Barington Capital Group Files Definitive Proxy Statement for Matthews International's 2025 Annual Meeting
Barington Capital Group, owning approximately 1.9% of Matthews International (NASDAQ: MATW), has filed a definitive proxy statement nominating three directors - Ana B. Amicarella, Chan W. Galbato, and James Mitarotonda - for election to Matthews' Board at the 2025 Annual Meeting.
The activist investor has outlined a four-step plan for long-term value creation, criticizing the current Board and CEO for share price underperformance, poor operational execution, capital allocation, and excessive spending. Barington notes that Matthews recently announced the sale of its SGK Brand Solutions segment, implementing one of Barington's recommendations, but claims this action was taken only after pressure from their potential proxy solicitation.
Barington believes new directors with fresh perspectives and significant business experience are important for improving corporate governance, strategic focus, return on invested capital, and revenue growth.
Barington Capital Group, proprietaria di circa l'1,9% di Matthews International (NASDAQ: MATW), ha presentato una dichiarazione di delega definitiva per nominare tre direttori - Ana B. Amicarella, Chan W. Galbato e James Mitarotonda - per l'elezione nel Consiglio di Amministrazione di Matthews durante l'Assemblea Annuale del 2025.
L'investitore attivista ha delineato un piano in quattro fasi per la creazione di valore a lungo termine, criticando l'attuale Consiglio e CEO per il mancato rendimento del prezzo delle azioni, l'esecuzione operativa scarsa, l'allocazione di capitale e la spesa eccessiva. Barington osserva che Matthews ha recentemente annunciato la vendita del suo segmento SGK Brand Solutions, implementando una delle raccomandazioni di Barington, ma sostiene che questa azione sia stata intrapresa solo dopo pressioni dovute alla loro potenziale sollecitazione di deleghe.
Barington crede che nuovi direttori con prospettive fresche ed esperienza aziendale significativa siano importanti per migliorare la governance aziendale, il focus strategico, il ritorno sul capitale investito e la crescita dei ricavi.
Barington Capital Group, que posee aproximadamente el 1,9% de Matthews International (NASDAQ: MATW), ha presentado una declaración de poder definitiva nominando a tres directores - Ana B. Amicarella, Chan W. Galbato y James Mitarotonda - para su elección en la Junta de Matthews durante la Junta Anual de 2025.
El inversor activista ha delineado un plan de cuatro pasos para la creación de valor a largo plazo, criticando a la actual Junta y al CEO por el bajo rendimiento del precio de las acciones, la mala ejecución operativa, la asignación de capital y el gasto excesivo. Barington señala que Matthews anunció recientemente la venta de su segmento SGK Brand Solutions, implementando una de las recomendaciones de Barington, pero afirma que esta acción se tomó solo después de la presión de su posible solicitud de poderes.
Barington cree que nuevos directores con perspectivas frescas y una experiencia empresarial significativa son importantes para mejorar la gobernanza corporativa, el enfoque estratégico, el retorno sobre el capital invertido y el crecimiento de los ingresos.
베어링턴 캐피탈 그룹은 매튜스 인터내셔널(NASDAQ: MATW)의 약 1.9%를 소유하고 있으며, 2025년 연례 회의에서 매튜스 이사회에 선출될 세 명의 이사를 - 아나 B. 아미카렐라, 찬 W. 갈바토, 제임스 미타로돈다 - 지명하는 최종 위임장 성명을 제출했습니다.
행동주의 투자자는 장기적인 가치 창출을 위한 4단계 계획을 개요하고, 주가 부진, 잘못된 운영 실행, 자본 배분 및 과도한 지출에 대해 현 이사회와 CEO를 비판했습니다. 베어링턴은 매튜스가 최근 SGK 브랜드 솔루션 사업부 매각을 발표했으며, 이는 베어링턴의 권고 중 하나를 실행한 것이라고 언급하지만, 이 조치가 그들의 잠재적인 위임장 요청으로 인한 압박 이후에만 이루어졌다고 주장합니다.
베어링턴은 신선한 시각과 상당한 비즈니스 경험을 가진 새로운 이사들이 기업 거버넌스, 전략적 집중, 투자 자본에 대한 수익, 수익 성장 개선에 중요하다고 믿고 있습니다.
Barington Capital Group, qui possède environ 1,9 % de Matthews International (NASDAQ: MATW), a déposé une déclaration de procuration définitive nommant trois administrateurs - Ana B. Amicarella, Chan W. Galbato et James Mitarotonda - pour l'élection au conseil d'administration de Matthews lors de l'assemblée annuelle de 2025.
L'investisseur activiste a présenté un plan en quatre étapes pour la création de valeur à long terme, critiquant l'actuel conseil d'administration et le PDG pour la sous-performance du cours de l'action, la mauvaise exécution opérationnelle, l'allocation du capital et les dépenses excessives. Barington note que Matthews a récemment annoncé la vente de son segment SGK Brand Solutions, mettant en œuvre l'une des recommandations de Barington, mais prétend que cette action n'a été entreprise qu'après des pressions liées à leur demande potentielle de procuration.
