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Steel Partners Holdings Mourns the Passing of Board Member General Richard “Butch” Neal, USMC (Ret).

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Steel Partners Holdings L.P. (NYSE: SPLP) announced the passing of General Richard I. "Butch" Neal, a dedicated board member since July 15, 2009. General Neal contributed significantly as a member of the Audit and Governance Committees, and his leadership and commitment were valued by the company and its stakeholders. Executive Chairman Warren Lichtenstein praised Neal's selflessness and dedication, stating that the company is better due to his service. His legacy includes inspiring leadership and a genuine care for people, which will continue to influence Steel Partners.

Positive
  • General Neal's long tenure on the board since 2009 indicates stability in governance.
  • His leadership and commitment positively impacted the company culture and stakeholder relations.
Negative
  • The loss of General Neal may create a gap in leadership and experience on the board.

NEW YORK--(BUSINESS WIRE)-- Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company (“Steel Partners”), today announced with great sadness the death of longtime Board of Directors member General Richard I. “Butch” Neal, USMC (Ret). General Neal served on the board of Steel Partners since July 15, 2009, and he was a member of both the Audit Committee and Governance and Nominating Committee.

(Photo: Business Wire)

(Photo: Business Wire)

In the foreword to his book “What Now, Lieutenant?,” General Neal reminded us that “there is nothing you can’t accomplish if you stick with it and work hard. Nothing in life is easy, and there is no such thing as a free lunch. But, regardless of your starting point in life and the challenges or obstacles you may face along the way, everything can still work out in the end. There is nothing we can do to change certain unalterable facts of our lives, but one critical thing is always within our control – the ability to use the gifts and capabilities we do have in order to bring about the outcomes we desire.”

“General Neal was an inspiring leader, dedicated patriot, and friend,” said Executive Chairman Warren Lichtenstein. “Steel Partners is better because of his service to our Company, our stakeholders, and our unitholders, and as a nation, we are forever grateful for his service to our country. We will continue to follow his example and do everything we can to be the best version of ourselves for our family, friends, this Company, and our country.”

General Neal was selfless with his time and dedication to his role at Steel Partners and truly embodied our Core Values of Teamwork, Respect, Integrity, and Commitment. During his tenure as a board member, he served as the keynote speaker at an investor event and the CEO Summit, and he traveled to our business units to meet with our veterans. More than that, he remembered the personal details of staff members, following up to check with staff about how their new baby was doing or ask about a spouse. He truly cared about people, and we are all deeply saddened at his passing and extend our sincere condolences to his family.

About Steel Partners Holdings L.P.

Steel Partners Holdings L.P. (www.steelpartners.com) is a diversified global holding company that owns and operates businesses and has significant interests in leading companies in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking and youth sports.

Investor contact:

Jennifer Golembeske

212-520-2300

jgolembeske@steelpartners.com

Source: Steel Partners Holdings L.P.

FAQ

What was General Richard I. Neal's role at Steel Partners Holdings L.P.?

General Richard I. Neal served as a board member of Steel Partners Holdings L.P. since July 15, 2009, and was part of the Audit and Governance Committees.

How will General Neal's passing affect Steel Partners Holdings L.P.?

General Neal's passing may impact leadership continuity and experience on the board, creating a potential gap in governance.

What contributions did General Neal make to Steel Partners?

General Neal contributed significantly to the company through his leadership, being a keynote speaker at events, and showing genuine care for employees.

STEEL PARTNERS HOLDINGS L.P.

NYSE:SPLP

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