under his leadership. Lamb Weston team is well-positioned to succeed under his direction.”

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Erin Gardiner

Lamb Weston Holdings

Tel: +1 208 202 7257

Email: [email protected]

www.news.lambweston.com