Barington Capital Calls on Matthews International Shareholders to Elect Ana Amicarella, Chan Galbato and James Mitarotonda to the Matthews Board to Help Restore Good Governance and Drive Value Creation
Barington Capital, owning 2.2% of Matthews International (NASDAQ: MATW), has urged shareholders to elect three new directors - Ana Amicarella, Chan Galbato, and James Mitarotonda - to the company's board at the 2025 Annual Meeting. The activist investor criticizes Matthews' governance and claims recent corporate changes, including governance improvements and the sale of SGK Brand Solutions division, are merely reactive measures to Barington's influence.
Barington's Chairman, James Mitarotonda, argues these actions demonstrate desperation rather than genuine commitment to long-term value creation. The firm believes its nominees, with their proven board effectiveness and relevant skills, can better serve shareholder interests and help maximize long-term value.
Barington Capital, che possiede il 2,2% di Matthews International (NASDAQ: MATW), ha esortato gli azionisti a eleggere tre nuovi direttori - Ana Amicarella, Chan Galbato e James Mitarotonda - nel consiglio di amministrazione dell'azienda durante l'Assemblea Annuale del 2025. L'investitore attivista critica la governance di Matthews e sostiene che i recenti cambiamenti aziendali, inclusi i miglioramenti nella governance e la vendita della divisione SGK Brand Solutions, siano semplicemente misure reattive all'influenza di Barington.
Il presidente di Barington, James Mitarotonda, afferma che queste azioni dimostrano disperazione piuttosto che un vero impegno per la creazione di valore a lungo termine. La società crede che i suoi candidati, con la loro comprovata efficacia nel consiglio e competenze rilevanti, possano servire meglio gli interessi degli azionisti e contribuire a massimizzare il valore a lungo termine.
Barington Capital, que posee el 2.2% de Matthews International (NASDAQ: MATW), ha instado a los accionistas a elegir a tres nuevos directores - Ana Amicarella, Chan Galbato y James Mitarotonda - para la junta de la empresa en la Reunión Anual de 2025. El inversor activista critica la gobernanza de Matthews y afirma que los recientes cambios corporativos, incluidos los avances en gobernanza y la venta de la división SGK Brand Solutions, son simplemente medidas reactivas a la influencia de Barington.
El presidente de Barington, James Mitarotonda, argumenta que estas acciones demuestran desesperación en lugar de un compromiso genuino con la creación de valor a largo plazo. La firma cree que sus candidatos, con su probada efectividad en la junta y habilidades relevantes, pueden servir mejor a los intereses de los accionistas y ayudar a maximizar el valor a largo plazo.
베어링턴 캐피탈은 매튜스 인터내셔널(NASDAQ: MATW)의 2.2%를 소유하고 있으며, 주주들에게 2025년 연례 회의에서 이사회에 새로운 이사 세 명 - 아나 아미카렐라, 찬 갈바토, 제임스 미타로돈다 - 를 선출할 것을 촉구했습니다. 이 행동주의 투자자는 매튜스의 거버넌스를 비판하며, 최근의 기업 변화, 거버넌스 개선 및 SGK 브랜드 솔루션 부서의 매각을 포함한 변화는 베어링턴의 영향에 대한 반응적 조치에 불과하다고 주장합니다.
베어링턴의 회장인 제임스 미타로돈다는 이러한 조치가 진정한 장기 가치 창출에 대한 헌신이 아닌 절박함을 나타낸다고 주장합니다. 이 회사는 그들의 검증된 이사회 효과성과 관련된 기술을 가진 후보자들이 주주 이익을 더 잘 대변하고 장기 가치를 극대화하는 데 도움을 줄 수 있다고 믿고 있습니다.
Barington Capital, détenant 2,2 % de Matthews International (NASDAQ: MATW), a exhorté les actionnaires à élire trois nouveaux administrateurs - Ana Amicarella, Chan Galbato et James Mitarotonda - au conseil d'administration de l'entreprise lors de l'Assemblée Annuelle de 2025. L'investisseur activiste critique la gouvernance de Matthews et affirme que les récents changements au sein de l'entreprise, y compris les améliorations de la gouvernance et la vente de la division SGK Brand Solutions, ne sont que des mesures réactives à l'influence de Barington.
Le président de Barington, James Mitarotonda, soutient que ces actions témoignent de désespoir plutôt que d'un véritable engagement envers la création de valeur à long terme. La société estime que ses candidats, avec leur efficacité avérée au sein du conseil et leurs compétences pertinentes, peuvent mieux servir les intérêts des actionnaires et contribuer à maximiser la valeur à long terme.
Barington Capital, das 2,2% von Matthews International (NASDAQ: MATW) besitzt, hat die Aktionäre aufgefordert, drei neue Direktoren - Ana Amicarella, Chan Galbato und James Mitarotonda - in den Vorstand des Unternehmens bei der Jahresversammlung 2025 zu wählen. Der aktivistische Investor kritisiert die Unternehmensführung von Matthews und behauptet, dass die jüngsten Veränderungen, einschließlich Verbesserungen in der Unternehmensführung und dem Verkauf der SGK Brand Solutions-Sparte, lediglich reaktive Maßnahmen im Hinblick auf den Einfluss von Barington sind.
Der Vorsitzende von Barington, James Mitarotonda, argumentiert, dass diese Maßnahmen Verzweiflung und nicht echtes Engagement für die Schaffung von langfristigem Wert zeigen. Das Unternehmen ist der Ansicht, dass seine Kandidaten mit ihrer erwiesenen Effektivität im Vorstand und relevanten Fähigkeiten besser im Interesse der Aktionäre agieren und zur Maximierung des langfristigen Wertes beitragen können.
