1059 ET - Lamb Weston is delivering on its promise of significant operational and cultural change, Executive Chair Jan Craps says on a call with analysts. The french-fry maker has changed half of its executive leadership team, as well as reduced the size of its board to 11 members, from 13, Craps says. "We implemented target setting and compensation changes that drive individual and regional accountability, and we just announced an organizational redesign to drive significant improvements in speed of decision-making, simplicity and accountability," Craps says. Lamb Weston is also working to drive additional cost savings, as the company continues to experience unexpected inflationary pressures across key input costs and freight expenses. The company is seeing early signs of progress, Craps says, pointing to higher-than-expected adjusted earnings and sales in F1Q. Lamb Weston surges 11%.