A former chief executive of Budweiser Brewing Co. will co-lead Eagle-based French fry giant Lamb Weston Holdings Inc.
Jan Eli B. Craps, 48, was named executive chairman, effective February 6.
In the newly created role, he will work with President, CEO and board member Mike Smith to drive growth for the Idaho company, which has struggled in recent years with declining revenue and stock prices.
Craps has worked at AB InBev for more than 20 years, holding a variety of executive roles, including serving as president of the Budweiser beer subsidiary before leaving in April 2025.
“Jan has shaped emerging and complex markets around the world, managed strategic integration and transformation, and led and grown multi-billion dollar consumer businesses in Europe, Canada, Australia and Asia,” Lamb Weston said in a statement announcing a series of executive changes.
Lamb Weston is North America’s largest maker of french fries and a major supplier to restaurants, grocery stores and fast-food chains, including McDonald’s. The company has more than 1,000 employees in Idaho, according to the Idaho Department of Labor.
Its headquarters is located near the intersection of Eagle Road and State Street in Eagle City. The company has two plants in Twin Falls and American Falls, Idaho, and supplies from potato growers in the area.
The company is a major player in Washington’s $1 billion potato industry. The company has about 3,000 employees in the central Colombia region, where it has corporate offices, research facilities and a dozen processing plants that turn potatoes into French fries for customers such as McDonald’s.
Lamb Weston has struggled with performance issues in recent years, including in 2024 when the company closed one of its oldest processing plants in Cornell, Washington, to save money. The move affects nearly 400 employees.
Investment analysis firm Simply Wall Street said price cuts and declining traffic at fast-food restaurants will continue to impact profits. But Lamb Weston said the company has made progress recently, reopening some factories and increasing sales. “The business turnaround is not linear, but we’re pleased with it,” Smith told shareholders in a Dec. 19 earnings report.
In its most recent quarterly earnings statement, the company reported net income of $62.1 million on net sales of $1.6 billion, or 44 cents per share. Lamb Weston reiterated its fiscal 2026 target of $6.35 billion to $6.55 billion. The company ranks No. 551 by revenue on the Fortune 1000 list of U.S. public and private companies.
The company’s shares hit a 52-week low of just under $40 on January 7 and have since risen, closing Friday at just under $50. The 52-week high is $67.07.
