11:05 AM EDT, 08/13/2024 (MT Newswires) -- Lifeway Foods ( LWAY ) shareholders Edward and Ludmila Smolyansky said Tuesday they have filed a consent statement with the US Securities and Exchange Commission to push for a leadership change in the company.

The son and mother tandem said Lifeway's current board of directors, including Chief Executive Julie Smolyansky, needs to be replaced with a new leadership that will work to revitalize the health food company.

Edward Smolyansky, former Lifeway chief operating officer, said the company missed market opportunities under the leadership of his sister Julie amid "a lack of strategic vision."

"It's time for a fresh approach to leadership that prioritizes growth and innovation over personal agendas," he said.

The company did not immediately reply to a request for comment from MT Newswires.

Shares of Lifeway were up 45% in recent trading.

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