Lamb Weston Holdings, Inc. announced on October 5, 2026, that it has entered into a transition and separation agreement with Marc Schroeder, the company's President of International. The agreement outlines the terms of Mr. Schroeder's resignation and the transition of his duties.
Under the agreement, Mr. Schroeder will remain in his role as President, International through December 31, 2026. Following this date, he will remain with the company in an advisory capacity until February 15, 2027. The terms of the agreement were approved by the company's Compensation and Human Capital Committee.
Marc Schroeder is required to sign a general release of claims regarding Lamb Weston and is subject to non-compete, non-solicitation, and confidentiality provisions. These restrictions will remain in effect for one year following his separation date. Regarding his equity awards, Mr. Schroeder will vest in a prorated portion of his fiscal 2025 and 2026 awards based on his service up to his separation date. He is also granted an extension until the third anniversary of his separation date to exercise his outstanding stock options. Payment of his performance shares is contingent upon the Compensation and Human Capital Committee's final performance certification at the end of the applicable performance cycle.
The agreement stipulates that Mr. Schroeder will remain eligible for an annual incentive award for the 2027 fiscal year, which will be prorated for the period from the start of fiscal year 2027 through his separation date. Notably, the filing states that Mr. Schroeder is not entitled to any cash severance payments in connection with his separation.
