Business
Lifeway Foods Acknowledges ISS Recommendation to Reject Dissident Campaign
Lifeway Foods, Inc. (NASDAQ: LWAY), a leading U.S. supplier of kefir and fermented probiotic products, today announced that Institutional Shareholder Services Inc. (ISS), a leading independent proxy advisory firm, has recommended that shareholders "DO NOT VOTE" in connection with the ongoing dissident-led consent solicitation.
About this update from Lifeway Foods, Inc.
[{"type":"text","content":"MORTON GROVE, Ill., July 29, 2025 /PRNewswire/ -- Lifeway Foods, Inc. (NASDAQ: LWAY), a leading U.S. supplier of kefir and fermented probiotic products, today announced that Institutional Shareholder Services Inc. (ISS), a leading independent proxy advisory firm, has recommended that shareholders "DO NOT VOTE" in connection with the ongoing dissident-led consent solicitation.","length":388,"tagName":"p"},{"type":"image","alt":"Lifeway Foods (PRNewsfoto/Lifeway Foods, Inc.)","displaySize":"","headline":null,"caption":"Lifeway Foods (PRNewsfoto/Lifeway Foods, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":300,"url":"https://media.zenfs.com/en/prnewswire.com/e707b530f3bcbeef652d9c358643b6d9"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/AhwAlIMrOSIoxTQsDrr5og--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUyOTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/e707b530f3bcbeef652d9c358643b6d9","width":400,"height":300}},"href":"https://mma.prnewswire.com/media/1804095/Lifeway_1986_Logo_v1.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"In its report, ISS concluded that "the dissident has not presented a compelling case for change" and advised shareholders to "DO NOT VOTE" on all proposals put forth by Ludmila and Edward Smolyansky and their aligned group.","length":243,"tagName":"p"},{"type":"text","content":""We appreciate ISS's thorough review and are pleased that their recommendation supports our belief that this consent solicitation is unwarranted, disruptive and not in the best interest of Lifeway shareholders," said Julie Smolyansky, CEO and Chair of Lifeway Foods.","length":280,"tagName":"p"},{"type":"text","content":"The ISS analysis noted that:","length":28,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Lifeway's "financial performance has been directionally positive" and its "share price [has] rallied over the preceding year on multiple positive earnings announcements," with total shareholder return significantly outperforming peers in the Russell 3000 Food Producers Index.","length":300,"tagName":"p"}]},{"val":[{"type":"text","content":"The dissident group's critiques "are generally presented without adequate context," and the dissident group "does...