Lamb Weston Announces changes of its Board of Directors

Lamb Weston Holdings, Inc. (NYSE: LW) announced today the appointments of Andre J. Hawaux, Executive Vice President and Chief Operating Officer of DICK’S Sporting Goods, Inc., and Hala G. Moddelmog, President and CEO of the Metro Atlanta Chamber, to its Board of Directors, effective July 19, 2017.

The company also announced that Executive Chairman Timothy R. McLevish has decided not to seek re-election to the company's Board of Directors. Mr. McLevish will remain in his current role until the company’s Annual Meeting of Stockholders on Sept. 28, 2017.

The company’s Board of Directors will appoint current lead independent director W.G. Jurgensen to the role of Non-Executive Chairman following the company’s Annual Meeting.

Tom Werner, President and CEO, Lamb Weston:

“I am pleased that we have two outstanding new additions to the Board.”

“Hala and Andre bring strategic skills and strong operational expertise that will be instrumental as we continue to build Lamb Weston.”

“I also want to thank Tim McLevish for his partnership in building the foundation for an independent Lamb Weston. During a time of significant change, we have benefited greatly from Tim’s deep industry knowledge, financial acumen and experience in spinning off public companies.”

Tim McLevish:

“Since Lamb Weston’s spin-off in November 2016, the company has made substantial progress as a strong independent company.”

“I am confident in the company’s business and management and believe Lamb Weston is well-positioned for future success.”

“As a result, I have determined it is the right time for me to transition out of my role with Lamb Weston.”

Mr. Hawaux has served as the Executive Vice President and Chief Operating Officer of DICK’S since August 2015. Hawaux joined DICK'S in 2013 as Executive Vice President, Finance, Administration and Chief Financial Officer. Prior to joining DICK'S, he was most recently President, Consumer Foods at Conagra Brands, Inc. Previously, he served as Conagra Brands’ Executive Vice President, Chief Financial Officer from 2006 to 2009.

Ms. Moddelmog has served as the President and CEO of the Metro Atlanta Chamber since 2014. She is the first woman to lead the 156-year-old organization, which covers 29 counties and more than 15 Fortune 500 companies, as well as a multitude of small and medium-sized enterprises in the 9th largest metropolitan region in the United States. Moddelmog also served as President of Arby’s Restaurant Group, Inc. from 2010 to 2013 and prior to that, held the CEO position with Susan G. Komen for the Cure.

Mr. McLevish joined Lamb Weston in November 2016 as Executive Chairman in preparation of Lamb Weston’s separation from its former parent, Conagra Brands, Inc. Before the separation, McLevish served on the Board of Directors of Conagra Brands.

Mr. Jurgensen served on the board of directors of Conagra Brands for 14 years prior to Lamb Weston’s separation from its former parent and as chief executive officer and a director of Nationwide Financial Services, Inc., and its parent Nationwide Mutual Insurance Company, from 2000 until his retirement in 2009. Mr. Jurgensen also serves on the Board of Directors of American International Group, Inc. and has chaired its audit committee since May 2013.