Michael Smolyansky, president and chief executive officer of Lifeway Foods, has died following a heart attack.

Smolyansky died on Sunday, Steve Simon, a spokesman for the Morton Grove, Illinois-based company said. Smolyansky#;s daughter Julie Smolyanksy will assume the role of president, said Simon.

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Nasdaq trading in stock in Lifeway was halted yesterday [Monday] after falling 27% or US$1.90 to US$5.10 on the news.

Lifeway Foods is the maker of a yoghurt-like beverage known as Kefir.

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