WASHINGTON (dpa-AFX) - JANA Partners, which holds a 7 percent stake in Lamb Weston Holdings, Inc. (LW), has publicly called for significant changes to the company's Board of Directors, citing deep dissatisfaction among shareholders.
In an open letter dated June 3, 2025, JANA highlighted findings from a recent independent shareholder survey that revealed over 80% of Lamb Weston investors support major board reform, with the majority favoring a full overhaul.
The survey, which included roughly 80 percent of Lamb Weston's top 70 shareholders (excluding JANA and its affiliates), gave the current Board an average confidence rating of just 1.3 out of 10. Respondents also voiced strong criticism of the company's CEO succession process and overall leadership strategy.
JANA emphasized that a simple CEO replacement or hiring consultants is not enough to address the long-standing governance and performance issues. The firm urged other shareholders to directly communicate their concerns to the company and push for urgent board-level changes to restore trust and shareholder value.
LW is currently trading at $55.84 or 1.85% higher on the NYSE.
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