Barington estime que de nouveaux administrateurs avec des perspectives nouvelles et une expérience commerciale significative sont importants pour améliorer la gouvernance d'entreprise, l'accent stratégique, le retour sur capital investi et la croissance des revenus.
Barington Capital Group, das etwa 1,9 % von Matthews International (NASDAQ: MATW) besitzt, hat eine endgültige Vollmachtserklärung eingereicht, in der drei Direktoren - Ana B. Amicarella, Chan W. Galbato und James Mitarotonda - zur Wahl in den Vorstand von Matthews auf der Hauptversammlung 2025 nominiert werden.
Der aktivistische Investor hat einen vierstufigen Plan zur Schaffung von langfristigem Wert skizziert und die aktuelle Vorstandschaft und den CEO für die schwache Aktienkursentwicklung, die schlechte operative Ausführung, die Kapitalallokation und die übermäßigen Ausgaben kritisiert. Barington weist darauf hin, dass Matthews kürzlich die Verkaufsankündigung seines SGK Brand Solutions-Segments veröffentlicht hat, was eine der Empfehlungen von Barington umgesetzt hat, jedoch behauptet, dass diese Maßnahme nur nach Druck durch ihre potenzielle Vollmachtsanfrage ergriffen wurde.
Barington ist der Ansicht, dass neue Direktoren mit frischen Perspektiven und erheblichen Geschäftserfahrungen wichtig sind, um die Unternehmensführung, den strategischen Fokus, die Rendite auf investiertes Kapital und das Umsatzwachstum zu verbessern.
- Company announced plans to sell SGK Brand Solutions segment, potentially unlocking value
- Share price underperformance reported by activist investor
- Poor operational execution and capital allocation cited
- Excessive spending identified as ongoing issue
- Activist investor criticism of current management and board performance
Insights
The activist campaign by Barington Capital marks a pivotal moment for Matthews International. With a
The push for selling SGK Brand Solutions demonstrates Barington's influence in forcing strategic changes. The timing of Matthews' announcement, coming after Barington's pressure, suggests reactive rather than proactive governance. The current board's delayed response to shareholder concerns indicates potential entrenchment issues that typically lead to value destruction.
For retail investors: Think of this as a house needing renovation - Barington is essentially proposing to replace the architects (board members) who've let the house fall into disrepair, while also suggesting a new contractor (CEO) to execute the repairs more effectively.
This proxy battle signals a critical inflection point for Matthews' capital allocation strategy. The core issue extends beyond leadership - it's about fundamental business execution and capital efficiency. With a market cap of
The SGK Brand Solutions sale proposal is particularly noteworthy as it could streamline the business and potentially unlock trapped value. For everyday investors: Imagine a retail store trying to sell too many different types of products - sometimes focusing on fewer, more profitable product lines (like Barington is suggesting) can make the business more valuable and easier to manage effectively.
The proxy contest dynamics here are particularly compelling. Barington's two-year engagement period before launching this proxy fight demonstrates a methodical approach to seeking change. Their four-step value creation plan and the nomination of qualified board candidates with relevant industry experience shows a well-thought-out strategy rather than a short-term activist play.
For the average investor: This is similar to a struggling sports team where fans (shareholders) have the opportunity to vote for new coaches (board members) who have a proven track record of turning around underperforming teams. The current leadership's reactive rather than proactive approach to Barington's suggestions indicates potential resistance to necessary changes that could benefit shareholders.
Sends Letter to Shareholders Outlining Barington Capital's Four-Step Plan to Drive Long-Term Value Creation at Matthews
Highlights Need for New Directors and a New CEO Following Years of Share Price Underperformance, Poor Operational Execution and Capital Allocation, Excessive Spending and Empty Promises
Urges Shareholders to Vote the GOLD Proxy Card "FOR" ALL Barington Capital Nominees
Additionally, Barington Capital is sending a letter to Matthews' shareholders outlining why it believes change is required on the Board and its proposed four-step plan to drive long-term value creation at the Company. Barington's letter to shareholders and definitive proxy statement can be found at: https://barington.com/matthews.
James Mitarotonda, Chairman and CEO of Barington Capital, said, "Matthews' Board and CEO have consistently failed to deliver results for shareholders despite repeated promises of value creation. After being unable and unwilling to make any meaningful progress on the proposals we presented to the Company over the last two years, Matthews recently announced that it was pursuing one of our recommendations, the sale of the SGK Brand Solutions segment. It is clear to us that the Company took this step only after we called for the Board to replace Mr. Bartolacci as CEO and our intention to commence a proxy solicitation became evident. We believe that the recent announcement underscores that the election of Barington's nominees is critical to ensuring that the Board takes all steps necessary to unlock the Company's full value potential.
"We believe Matthews' shareholders would meaningfully benefit from new directors with fresh perspectives, significant business, financial and corporate strategy experience, and a deep commitment to putting shareholders' interests first. If elected, Barington's nominees will be dedicated to working constructively with the incumbent directors to improve the Company's corporate governance, strategic focus, return on invested capital, and revenue growth in pursuit of creating sustainable value for all Matthews' shareholders."
VOTE GOLD TODAY TO DRIVE LONG-TERM VALUE CREATION AT 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
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