Lifeway Foods (LWAY): Smolyansky Shareholders Push Director Replacements and Challenge Governance Amid Danone Fallout

The presentation argues that Lifeway’s largest shareholders, Edward and Ludmila Smolyansky (26% owners), are pushing for board change because the company’s long-standing governance failures, poor oversight, and CEO entrenchment have damaged value. They contend the Danone takeover saga revealed weak leadership, conflicted directors, excessive CEO compensation, and a board unwilling to act in shareholders’ interests. They say share-price gains occurred only when activists applied pressure—not due to management performance. The Smolyanskys seek to remove key incumbents, add two experienced nominees (Edward and George Sent), and establish a Strategic Performance Committee to restore accountability, improve profitability, and realign the board with shareholder interests.