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India

Lifeway Foods Inc (LWAY.OQ)

LWAY.OQ on NASDAQ Stock Exchange Global Market

4.03USD
14 Aug 2020
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$0.43 (+11.94%)
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Summary

Name Age Since Current Position

Ludmila Smolyansky

70 2002 Chairman of the Board

Julie Smolyansky

45 2020 President, Chief Executive Officer, Secretary, Director

Eric Hanson

46 2019 Chief Financial Officer, Chief Accounting Officer, Controller, Treasurer

Edward Smolyansky

40 2019 Chief Operating Officer, Director

Amy Feldman

44 2018 Senior Executive Vice President - Sales

Jason Scher

45 2019 Lead Independent Director

Dorri McWhorter

2020 Director

Renzo Bernardi

82 1994 Independent Director

Jody Levy

41 2020 Independent Director

Pol Sikar

72 1986 Independent Director

Biographies

Name Description

Ludmila Smolyansky

Mrs. Ludmila Smolyansky serves as Chairman of the Board of the Company. She appointed as a Director by the Board to fill a vacancy created by an increase of the maximum number of Directors up to seven and unanimously elected as the Chairperson of the Board in November 2002. Mrs. Smolyansky has been the operator of several independent delicatessen and gourmet food distributorship businesses, and imported food distributorships. Mrs. Smolyansky and Michael Smolyansky founded Lifeway and Mrs. Smolyansky served as our General Manager. In 2010, Mrs. Smolyansky retired as a Lifeway employee and has continued to serve Lifeway as its Chairperson of the Board since 2002 and as a consultant since 2011. Mrs. Smolyansky holds no other directorships in any other reporting company. Mrs. Smolyansky is the mother of Julie Smolyansky (the President, Chief Executive Officer, and a Director of the Company) and Edward Smolyansky (the Chief Operating Officer, Treasurer, Secretary, and a Director of the Company). Mrs. Smolyansky brings many years of food industry experience, historical perspective, and operational expertise to the Board.

Julie Smolyansky

Ms. Julie Smolyansky serves as President, Chief Executive Officer, Secretary, Director of the Company. She is a graduate with a bachelor’s degree from the University of Illinois at Chicago. Prior to her appointment, Ms. Smolyansky spent six years as Lifeway’s Director of Sales and Marketing. Ms. Smolyansky also served as Lifeway’s Chief Financial Officer and Treasurer from 2002 to 2004. She holds no other directorships in any other reporting company. Ms. Smolyansky is the daughter of Ludmila Smolyansky (the Chairperson of the Board), and brother of Edward Smolyansky (the Chief Operating Officer, Treasurer, Secretary, and a Director of the Company). The significant knowledge base and operational expertise she has acquired by serving the Company as a senior executive for over twenty years qualify her to continue to serve on the Board. Ms. Smolyansky’s family maintains a controlling interest in the Company, and the Board believes it is appropriate to provide for continuity of the representation of the Smolyansky family on the Board as a component of our succession planning strategy.

Eric Hanson

Mr. Eric A. Hanson serves as Chief Financial Officer, Chief Accounting Officer, Controller, Treasurer of the Company. Mr. Hanson has served as our Chief Accounting Officer since May 2018, and as our Corporate Controller since July 2016. He also served as our interim Chief Financial Officer from May 2018 through August 2018. Prior to joining Lifeway, he served as Director of External Reporting for CPG International LLC in Skokie, Illinois from October 2014 through July 2016; and as Audit Manager for Deloitte & Touche, LLP in Chicago, Illinois from November 2012 through September 2014. He also held various senior financial positions with Crowe Horwath from 2003 through 2012, and has over 20 years of financial reporting experience. Mr. Hanson holds a Bachelor of Science in Finance from the University of Illinois.

Edward Smolyansky

Mr. Edward P. Smolyansky serves as Chief Operating Officer, Director of the Company. Mr. Smolyansky was appointed as Chief Financial and Accounting Officer and Treasurer of Lifeway in November 2004 and appointed as the Chief Operating Officer and Secretary in 2012. He resigned his titles as Chief Financial Officer on January 1, 2016 and as Chief Accounting Officer on August 8, 2016. He also served as Lifeway’s Controller from June 2002 until 2004. He received his bacherlor’s degree in finance from Loyola University of Chicago in December 2001. He holds no other directorships in any other reporting company. Mr. Smolyansky is the brother of President and CEO Julie Smolyansky and the son of Lifeway’s Chairperson of the Board Ludmila Smolyansky. Mr. Smolyansky’s role, and knowledge acquired, serving the Company in a senior executive capacity since 2002 qualify him to continue to serve on the Board. Mr. Smolyansky’s family maintains a controlling interest in the Company, and the Board believes it is appropriate to provide for continuity of the representation of the Smolyansky family on the Board as a component of our succession planning strategy.

