Conagra Appoints John Brase as CEO After 60% Stock Slide
Conagra Brands will replace CEO Sean Connolly with John Brase on June 1 after shares plunged 60% during Connolly’s 11-year tenure and have dropped 12% this year. Brase brings 30 years at Procter & Gamble and JM Smucker, where he oversaw retail coffee, frozen handhelds and pet food businesses.
1. Leadership Transition
Sean Connolly, who led Conagra for 11 years, will step down as CEO and board member on May 31. John Brase will assume the roles of president and CEO on June 1, marking a strategic leadership shift.
2. Incoming CEO Background
John Brase spent nearly 30 years at Procter & Gamble before joining JM Smucker in 2020 as president and COO. At Smucker he managed retail coffee, the Uncrustables frozen handhelds line and pet food divisions before departing in February.
3. Stock Performance Under Connolly
Conagra’s stock has fallen 60% over Connolly’s tenure and is down 12% so far in 2026. The decline reflects struggles in core frozen foods and snacks categories amid changing consumer preferences.
4. Industry Challenges and Strategy
Consumers are shifting toward fresher, less-processed options while remaining price-sensitive after years of inflation. Conagra has lowered select frozen food and snack prices to boost volume, and its existing financial guidance remains unchanged.