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Stock impact report

Jana Partners signs up sixth executive as it pushes for changes at Lamb Weston, filing shows [Yahoo! Finance]

Lamb Weston Holdings, Inc. (LW) 
Last lamb weston holdings, inc. earnings: 4/1 08:30 am Check Earnings Report
US:NYSE Investor Relations: lambweston.com/investors
Company Research Source: Yahoo! Finance
NEW YORK(Reuters) - Jana Partners is working with a sixth executive to push for changes at Lamb Weston, signaling the activist investor may seek to replace the majority of the french fry maker's board, according to a regulatory filing made on Friday. Potato industry veteran Jeff Delapp, who previously served as president of Lamb Weston and then as president of Lamb Weston competitor McCain Foods, North America, joined the fund's lineup of executives who could become board candidates. Jana Partners owns more than 5% of Lamb Weston and has been pushing the company to improve operations and capital allocation or put itself up for sale. Last week, disappointing Lamb Weston earnings sent the stock price tumbling as much as 20%. Since January Lamb Weston shares have dropped 39%. The company also made an unexpected CEO change when it said it was replacing Chief Executive Officer Tom Werner with Chief Operating Officer Michael Smith. It said the "appointment represents the culmination Show less Read more
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