Lifeway Foods signs Cooperation Agreement with Danone; adds independent directors, stays litigation

Lifeway Foods, Inc.

3 new independent directors appointed by Oct 30, 2025; 4th by Nov 14, 2025; Pol Sikar to step down at 2025 annual meeting.
Jay Scher and another current director to step down at 2026 annual meeting; Board to separate Chair and CEO roles.
Danone waives board representation and rights of first refusal; litigation over Stockholders' Agreement stayed.
Danone agrees not to support Smolyansky family consent solicitation and will vote with Board on director elections at 2025/2026 meetings.
Lifeway to file shelf registration statement by Oct 30, 2025 for Danone's shares; evaluating capital allocation alternatives.

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