Barington Capital Sends Letter to Matthews International Shareholders Urging Them to Vote GOLD "FOR" the Election of ALL of Barington's Nominees to the Matthews Board
Barington Capital, owning approximately 2.1% of Matthews International (NASDAQ: MATW), has sent a letter to shareholders urging them to vote for their three director nominees to the Matthews Board. The letter highlights that all three leading proxy advisory firms - ISS, Glass Lewis, and Egan-Jones - have unanimously recommended shareholders vote in favor of Barington's nominees: Ana B. Amicarella, Chan W. Galbato, and James Mitarotonda.
Barington emphasizes Matthews' poor fiscal 2025 first quarter earnings results as evidence of management's pattern of unfulfilled promises. The activist investor believes their nominees bring necessary skills and fresh perspectives to drive meaningful change and long-term value creation at Matthews.
Barington Capital, che possiede circa il 2,1% di Matthews International (NASDAQ: MATW), ha inviato una lettera agli azionisti esortandoli a votare per i loro tre candidati alla carica di direttore nel Consiglio di Matthews. La lettera sottolinea che tutte e tre le principali società di consulenza proxy - ISS, Glass Lewis e Egan-Jones - hanno raccomandato all'unanimità agli azionisti di votare a favore dei candidati di Barington: Ana B. Amicarella, Chan W. Galbato e James Mitarotonda.
Barington evidenzia i risultati del primo trimestre fiscale 2025 di Matthews come prova del modello di promesse non mantenute da parte della direzione. L'investitore attivista crede che i loro candidati portino competenze necessarie e nuove prospettive per guidare un cambiamento significativo e creare valore a lungo termine in Matthews.
Barington Capital, que posee aproximadamente el 2.1% de Matthews International (NASDAQ: MATW), ha enviado una carta a los accionistas instándolos a votar por sus tres nominados a director para la Junta de Matthews. La carta destaca que las tres principales firmas de asesoría de voto - ISS, Glass Lewis y Egan-Jones - han recomendado unánimemente a los accionistas votar a favor de los nominados de Barington: Ana B. Amicarella, Chan W. Galbato y James Mitarotonda.
Barington enfatiza los pobres resultados de ganancias del primer trimestre fiscal 2025 de Matthews como evidencia del patrón de promesas incumplidas por parte de la dirección. El inversor activista cree que sus nominados aportan las habilidades necesarias y nuevas perspectivas para impulsar un cambio significativo y la creación de valor a largo plazo en Matthews.
바링턴 캐피탈은 매튜스 인터내셔널(NASDAQ: MATW)의 약 2.1%를 보유하고 있으며, 주주들에게 매튜스 이사회에 대한 세 명의 이사 후보에 투표할 것을 촉구하는 서한을 보냈습니다. 이 서한은 ISS, Glass Lewis, Egan-Jones의 세 주요 의결권 자문사가 모두 바링턴의 후보인 아나 B. 아미카렐라, 찬 W. 갈바토, 제임스 미타로돈다에게 찬성 투표를 권장했다고 강조합니다.
바링턴은 매튜스의 2025 회계연도 1분기 실적이 경영진의 약속 불이행 패턴을 증명하는 사례라고 강조합니다. 이 액티비스트 투자자는 그들의 후보가 매튜스에서 의미 있는 변화와 장기적인 가치 창출을 이끌어낼 필요 기술과 신선한 관점을 가져온다고 믿고 있습니다.
Barington Capital, détenant environ 2,1 % de Matthews International (NASDAQ: MATW), a envoyé une lettre aux actionnaires les exhortant à voter pour leurs trois candidats au conseil d'administration de Matthews. La lettre souligne que les trois principales sociétés de conseil en vote - ISS, Glass Lewis et Egan-Jones - ont unanimement recommandé aux actionnaires de voter en faveur des candidats de Barington : Ana B. Amicarella, Chan W. Galbato et James Mitarotonda.
