Edward Smolyansky Denounces Firing at Lifeway Foods (NASDAQ: LWAY), Urges Board to Return Equity to Employees

Core Insights - The termination of Amy Feldman, a key executive at Lifeway Foods, is viewed as a significant misstep that undermines the company's strategic vision and employee morale [1][2][3] - Edward Smolyansky and Ludmila Smolyansky, who own approximately 28% of Lifeway's outstanding shares, are advocating for immediate changes in leadership and governance following Feldman's dismissal [1][3] Company Actions and Reactions - Lifeway Foods dismissed Amy Feldman on February 28, 2025, despite her pivotal role in developing the company's sales strategy, which has raised concerns among employees and shareholders [1][2] - The Board recently awarded CEO Julie Smolyansky a substantial cash bonus and stock options, which has sparked controversy, especially as it represents over 94% of the company's net income for 2024 [2][3] - The Smolyanskys have submitted a full slate of Board nominees for the 2025 Annual Meeting, emphasizing the need for leadership change and improved governance [3][4] Demands for Change - The Smolyanskys are calling for a transparent explanation regarding Feldman's termination and whether the Board was involved in the decision [5] - They demand the rescission of the recent share award to CEO Julie Smolyansky, proposing that the equity be redistributed to Lifeway's employees through an incentive plan [5] - There is a call for an end to the current corporate culture perceived as anti-shareholder and anti-employee, which is believed to be detrimental to Lifeway's foundational values [5] - The immediate release of Lifeway's preliminary Q1 2025 financial reports is requested to restore investor confidence and transparency [5]