Highlighting Matthews’ Longstanding Culture of Deceit
Most Recently Evidenced by its Meandering and Misguided 68-page Presentation
Believes Matthews’ Status Quo is Untenable and the Election of Ana Amicarella, Chan Galbato and James Mitarotonda is Required to Drive Much-Needed Change and Long-Term Value Creation
Urges Shareholders to Vote the GOLD Proxy Card “FOR” the Election of ALL of Barington Capital’s Nominees
NEW YORK, Jan. 30, 2025 /PRNewswire/ — Barington Capital Group, L.P. (“Barington Capital”), a fundamental, value-oriented activist investor that, together with the other participants in its solicitation (collectively “Barington” or “we”), beneficially owns approximately 1.9% of the outstanding shares of common stock of Matthews International Corporation (NASDAQ: MATW) (“Matthews” or the “Company”), today sent a letter to the Company’s shareholders highlighting the excuses, half-truths and lofty promises Matthews recently published in a meandering and blatantly misguided 68-page investor presentation.
Matthews International Corporation has long been plagued by a culture of deceit, as evidenced by their latest 68-page investor presentation. Barington Capital, an activist investor, believes that Matthews’ current status quo is unsustainable and that a change in leadership is necessary to drive much-needed change and long-term value creation. Barington is advocating for the election of Ana Amicarella, Chan Galbato, and James Mitarotonda to the board of directors, urging shareholders to vote for them using the GOLD proxy card.
The presentation released by Matthews is filled with excuses, half-truths, and promises that seem lofty and misleading. Barington Capital is calling out the company’s deceptive practices and pushing for transparency and accountability in corporate governance. The activist investor is determined to shake up the current leadership at Matthews in order to unlock value for shareholders and drive positive change within the company.
Impact on Individuals:
As a shareholder of Matthews International Corporation, the election of new board members recommended by Barington Capital could potentially lead to a shift in the company’s direction and strategy. It is important for individual investors to stay informed about the developments and decisions being made by the board in order to protect their investments and ensure the long-term success of the company.
Impact on the World:
The influence of activist investors like Barington Capital on corporate governance can have broader implications for the business world as a whole. By holding companies accountable for their actions and advocating for change, activists help to promote greater transparency, accountability, and ethical practices in the corporate sector. This can ultimately lead to a more sustainable and responsible business environment, benefiting not only shareholders but also the broader global economy.
Conclusion:
The ongoing battle between Barington Capital and Matthews International Corporation highlights the importance of corporate governance and the role of activist investors in driving positive change within companies. Shareholders should remain vigilant and informed about the developments in order to make decisions that align with their interests and values. Ultimately, the outcome of this proxy fight could have far-reaching implications for both individual investors and the broader business world.
