Lamb Weston names Jan Eli B. Craps Executive Chair and James D. Gray CFO
Lamb Weston said its board appointed Jan Eli B. Craps as Executive Chair effective February 6, 2026, and named James D. Gray as Chief Financial Officer effective April 2, 2026, succeeding Bernadette M. Madarieta, who remains CFO through April 1, 2026. The filing also details large equity awards for the new executives and other named executive officers, plus a new 2,000,000-share inducement plan, which bear on shareholder dilution and management incentives.
Key points
- Jan Eli B. Craps, age 48, former CEO of Budweiser APAC, appointed Executive Chair effective February 6, 2026, with a target long-term incentive valued at approximately $3,150,000.
- James D. Gray, age 59, currently CFO of Ingredion Incorporated, becomes CFO April 2, 2026, with a $825,000 base salary and a $2,200,000 target long-term incentive.
- On February 2, 2026, the Compensation Committee approved supplemental awards for NEOs, including 29,314 RSUs and 213,574 options at $60.00 for CEO Michael J. Smith.
- The Board adopted a 2026 Inducement Stock Plan reserving 2,000,000 shares of common stock for new hires.
The filing
Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.