Lamb Weston Holdings Inc., the Idaho-based french fry giant supplying McDonald's, named Jan Craps as its new executive chair on February 6th. Craps, a 48-year-old former president of Budweiser Brewing Co., joins alongside current CEO Mike Smith to steer the company through recent turmoil. Lamb Weston, the largest North American french fry producer, has faced falling share prices and revenue struggles, including plant closures and price cuts affecting profits. The company reported $62.1 million net income on $1.6 billion sales in its latest quarter, though its stock remains near a 52-week low.

Craps brings extensive experience from Anheuser-Busch InBev, where he spent over 20 years in executive roles across Europe, Canada, Australia, and Asia. His appointment signals a strategic shift for the company, which employs over 1,000 Idaho workers and is a major player in the $1 billion Washington potato industry. The company has made recent progress, reopening plants and increasing sales, but analysts note the turnaround is not linear. Smith stated in December that the company is 'pleased' with the progress made so far.

The move aims to reverse Lamb Weston's recent performance issues and stabilize its position as a key supplier to the fast-food sector, particularly McDonald's. The company's future trajectory under Craps's leadership remains a critical focus for investors monitoring its recovery.