Lifeway Foods' Second-Largest Shareholder Launches Proxy Fight to Reshape Board

MT Newswires Live11-27

Lifeway Foods (LWAY) shareholder Edward Smolyansky said Wednesday he filed a preliminary proxy statement with the US Securities and Exchange Commission seeking to overhaul the company's board.

Smolyansky is the second-largest Lifeway shareholder, according to FactSet data. He is urging investors to elect him and George Sent as two independent directors and to back a proposal to create a new independent board committee to review executive leadership, corporate strategy, and strategic alternatives.

The company has yet to name two new independent board members as previously promised or set a date for its 2025 annual meeting, Smolyansky said in a statement.

Lifeway did not immediately respond to a request for comment from MT Newswires.

Price: 24.44, Change: +0.32, Percent Change: +1.33

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