Food Dive reported the development on 2026-03-10. Starboard says the company needs to do more to “catch up” to its peers, such as Tyson and Hormel.
The report places the news in a wider commercial context. Activist investor Starboard Value is demanding Lamb Weston double its cost-cutting targets as it argues the frozen french fry maker is overly burdened by operating expenses compared to its peers.
For the food sector, the practical implications extend beyond the immediate announcement. The letter also asks Lamb Weston to consider selling certain businesses in Asia. The requests come after the company reached a separate agreement with Jana Partners last summer that gave the activist investor a larger presence on the board.
Attention now turns to how companies, customers and regulators respond. PepsiCo and J.M. Smucker are among companies who have announced deals with activist investors in the past six months. PepsiCo agreed to reduce product offerings and focus on affordability, while J.M. Smucker added two members to the board. In its letter to Lamb Weston, Starboard argues the company needs to do more to "catch up" to peers such as Tyson and Hormel.
Food Dive
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