CONAGRA BRANDS Business Summary

Conagra Brands Inc. (CAG) is a leading North American consumer packaged goods (CPG) company that generates revenue through the sale of branded and customized food products across retail and foodservice channels. The company operates through four primary business segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. Following a multi-year strategic transformation into a "pure-play" branded food entity, Conagra has optimized its portfolio by divesting non-core assets like Chef Boyardee and Van de Kamp's to focus on high-growth categories such as protein snacks and frozen meals. Its competitive landscape is defined by major industry peers including Kraft Heinz, General Mills, Campbell Soup Company, and Tyson Foods. Within this peer group, Conagra maintains a dominant market position in the single-serve meals category, commanding a 52.9% market share as of early 2026, and continues to leverage a robust innovation pipeline to offset inflationary pressures. Originally founded in 1919 as Nebraska Consolidated Mills by Alva Kinney and Frank Little, the company is currently led by President and CEO Sean Connolly, who joined in 2015 after serving as CEO of Hillshire Brands and Sara Lee North American Retail. The executive team includes EVP and CFO David Marberger, a veteran of Prestige Brands and Godiva, and EVP and COO Thomas McGough, who oversees the company’s primary operating segments. Other key leadership figures include Alexandre "Ale" Eboli (Chief Supply Chain & Transformation Officer) and Noelle O'Mara (President of Refrigerated & Frozen). The company’s Board of Directors is chaired by Richard Lenny, the former CEO of The Hershey Company, and includes high-profile independent directors such as Emanuel Chirico (former CEO of PVH Corp.) and Denise Paulonis (CEO of Sally Beauty Holdings), providing deep institutional expertise in consumer retail and global supply chain management.