Amy Feldman

Ms. Amy M. Feldman serves as Senior Executive Vice President - Sales of the Company. Amy has spent over 20 years in the food industry building business, brands, and teams, specifically within the Fresh and Natural Foods arena. She brings a unique global view of the industry to Lifeway, which includes time spent on multiple sides of the business including working as a retailer, broker, distributor, and several high growth food brands selling across all channels of trade. Most recently from 2017-2018, Amy served as the Executive Vice President of Sales at Next Phase Enterprises, a club and mass channel food sales firm. From 2015 through 2017, Ms. Feldman was Vice President of Sales, Channel Development for Mondelez International's Enjoy Life Foods subsidiary where she was responsible for developing strategy and introducing the brand through various trade channels such as Foodservice, E-commerce, Small Format, and International. Prior to joining Enjoy Life, Amy was the Vice President of Sales, Independent Grocery Channel for Chicago-based KeHE Distributors from 2011-2015. Amy began her career at Sara Lee and holds a Bachelor in Business Administration in Food Marketing from Western Michigan University, an MBA from Golden Gate University, and a Culinary Certificate from Kendall College.

Jason Scher

Mr. Jason Scher serves as Lead Independent Director of the Company. Since 2016, he has been advising and consulting for several real estate development, hospitality, and consumer packaged goods companies in Chicago and California. From 2004 until 2016, Mr. Scher was the Chief Operating Officer of Vosges Haut-Chocolat, a leading manufacturer and seller of super premium chocolate confections in the U.S. Additionally, he is currently a Managing Member of South Shore Developers Group, a real estate development company focused on affordable housing in the Chicago area. From 2000 to 2004, Mr. Scher served as a principal in RP3 Development, a New York based construction management and development company that performed work nationwide. Mr. Scher started his career with XandO coffee bar/COSI Sandwich Bar in their real estate and construction group. His strong leadership has been instrumental in the growth and development of the businesses that he worked in over the years. Mr. Scher devotes as much time as necessary to Lifeway’s business and currently holds no other directorships in any other reporting company. Mr. Scher brings manufacturing, financial, and strategic experience to the Company’s board of directors.

Dorri McWhorter

Ms. Dorri McWhorter serves as Director of the Company. Ms. McWhorter is a CPA and, since 2013, the CEO of the YWCA Metropolitan Chicago, a social enterprise which includes an e-commerce platform, YShop.org and health platform, WomensHealthExchange.org. She is also an independent board member of William Blair Funds (since 2019), an independent director and the Audit Committee Chairperson of Skyway Concession Company (since 2018) and the 2020 Chairperson of the Board of Directors of the Illinois CPA Society. She was a partner at Crowe Horwath from 2008 to 2013 and head of internal audit at Snap-on Incorporated from 2006 to 2007. Ms. McWhorter holds a BBA in Accounting from University of Wisconsin – Madison and an MBA from Kellogg School of Management at Northwestern University.

Renzo Bernardi

Mr. Renzo Bernardi serves as Independent Director of the Company. Mr. Bernardi is the president and founder of Renzo & Sons, Inc., a dairy and food service company which has been in business since 1969 (formerly, Renzo-Milk Distribution Systems). He has nearly 50 years of experience in the dairy distribution industry. Mr. Bernardi is a graduate of Instituto Tecnico E Commerciale of Macomer, Sardinia. Mr. Bernardi devotes as much time as necessary to the business of the Company and currently holds no other directorships in any other reporting company. Mr. Bernardi brings deep industry experience and a historical perspective to the Board.

Jody Levy

Ms. Jody Levy serves as Independent Director of the Company. Ms. Levy is the founder, Creative Director and Chief ExecutiveOfficer of World Waters, LLC, the parent company of WTRMLN WTR and also a partner, advisor, and investor in brands including GEM&BOLTMezcal, Bulletproof, Thrive Market, Parsley Health, The WELL, Inscape, Pinata and more. Ms. Levy has a Bachelor of Arts from Schoolof the Art Institute of Chicago. Ms. Levy devotes as much time as necessary to Lifeway business and currently holds no other directorshipsin any other reporting company.

Pol Sikar

Mr. Pol Sikar serves as Independent Director of the Company. He holds a master’s degree from the Odessa State Institute of Civil Engineering in Russia. For more than 40 years, he has been President and a major shareholder of Montrose Glass & Mirror Co., a company providing glass and mirror products to the wholesale and retail trade in the greater Chicago area. Mr. Sikar devotes as much time as necessary to the business of the Company and currently holds no other directorships in any other reporting company. Mr. Sikar brings a historical perspective to the Board along with executive and entrepreneurial experiences that provide Lifeway with insights into operational and strategic planning, and financial matters.

Basic Compensation