ConAgra Foods, Inc. announced more details about its plan to separate into two separate companies. On Wednesday, the company announced Thomas Werner will take over as CEO of its Lamb Weston potato business spinoff. Timothy McLevish will be named executive chairman of the Lamb Weston board of directors upon completion of the split expected to be finalized by the fall.
“I’m excited to be named executive chairman of Lamb Weston,” says McLevish, current ConAgra director. “I’ve had the opportunity to get to know this business very well, and I believe it has terrific prospects as a stand-alone company. We are extremely well-positioned for long-term growth and shareholder value creation.”