Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 12, 2015 the Board of Directors (the “Board”) of Lifeway Foods, Inc. (the "Company") appointed Mariano Lozano as the new Stockholder Nominee (as defined in that certain Stockholders’ Agreement among the Company, Danone Foods, Inc. (“Danone”), Michael Smolyansky and the other stockholders listed on the signature pages thereto, dated October 1, 1999, as amended) named by DS Waters, LP (as the related successor to Danone) to fill the vacancy on the Board created by the resignation of Gustavo Carols Valle.
Mr. Lozano, 48, is an Argentine citizen and was appointed President and CEO of the Dannon Company, Inc., effective January 1, 2014. From March 2009 to December 2013, Mr. Lozano was General Manager of DANONE Brazil. Mr. Lozano started his career in various sales functions at Cerveceria y Malteria Quilmes, leader of the Argentinean beer market, and was then appointed Sales Director of Pilsbury Argentina. Mr. Lozano joined DANONE in March, 2000 as General Manager of Logistica La Serenisima S.A., in charge of sales and distribution for DANONE and La Serenisima products in Argentina. From 2004 to 2006 he was General Manager of DANONE Slovakia and from January 2006 to May 2009, General Manager of DANONE Clover (Pty) in South Africa. Mr. Lozano has been designated by DS Waters, LP (as the related successor to The Dannon Company, Inc.) to be its representative to the Board. Mr. Lozano holds an Industrial Engineer Diploma from the University of Buenos Aires, Argentina and brings deep industry experience.