A Family Feud Leaves the Future of This Kefir King in Doubt—Barron’s
July 31, 2025
Lifeway Foods is in turmoil as a family feud collides with a takeover bid from French dairy giant Danone, Barron’s reports. Founded in the 1980s, the company has been rocked by years of legal disputes among family members. Danone, a 23% shareholder, has made multiple acquisition offers and is now in talks with Lifeway under a mid-September deadline—while signaling it may back an activist push to replace the board if no deal is reached.
The governance and pay controversies at the heart of this fight highlight the complex dynamics of family-led public companies. “Retention bonuses aren’t standard practice—they’re typically used to address a specific risk, such as when there’s no succession plan in place,” said R.J. Bannister, partner at Farient Advisors. He noted that in contested situations like Lifeway’s, boards must balance shareholder value, leadership stability, and long-term strategic vision, often under intense public scrutiny.
About R.J. Bannister
Partner, COO, Farient Advisors/GECN Group, New York
New York: (646) 626-6929
Mobile: (917) 747-3985
rj.bannister@farient.com
R.J. has 30-plus years of experience consulting to the S&P 1500 and large private companies representing the board’s compensation committee or management, and sometimes both parties. R.J. has worked with hundreds of companies on their total rewards strategy and executive compensation philosophy to align pay programs with business strategy. His ability to create alignment results from deep insights on industry and compensation trends; sophisticated financial, market, and compensation analytics; and impactful, easy-to-implement solutions. He has worked in nearly every industry sector and extensively with private equity companies. Before joining Farient, R.J. was the founder and CEO of Bannister Group LLC, an executive compensation and total rewards consultancy he founded in 2019 after retiring as a managing director from Willis Towers Watson. R.J. holds an MSc in economics from the London School of Economics and a BS in economics from the University of Pennsylvania’s Wharton School with a triple concentration in corporate finance, strategic management, and international political science.
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