Independence
“We believe there is lack of independence as outlined in our Cook County lawsuit. Lead Director Scher has enabled the unethical actions and toxic behavior of Julie and Jason Burdeen to the detriment of Lifeway's employees and shareholders..."
Current Board of Directors
Jason Scher
Lead Independent Director, ACG Chair, Compensation Committee Chair
On April 28, 2022, Mr. Scher, a director, entered into a Restricted Stock Unit Award Agreement and converted the value of all cash and restricted stock compensation that would have been paid to him in fiscal year 2021, or $227,500, into Restricted Stock Units on the terms set forth in the Restricted Stock Unit Award Agreement, which may be settled in cash or, if approved by the Company’s stockholders, common stock. The Company’s stockholders approved the issuance of common stock as settlement of the Restricted Stock Units at the Company’s annual meeting held on August 31, 2022.
Mr Scher has not been paid in cash for his services since prior to 2021. All of his compensation beginning in 2021, has been deferred to equity, contingent upon his continuing employment at Lifeway Foods.
Curated Chicago magazine article about Julie Smolyansky: "Defiance and the Power...."
Read more about Scher and Julie’s deep emotional and spiritual connection….
Juan Carlos Dalton
JC DALTO was elected as a Director of the Company in August 2022. In 2000, Mr. Dalto became the CEO of Danone in Portugal, in 2002 the President and CEO of Danone in Italy, and in 2004 the Chairman, President and CEO of Danone North America – The Dannon Company, Inc. From 2012 to 2015, Mr. Dalto served as Chief Executive Officer of JDE Brazil (formerly, D.E. Master Blenders 1753). From 2017 to 2020, Mr. Dalto served as Chief Executive Officer of Savencia Fromage & Dairy Latin America. Mr. Dalto served as the President of Dole Sunshine Company – Dole Packaged Foods LLC, Americas from January 2021 through September 2022. From October 2022 through present Mr. Dalto has served as the Chief Executive Officer of Savencia Fromage & Dairy, Americas. Mr. Dalto serves on the boards of directors of Milkaut S.A.,
Jody Levy
Independent Director, ACG
In 2013, Ms. Levy founded World Waters, LLC, the parent company of WTRMLN WTR and served as its Creative Director and Chief Executive Officer from founding until the company’s sale in 2020. Ms. Levy is currently the chief executive officer and a director of Summit Group Endeavors LLC (since January 2021) and Summit Series LLC (since September 2020), related companies that produce annual ideas conference for the thought leaders of our time. Ms. Levy has a Bachelor of Arts from School of the Art Institute of Chicago, her and Mr. Jason Burdeen attended art school together in fact.
Dorri McWhorter
Independent Director, ACG
Ms. McWhorter serves on the boards of directors of William Blair Funds and Skyway Concession Company (Chicago Skyway), NexPoint Capital, and LanzaTech Global Inc. (NASDAQ: LNZA). She is also active in the accounting profession and serves on the Financial Accounting Standards Advisory Council and having served as a member of the Board of Directors of the American Institute of Certified Public Accountants (AICPA) and a past Chairperson of the Board of Directors for the Illinois CPA Society. Ms. McWhorter also serves as Co-Chair of the Advisory Board of the First Women’s Bank.
Last spring, Kanen Wealth Management (KWM) became the fourth largest stockholder in Lifeway and launched an activist campaign on June 8, 2023, issuing a scathing letter critical of Julie and her Board. Lifeways' share price again rallied 15% on the news.
Director Dorri McWhorter testified to under oath in December 2023 she had previously never seen that letter or was aware of the campaigns existence."
Source: global news wire.com
Pol Sikar
Independent Director, ACG
Director Sikar has been on the Board since it went public in 1986 or so. He was a long standing close family friend to Lifeways Founding Family, particularly Michael and Ludmila Smolyansky…. He and his wife attended Edwards Wedding in 2015. Julie and Jason Burdeen have maintained a close family relationship to the present day.
MORE TO COME….
Perfecto Sánchez
Independent Director, ACG
MORE INFO COMING…
Jason Burdeen
CEO’s Chief of Staff
Compensation From Lifeway’s Proxy Statements:
Jason Burdeen, Ms. J. Smolyansky’s spouse, does not have an employment agreement. In 2021, 2022, and 2023 Mr. Burdeen’s total compensation was $132,000, $173,142, and $242,031, respectively. The Compensation Committee is responsible for determining and approving Mr. Burdeen’s compensation annually.