Lifeway Foods(US:LWAY) Prnewswire·2025-11-26 15:00Core Viewpoint - The upcoming 2025 Annual Meeting of Shareholders for Lifeway Foods, Inc. is a critical juncture for the company, with a focus on replacing entrenched board members to enhance governance and shareholder value [3][4]. Group 1: Proxy Statement and Board Changes - Edward Smolyansky has filed a Preliminary Proxy Statement with the SEC to facilitate a comprehensive board change aimed at addressing governance failures and value destruction at Lifeway Foods [1]. - The proxy statement seeks to replace legacy directors responsible for the previous board's lack of accountability and proposes two director nominees, George Sent and Edward Smolyansky, along with a non-binding proposal for a new independent Board committee [2][6]. - The proposed committee would review Lifeway's executive leadership, strategic plan, and alternatives, emphasizing the need for independent oversight [2]. Group 2: Shareholder Engagement and Governance Issues - Smolyansky emphasizes the need for an independent and accountable board, criticizing the current board's dysfunction and failure to serve shareholders effectively [3][4]. - The company has not yet disclosed the appointment of two new Independent Board Members or a definitive date for the 2025 Annual Meeting, raising concerns about governance practices [3]. - Smolyansky urges shareholders to vote for the GREEN Universal Proxy Card to support meaningful change and restore confidence in the company's governance [4].