Lamb Weston Shares Surge: Shareholders Back Board Overhaul!

Lamb Weston Holdings, Inc. rose 1.18% in intraday trading, following the announcement by JANA Partners that it had sent a letter to the company's shareholders. The letter reported overwhelming support from more than 80% of shareholders for a significant change in the company's board of directors. This change is deemed necessary due to the board's failure to adequately oversee operations, capital allocation, management, CEO succession, and executive compensation, which has resulted in the destruction of billions of dollars in shareholder value and eroded investor confidence.