Lifeway appoints two directors, attacks dissident nominees as unfit; annual meeting moved to Dec 29

Lifeway Foods, Inc.

Appointed Kirk Chartier and Susie Hultquist as directors effective Nov 26, 2025; annual meeting rescheduled from Dec 16 to Dec 29.
Company says Edward Smolyansky was terminated for cause as COO, intoxicated on duty, defaulted on $10.4M mortgage; Ludmila Smolyansky faces $2.3M tax liens.
George Sent, former lead independent director, now aligns with dissident despite prior ISS recommendation against dissident nominees.
Company highlights strong performance: 788% TSR over 5 years, 123% revenue growth since FY2019, record Q3 2025 net sales $57.1M (+29%).
Board refreshment: four new independent directors appointed in Oct-Nov 2025 per cooperation agreement with Danone.

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