A onetime CEO of Budweiser Brewing Co. will co-lead Lamb Weston Holdings Inc., the french fry giant based in Eagle.

Jan Eli B. Craps, 48, was appointed executive chair effective Feb. 6.

In the newly created role, he will work alongside Mike Smith, president, CEO and board member, to drive growth for the Idaho company, which has struggled with revenue and falling share prices in recent years.

Craps spent more than 20 years with Anheuser-Busch InBev, holding a variety of executive roles, including president of its Budweiser Brewing subsidiary before he left in April 2025.

“Jan has shaped emerging and complex markets globally, managed strategic integrations and transformations, and has led and grown multibillion consumer businesses across Europe, Canada, Australia and Asia,” Lamb Weston said in a statement announcing a series of changes in the C-suite.

Lamb Weston is the largest producer of french fries in North America and is a major supplier to restaurants, grocery stores and fast-food chains, including McDonald’s. It employs over 1,000 people in Idaho, according to the Idaho Department of Labor.

Its headquarters are near the intersection of Eagle Road and State Street in Eagle. The company has two plants in Idaho, in Twin Falls and American Falls, that are supplied by the region’s potato farmers.

The company is a significant player in Washington’s $1 billion potato industry. It employs about 3,000 people in the Mid-Columbia region, where it operates corporate offices, research facilities and more than a dozen processing factories 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 it closed one of its oldest processing plants, in Connell, Washington, to save money. The move that affected nearly 400 employees.

Price cuts and declines in fast-food restaurant traffic and continue to affect profits, says Simply Wall Street, an investment analysis firm. But Lamb Wesston says it has made progress lately, reopening some plants and increasing sales. “Business turnarounds are not linear, but we are pleased,” 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 reaffirmed its fiscal 2026 target of $6.35 billion to $6.55 billion. It is No. 551 on the Fortune 1000 list of the top U.S. public and private companies based on revenue.

The company’s stock reached a 52-week low just under $40 on Jan. 7, rising since to close Friday at just under $50. The 52-week high is $67.07.

The Idaho Statesman contributed.

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