Lamb Weston President Marc Schroeder resigns, stays as advisor until February

Lamb Weston Holdings, Inc. (NYSE: LW) disclosed a transition and separation agreement with Marc Schroeder, the company's President, International, following his resignation. The arrangement, approved by the Compensation and Human Capital Committee, was finalized on October 5, 2026, to ensure a smooth handover of duties.

Schroeder will remain in his current role through December 31, 2026, before shifting to an advisory capacity that extends until February 15, 2027. As part of the separation terms, he agreed to a general release of claims against Lamb Weston. He is also bound by confidentiality, non-compete, and non-solicitation provisions that will stay in effect for one year after his separation date.

The agreement specifies that Schroeder will not receive cash severance payments. For equity compensation, he will receive a prorated vesting of his fiscal 2025 and 2026 awards based on his tenure from the grant dates until he leaves the company. This proration excludes supplemental incentive stock options granted in February 2026. Any performance shares are subject to final certification by the Compensation and Human Capital Committee at the end of the relevant performance cycle. Schroeder will have until the third anniversary of his separation to exercise any outstanding stock options.

Additionally, the deal allows Schroeder to remain eligible for a prorated annual incentive award for fiscal 2027, contingent on actual performance for the period he remains with the firm. The Form 8-K was signed by Eryk J. Spytek, General Counsel and Chief Compliance Officer, on October 6, 2026.