ConAgra this week announced the top leadership that will take over its frozen potato business once it is spun into a separate company later this year.
The Chicago food company filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission regarding initial plans to split into Conagra Brands Inc. and Lamb Weston Holdings Inc.
The filing disclosed that Thomas Werner, the president of ConAgra's commercial foods business, will take over as CEO of the newly independent Lamb Weston, while current company director Timothy McLevish will serve as Lamb Weston's executive chairman of the board of directors.
“As Lamb Weston prepares for life as an independent company, it is ideally suited to continue to deliver leading products for our customers and value for our shareholders," Werner said in a statement. "I look forward to leading our talented team as we capitalize on the opportunities that lie ahead.”
ConAgra announced the spin-off late last year amid efforts to focus on its core operations and brands. Lamb Weston's products will include frozen potato, sweet potato, appetizer and other vegetable products, as well as products under licensed and private brands.
The company will provide additional details to investors prior to the split. A recent report suggested that St. Louis cereal maker Post Holdings was considering a merger with Lamb Weston.