Lifeway to shakeup board after Danone cooperation deal
News Source : just-drinks.com
News Summary
- US kefir maker and French dairy giant have also agreed to “stay” the litigation between the two companies.
- Deal will see Lifeway “refresh” its board by appointing four new directors.
- By the end of the month, the company will also separate the roles of chair and CEO, which have been held by Ms. Smolyansky.
- Danone has agreed to waive certain rights, including its right to appoint a member of the Lifeway board.
- Just Drinks has asked Danone for comment.
Lifeway Foods can move forward with clarity and stability, the kefir makers CEO has said, after the company struck a cooperation deal with minority shareholder Danone.The relationship between Life [+3736 chars]
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