- Successfully pressured company to implement corporate governance improvements
- Catalyzed the sale of SGK Brand Solutions division
- Concerns about poor corporate governance and board culture
- Activist investor criticism indicating potential management issues
- Questions about board's commitment to shareholder value
Insights
Barington Capital's activist campaign against Matthews International represents a pivotal moment in corporate governance that could significantly reshape the company's future. The timing and nature of Matthews' recent announcements - including governance improvements and the SGK Brand Solutions division sale - strongly suggest these were reactive measures to Barington's pressure rather than proactive strategic decisions.
The proposed board nominees bring substantial credentials: Ana Amicarella has extensive operational experience, Chan Galbato brings significant turnaround expertise, and James Mitarotonda has a proven track record in activist investing and corporate governance improvements. Their collective experience in operational efficiency and strategic repositioning could be particularly valuable given Matthews' recent underperformance.
The planned divestiture of the SGK Brand Solutions division is especially noteworthy, as it signals a potential shift toward portfolio optimization and operational focus. This strategic move could streamline operations and improve capital allocation, addressing key concerns about the company's historical performance.
However, the reactive nature of Matthews' recent actions raises legitimate questions about the board's proactive governance capabilities. The timing of these announcements, just before the annual meeting, suggests they may be tactical rather than strategic decisions. This pattern often indicates deeper governance issues that typically require more fundamental board-level changes to address effectively.
The outcome of this proxy contest could have significant implications for Matthews' future corporate governance structure and strategic direction. A successful campaign by Barington could lead to more aggressive portfolio optimization, improved capital allocation, and enhanced shareholder returns through better oversight and strategic planning.
Sends Letter to Matthews' Shareholders Highlighting the Company's Poor Governance, Deeply Troubling Board Culture and Desperate, Last-Ditch Effort to Placate Shareholders Ahead of 2025 Annual Meeting
Believes Matthews' Proposed Governance Improvements and Sale of SGK Brand Solutions Division Are a Direct Response to Barington's Positive Influence and that Shareholders Remain at Risk Without Barington's Nominees on the Board
Urges Matthews Shareholders to Vote "FOR" the Election of ALL of Barington Capital's Highly Qualified Nominees Whose Proven Board Effectiveness, Relevant Skills and Backgrounds, and Fierce Commitment to Shareholders Will Benefit ALL Matthews Shareholders
The full letter is available at https://barington.com/matthews
James Mitarotonda, Chairman and CEO of Barington Capital, said, "In these critical final days leading up to Matthews' 2025 Annual Meeting of Shareholders, it is clear to us that Matthews is only taking action – including its recently announced corporate governance improvements and sale of the SGK Brand Solutions division – out of desperation rather than a genuine commitment to long-term value creation. Indeed, we are convinced that these changes are a direct result of Barington's positive influence, a last-minute attempt to placate shareholders without addressing the deep systemic issues plaguing the Company, and underscore why shareholders remain at risk without Barington's nominees on the Board.
"We believe that shareholders of Matthews, both large and small, deserve truly independent directors who will serve as fierce advocates for them and ensure that governance and operational decisions are made with their best interests in mind. Barington has already driven meaningful change from outside the boardroom in just a few months. Imagine how much more our three highly qualified nominees could accomplish with a seat at the table. We therefore strongly urge Matthews shareholders to vote "FOR" the election of ALL of Barington's nominees, whose proven board effectiveness, relevant skills and backgrounds, and shareholder-focused mindset will help to improve the Company's governance, reestablish its credibility in the marketplace and maximize long-term shareholder value."
TIME IS RUNNING OUT: PROTECT THE VALUE OF YOUR INVESTMENT AND VOTE "FOR" ALL OF BARINGTON'S NOMINEES TODAY
For additional information regarding Barington's campaign at Matthews, visit: https://barington.com/matthews
ABOUT BARINGTON CAPITAL GROUP, L.P.
Barington Capital Group, L.P. is a fundamental, value-oriented activist investment firm established by James Mitarotonda in January 2000. Barington invests in undervalued publicly traded companies that Barington believes can appreciate significantly in value when substantive improvements are made to their operations, corporate strategy, capital allocation and corporate governance. Barington's investment team, advisors and network of industry experts draw upon their extensive strategic, operating and boardroom experience to assist companies in designing and implementing initiatives to improve long-term shareholder value.
Media Contact:
Jonathan Gasthalter/Amanda Shpiner
Gasthalter & Co.
212-257-4170
Important Information and Participants in the Solicitation
Barington has filed a definitive proxy statement and associated GOLD proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of its slate of highly qualified director nominees at the upcoming annual meeting of stockholders of the Company. Details regarding the Barington nominees and the participants in its solicitation are included in its proxy statement and Barington strongly advises all shareholders of the company to read the proxy statement and other proxy materials as they contain important information.
The participants in Barington's proxy solicitation are Barington, Barington Companies Investors, LLC, Barington Capital Group, L.P., LNA Capital Corp., James Mitarotonda, 1 NBL EH, LLC, Joseph Gromek, Ana B. Amicarella and Chan W. Galbato.
If you have any questions, require assistance in voting your GOLD universal proxy card,
or need additional copies of Barington's proxy materials, please contact:
Okapi Partners
1212 Avenue of the
Banks and Brokerage Firms, Please Call: (212) 297-0720
Shareholders and All Others Call Toll-Free: (877) 285-5990
E-mail: info@okapipartners.com
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SOURCE Barington Capital Group, L.P.
FAQ
What percentage of MATW shares does Barington Capital own?
Who are the three nominees Barington Capital proposes for MATW's board?
What major changes has MATW announced ahead of its 2025 Annual Meeting?
Why is Barington Capital pushing for board changes at MATW?
