Lamb Weston names COO Michael J. Smith CEO, succeeding Thomas P. Werner Jan. 3
Lamb Weston's Board appointed Chief Operating Officer Michael J. Smith as President and Chief Executive Officer, effective January 3, 2025, succeeding Thomas P. Werner, who steps down from the role and the Board on that date. Werner will serve in a non-executive advisory role through August 31, 2025. The filing describes a leadership transition from an internal candidate and sets out compensation terms for both executives.
Key points
- Smith, age 48, has been Chief Operating Officer since May 2023 and joins the Board as CEO effective January 3, 2025.
- Smith's compensation includes a $1,000,000 annual base salary and a target annual bonus of 150% of base salary under the AIP.
- Smith's target long-term incentive opportunity is approximately $5,250,000, starting with fiscal 2026 stock awards.
- Werner's advisory period runs through August 31, 2025, at an annual rate of $550,000, with full vesting of his outstanding stock-based awards.
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 December 23, 2024.
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