Barington met en avant les mauvais résultats financiers du premier trimestre 2025 de Matthews comme preuve du schéma de promesses non tenues de la direction. L'investisseur activiste estime que leurs candidats apportent les compétences nécessaires et de nouvelles perspectives pour favoriser un changement significatif et créer de la valeur à long terme chez Matthews.
Barington Capital, das etwa 2,1 % von Matthews International (NASDAQ: MATW) besitzt, hat einen Brief an die Aktionäre gesendet, in dem sie aufgefordert werden, für ihre drei Direktorenkandidaten im Matthews-Vorstand zu stimmen. Der Brief hebt hervor, dass alle drei führenden Proxy-Beratungsunternehmen - ISS, Glass Lewis und Egan-Jones - einstimmig empfohlen haben, dass die Aktionäre für die Kandidaten von Barington stimmen: Ana B. Amicarella, Chan W. Galbato und James Mitarotonda.
Barington betont die schwachen Ergebnisse des ersten Quartals 2025 von Matthews als Beweis für das Muster unerfüllter Versprechungen des Managements. Der aktivistische Investor ist der Ansicht, dass ihre Kandidaten notwendige Fähigkeiten und frische Perspektiven mitbringen, um bedeutende Veränderungen und langfristige Wertschöpfung bei Matthews voranzutreiben.
- Unanimous support from all three major proxy advisory firms for Barington's nominees
- Potential for improved oversight and accountability through board changes
- Poor fiscal 2025 first quarter earnings performance
- Ongoing management issues and unfulfilled promises
- Active proxy contest indicating corporate governance concerns
Insights
The unanimous endorsement from all three major proxy advisory firms - ISS, Glass Lewis, and Egan-Jones - for Barington Capital's board nominees represents an exceptional vote of confidence in the activist investor's campaign. Such complete alignment among these influential firms is rare and typically signals serious corporate governance concerns that transcend typical activist complaints.
The proposed slate of directors brings significant relevant expertise: Ana B. Amicarella has extensive operational experience, Chan W. Galbato brings strong turnaround expertise, and James Mitarotonda has a proven track record in activist investing and corporate governance reforms. Their collective experience appears well-suited to address Matthews' operational challenges and strategic missteps.
The timing of this proxy battle is particularly critical given Matthews' disappointing Q1 FY2025 results. The reference to management's "pattern of false hope and empty promises" suggests a deeper issue with strategic execution and board oversight. A board refresh could catalyze necessary changes in corporate strategy, capital allocation, and operational efficiency.
The 2.1% ownership stake by Barington, while relatively modest, has proven sufficient to gain institutional support, indicating broader shareholder dissatisfaction with the current board's performance. The outcome of this proxy contest could have significant implications for Matthews' future strategic direction and operational focus, potentially leading to improved shareholder value through enhanced governance and strategic oversight.
Highlights Unanimous Support of Barington's Director Nominees by Leading Proxy Advisory Firms ISS, Glass Lewis and Egan-Jones
Believes Matthews' Poor Fiscal 2025 First Quarter Earnings Results Further Demonstrates Management's Pattern of False Hope and Empty Promises
Barington's Nominees Bring the Skills, Experience and Fresh Perspectives Required to Help Drive Meaningful Change and Long-Term Value Creation at Matthews
The full letter is available at https://barington.com/matthews
James Mitarotonda, Chairman and CEO of Barington Capital, said, "We believe the time for change at Matthews is now. All three leading independent proxy advisory firms, ISS, Glass Lewis and Egan-Jones, agree and have unanimously recommended that Matthews' shareholders vote in favor of the election of Barington's nominees to the Matthews Board and against the status quo. By voting the GOLD proxy card "FOR" the election of Ana Amicarella, Chan Galbato and James Mitarotonda, shareholders can help protect the value of their investment and restore much-needed accountability and strong oversight of management to the Matthews Board. We urge shareholders to make their voices heard and join us in electing Barington's nominees today."
TIME IS RUNNING OUT: FOLLOW THE RECOMMENDATIONS OF CREDIBLE THIRD-PARTY PROXY ADVISORY FIRMS AND VOTE GOLD 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
View original content:SOURCE Barington Capital Group, L.P.
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