Business
Lifeway Foods Strengthens Board of Directors with Two New, Independent Director Nominees
MORTON GROVE, Ill., May 2, 2022 /PRNewswire/ -- Lifeway Foods, Inc. (Nasdaq: LWAY) ("Lifeway"), the leading U.S. supplier of kefir and fermented probiotic
About this update from Lifeway Foods, Inc.
[{"type":"text","content":"MORTON GROVE, Ill., May 2, 2022 /PRNewswire/ -- Lifeway Foods, Inc. (Nasdaq: LWAY) (\"Lifeway\"), the leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that it has filed preliminary proxy materials with the U.S. Securities and Exchange Commission (the \"SEC\") in connection with its upcoming 2022 Annual Meeting of Shareholders (the \"Annual Meeting\"). In connection with that filing, Lifeways' board of directors announced its slate of director nominees at the Annual Meeting. That slate includes the addition of two new, independent director nominees: Perfecto Sanchez and JC Dalto. Messrs. Sanchez and Dalto will join the Lifeway board if they are elected by shareholders at the Annual Meeting.\n\n \n \n \n \n \n \n\n \n\"We are thrilled to nominate Perfecto and JC to join the Lifeway board,\" said Julie Smolyansky, Lifeway CEO. \"They both bring deep industry, brand management and growth experience. As well-respected members of the consumer-packaged goods sector, their business insights are unrivaled and their contributions will provide significant value to the Lifeway brand. Their vision and energy to support the Lifeway mission to grow profitably, sustainably and consciously will assist us as we continue on our journey to deliver amazing products and long-term shareholder value.\"\nLifeway is committed to maintaining a board with the right mix of skills and experience. The planned additions of Messrs. Sanchez and Dalto continue the Lifeway board's ongoing refreshment efforts, which included the addition of Jody Levy and Dorri McWhorter as directors in 2020.\nMessrs. Sanchez and Dalto will join existing directors Jody Levy, Dorri McWhorter, Pol Sikar, Jason Scher and Julie Smolyansky as the Lifeway board's nominees at the Annual Meeting.\nLifeway continues to execute the Lifeway 2.0 strategy, which has already delivered significant results for shareholders, including eight consecutive quarters of year-over-year net sales increases. That growth is expected to continue with new product innovations such as Lifeway Oat, which has already received acceptance at many major retail partners. Additionally, velocity of Lifeway's core kefir SKUs accelerated as marketing campaigns have increased consumption of top-selling Lifeway Kefir flavors.\nAbout Director Nominees Perfecto Sanchez ...