Lamb Weston is naming a new CEO as the frozen French fry maker moved to a loss in its second quarter and trimmed its fiscal 2025 forecast. Shares tumbled more than 18% before the market open on Thursday. The Eagle, Idaho-based company said that Michael Smith, who currently serves as its chief operating officer, will become its CEO and join its board on Jan. 3, 2025. Smith takes over the CEO post from Thomas Werner, who will serve as an advisor through Aug. 31, 2025 to help with the transition process.
