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Lamb Weston has appointed seasoned consumer goods executive Jan Craps as executive chair and named James Gray as chief financial officer.

The leadership changes come as the frozen potato giant reiterates its fiscal year 2026 guidance and continues executing its long-term “Focus to Win” strategy aimed at accelerating growth and improving returns.

Craps assumes the newly established executive chair position effective 6 February 2026. He brings more than two decades of international leadership experience with Anheuser-Busch InBev, most recently serving as CEO and co-chair of Budweiser Brewing Company APAC and CEO APAC for Anheuser-Busch InBev.

Throughout his career, Craps has led large-scale transformations and integrations across Europe, Canada, Australia and Asia, managing multibillion-dollar consumer businesses in complex and emerging markets. He began his professional career at McKinsey & Company.

At Lamb Weston, Craps will focus on board leadership, governance, M&A and international market execution, partnering closely with President and CEO Mike Smith and the executive team to shape long-term strategy.

“I have a strong admiration for Lamb Weston as one of the premier foodservice companies in the world,” Craps said in a statement. “I look forward to partnering with Mike to capitalise on the strong opportunity in front of us to drive shareholder returns in this attractive, growing category.”

With Craps’ appointment, Bradley Alford will transition from chairman to lead independent director, maintaining oversight and governance continuity.

Gray will join Lamb Weston as CFO on 2 April 2026, succeeding Bernadette Madarieta, who will remain in an interim advisory role to support the transition.

Gray most recently served as executive vice president and CFO at Ingredion, where he spent 12 years helping guide the company’s financial and strategic direction. Earlier in his career, he held leadership roles at PepsiCo and began at Bain & Company.

Mike Smith, president and CEO of Lamb Weston, said “The experience and vision Jan and Jim bring to Lamb Weston will be critically important as we execute our Focus to Win strategy.”

Smith also thanked Madarieta for her five years as CFO and her contributions since Lamb Weston’s spinoff nearly a decade ago.