Edward Smolyansky files proxy statement in connection with Lifeway Foods meeting

Edward Smolyansky announced that he has filed a Preliminary Proxy Statement with the U.S. Securities and Exchange Commission in connection with the upcoming 2025 Annual Meeting of Shareholders of Lifeway Foods (LWAY). Smolyansky said, “The filing continues the effort toward comprehensive board change to finally end the long-running governance failures, value destruction, and entrenched leadership practices that have plagued the Company at the expense of its shareholders. The action seeks to replace those legacy directors most responsible for the prior board’s lack of accountability and deference to management, thereby paving a clear path for a new independent Board toward long-term value creation for the Company. The proxy statement seeks support for two highly qualified director nominees – George Sent and Edward Smolyansky – as well as a non-binding shareholder proposal requesting the formation of a new Board committee composed exclusively of independent directors appointed or elected after September 30, 2025. According to the filing, this committee would be tasked with conducting reviews of Lifeway’s executive leadership, strategic plan, and strategic alternatives. Mr. Smolyansky believes the December 2025 Annual Meeting is a pivotal moment for Lifeway’s long-term viability. Shareholders are presented with a clear choice: partial entrenchment or the establishment of a new, truly independent board accountable for meaningful oversight and implementing credible governance practices. Mr. Smolyansky highlights the Board’s continued dysfunction and reluctance to serve shareholders effectively by pointing out that as of this press release, the Company has yet to disclose the completion of its previously announced commitment to appoint two new Independent Board Members, or to disclose a definitive meeting date for the upcoming 2025 Annual Meeting.”