Lamb Weston appoints new Chief Information Officer

EAGLE, Idaho - Lamb Weston Holdings, Inc. (NYSE: LW), a prominent supplier of frozen potato and sweet potato products with an annual revenue of $6.4 billion and EBITDA of $1.23 billion, has announced the appointment of Benjamin Heselton as its new Chief Information Officer. Heselton will spearhead the company’s global technology strategy, acting as a key liaison across various sectors of the company to implement technological advancements. According to InvestingPro analysis, the company currently appears undervalued, with strong fundamentals including a healthy current ratio of 1.35.

Heselton’s move to Lamb Weston follows a significant tenure at Wurth IT USA, where he held the position of Chief Technology Officer. His responsibilities there included overseeing IT services for Wurth’s North American operations, leading global software development initiatives, and being an integral member of the Global Information Security Council. With 18 years at The Wurth Group, Heselton has accumulated a wealth of experience, having served as Chief Information Officer and Vice President of Information Technology and Project Management for different divisions.

Mike Smith, President and CEO of Lamb Weston, praised Heselton’s appointment, citing his strong leadership in technology and a practical approach to solutions. Smith expressed confidence that Heselton’s extensive industry experience and strategic insight would accelerate the company’s digital innovation and enhance their global technology capabilities, driving greater value across Lamb Weston’s business operations.

Expressing his enthusiasm for the new role, Heselton stated his commitment to working with the Global Technology Services team and the wider organization. He aims to leverage technology to foster operational excellence, innovation, and sustainable growth for the company.

Lamb Weston has a 75-year history of leading the industry with its innovative frozen potato and sweet potato products, serving restaurants and retailers worldwide. The company prides itself on its inventive offerings that simplify kitchen management for their clients and enhance the dining experience for consumers. Despite recent market challenges, with the stock down nearly 36% over the past six months, InvestingPro data shows the company maintains a strong dividend track record, having raised payouts for eight consecutive years. Lamb Weston continually seeks to push the boundaries of what is possible, guided by their vision of seeing potential in every potato. For deeper insights into Lamb Weston’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.

This executive move is expected to further Lamb Weston’s commitment to technological advancement and market leadership in the food industry. The information for this article is based on a press release statement.

In other recent news, Lamb Weston Holdings Inc. has faced several developments impacting its financial outlook and market position. S&P Global Ratings revised its outlook on the company from stable to negative, citing increased competition and declining capacity utilization, which have pressured Lamb Weston’s profits and leverage. The company’s revenue is projected to decline by about 1% to $6.4 billion in fiscal 2025, with a significant contraction in EBITDA expected. Meanwhile, Raymond James and Bernstein have both lowered their price targets for the company, with Raymond James setting it at $75 and Bernstein at $62, though they maintained an Outperform and Market Perform rating, respectively. Stifel also adjusted its price target to $63 while maintaining a Hold rating, following a third-quarter earnings report that exceeded expectations with a 4% increase in North American organic sales. Lamb Weston is actively working with strategic advisors to enhance operational efficiency and has reaffirmed its fiscal year 2025 guidance. Despite challenges such as decreased restaurant traffic and increased international capacity, the company is making strategic moves, including a new production facility in China, to bolster its market presence. The firm is also exploring further cost savings opportunities with Alix Partners, aiming to improve its global supply chain productivity.

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