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CAG

Why Conagra Stock Flopped Today

April 13, 2026 — 06:37 pm EDT

Written by

Eric Volkman for

The Motley Fool->

Key Points

- The new CEO is a veteran food industry executive.

- The change in leadership heightens the business's recent struggles, however.

- 10 stocks we like better than Conagra Brands ›

Rather unexpectedly, the leadership at the top of Conagra (NYSE: CAG) has changed. The veteran food company announced it had appointed a new CEO, replacing a man who had held the position for 11 years. Such a move reminded many investors that the company has been struggling and might be in for more pain, so they collectively traded out of the stock to leave it with a 4% slide on the day.

New boss incoming

Before market open that morning, Conagra announced in a press release that it was replacing Sean Connolly as CEO with John Brase. The appointment will become effective on June 1. Connolly will vacate both his CEO role and his seat on the company's board of directors; Brase is to replace him as a board member, too.

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Image source: Getty Images.

The outgoing leader joined Conagra in March 2015.

Brase is a seasoned food industry veteran, most recently serving as COO of another storied conglomerate in the sector, J.M. Smucker for over six years. Prior to that, he had a 25-year stint at Procter & Gamble, where he rose to become the general manager of the sprawling company's North America family care business.

Time for a change

Investors tend to feel a little nervous whenever a CEO is replaced without much or any warning. This applies in Conagra's case, despite language in the press release about its "thoughtful approach to succession planning."

I'd look at this development positively. To me, it shows the company recognizes it needs, at a minimum, a shake-up in the executive ranks and probably a new strategic approach. Its performance hasn't been impressive, and its portfolio, stuffed as it is with packaged foods largely out of fashion with today's more health-conscious shoppers, doesn't inspire confidence.

Ultimately, I think, this is a wait-and-see situation with Conagra stock. I'd keep an eye on any change in strategy from Brase and his team

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends J.M. Smucker. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.