May 25, 2021

Lamb Weston CFO to retire, successor named

Lamb Weston Holdings has announced that Robert McNutt has shared his intent to retire from his position as senior vice president and chief financial officer, effective Aug. 6, 2021.

On that date, current vice president and controller Bernadette Madarieta will succeed McNutt as senior VP and CFO. She will report to president and CEO Tom Werner.

“I want to thank Rob for his leadership and his many contributions to Lamb Weston as we have developed into a strong independent company. He has played an important role helping the Company navigate the challenges of operating during the COVID-19 pandemic while building a strong finance team with deep expertise,” Werner said through a press release. “On behalf of the Board of Directors and all Lamb Weston employees, I want to wish Rob all the best as he enters the next chapter of his life.”

“I am proud of what we have built at Lamb Weston over the past several years,” said McNutt. “I believe the company is well-positioned to take advantage of opportunities in the global category as frozen potato demand improves. Bernadette has been a key senior member of our finance team, and I am confident in her experience and strong leadership capabilities.”

Bernadette Madarieta, Lamb Weston

“It gives me great confidence to know that Bernadette is stepping into this role,” said Werner. “Not only does she have a deep understanding of the Lamb Weston business, she is also highly respected by her colleagues across the organization. I look forward to working closely with Bernadette in her new role to drive value for all of our stakeholders.”

Madarieta has served as Lamb Weston’s vice president and controller and Principal Accounting Officer since November 2016, when the company was spun off from Conagra. She has more than 20 years of experience leading finance teams for publicly traded companies.

Prior to joining Lamb Weston, Madarieta served as vice president and controller of Packaging Corporation of America, a containerboard and corrugated packaging manufacturer, and vice president and controller at Boise Inc., a packaging and paper products manufacturer.

Lamb Weston Holdings is based in Eagle, Idaho.




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