Lamb Weston (LW) is a successful spinoff story. Since its spun out of Conagra Brands (CAG) in November 2016, the potato products company has outperformed the S&P 500 by more than 88%! The company’s President and CEO, Tom Werner is a superstar. Mr. Werner had served at Conagra for 17 years. He was instrumental in the Lamb Weston spin-off, established an executive leadership team and built all of the capabilities for a standalone organization.
Under his leadership, Lamb Weston has grown its global manufacturing footprint through organic expansions and strategic acquisitions, despite the pandemic and a bad potato crop in 2022. The company consistently beats estimates and often increases its forecasts.