Lifeway Foods shareholders denouncing firing of Amy Feldman

Edward Smolyansky, who, together with Ludmila Smolyansky, beneficially owns 4,163,141 shares of common stock in Lifeway Foods (LWAY), issued a statement in response to the recent dismissal of Amy Feldman, Senior Executive Vice President of Sales at Lifeway and key architect of the company’s renewed vision and revitalized strategy, known internally as “Lifeway 2.0.” Lifeway Foods abruptly eliminated Feldman’s senior leadership position on February 28, 2025, despite Feldman being widely credited for developing Lifeway’s modern sales and growth strategy. Feldman was one of only three officers of the company at the time of her termination. Her removal sends a chilling signal to employees and shareholders alike, Smolyansky said. “Terminating Amy Feldman at this critical time is not just poor judgment – it’s a direct blow to the teams she led and the vision she helped build,” said Edward Smolyansky. “This is a textbook example of retaliation and consolidation of power under a leadership team that continues to disregard the talent and effort behind Lifeway’s success.” The firing comes just weeks after the Board awarded CEO Julie Smolyansky a $2 million cash bonus and 283,337 shares of stock, with a grant date value of approximately $6.5 million, an award equaling over 94% of the company’s 2024 net income. Those shares were issued without securing required consent from Danone North America, Lifeway’s largest outside investor, and have become the subject of ongoing litigation “We’ve now seen Lifeway remove the largest outside investor from the table, strip the company of its most effective sales leader, and reward insiders with millions – all while the company’s revenue growth and morale continue to decline,” said Edward Smolyansky. “This is not leadership. This is self-preservation masquerading as management.” Edward and Ludmila Smolyansky recently submitted a full slate of Board nominees for election at the 2025 Annual Meeting and continue to advocate for meaningful leadership change. Their preliminary proxy statement, filed with the Securities and Exchange Commission on March 28, 2025, outlines their case for new leadership, improved governance, and a renewed focus on long-term shareholder and employee value, they said.