Business
After Reporting Record Full Year 2024 Earnings and 22nd Consecutive Quarter of Growth, Lifeway Foods Issues Statement on Edward Smolyansky's Director Nomination Notice
Lifeway Foods, Inc. (NASDAQ: LWAY) ("Lifeway" or the "Company"), a leading U.S. supplier of Kefir and fermented probiotic products to support the microbiome, which recently reported record full-year earnings for 2024 and delivered its 22nd consecutive quarter of growth, has issued the following statement regarding Edward Smolyansky's nomination notice with respect to seven candidates to replace the Company's entire Board of Directors at the Company's 2025 annual meeting of shareholders:
About this update from Lifeway Foods, Inc.
[{"type":"text","content":"Lifeway notes that Edward Smolyansky was previously terminated for cause as an officer of the company","length":101,"tagName":"p","attribs":{}},{"type":"text","content":"MORTON GROVE, Ill., March 24, 2025 /PRNewswire/ -- Lifeway Foods, Inc. (NASDAQ: LWAY) ("Lifeway" or the "Company"), a leading U.S. supplier of Kefir and fermented probiotic products to support the microbiome, which recently reported record full-year earnings for 2024 and delivered its 22nd consecutive quarter of growth, has issued the following statement regarding Edward Smolyansky's nomination notice with respect to seven candidates to replace the Company's entire Board of Directors at the Company's 2025 annual meeting of shareholders:","length":579,"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":""Lifeway maintains a consistent dialogue with its shareholders and welcomes constructive input on creating shareholder value. Lifeway's Audit and Corporate Governance Committee will review Mr. Smolyansky's nominees, and the Board will make a recommendation in due course. Lifeway's leadership and Board are proud of the incredible growth the brand has achieved, and Lifeway notes that Mr. Smolyansky was terminated for cause as an officer of the Company.","length":471,"tagName":"p"},{"type":"text","content":""Our primary focus is on Lifeway's opportunities and momentum. Following our recently reported record 2024 fiscal year revenue, we believe our business will continue to grow, as consumers focus on the importance of a healthy microbiome and the gut-brain connection. We look forward to providing updates as we continue to execute on behalf of all share...