Unanimous Support for Barington’s Director Nominees
Leading Proxy Advisory Firms Back Barington’s Candidates
New York, Feb. 12, 2025 /PRNewswire/ — Barington Capital Group, L.P. (“Barington Capital”), a fundamental, value-oriented activist investor along with other participants in its solicitation, has garnered unanimous support from leading proxy advisory firms ISS, Glass Lewis, and Egan-Jones for the election of its director nominees at Matthews International Corporation (NASDAQ: MATW).
This strategic move comes in the wake of Matthews International Corporation’s poor fiscal 2025 first quarter earnings results, further highlighting management’s pattern of false hope and empty promises. Barington Capital believes that the Company is in need of a change in leadership to drive meaningful progress and long-term value creation.
Barington’s nominees bring with them a wealth of skills, experience, and fresh perspectives that are essential for steering Matthews International Corporation in a new direction. The activist investor, owning approximately 2.1% of the Company’s outstanding shares, aims to ensure that the best interests of shareholders are represented at the board level.
The unanimous support from proxy advisory firms underscores the confidence in Barington’s candidates and their ability to bring about positive change at Matthews International Corporation. It highlights the growing momentum behind the activist investor’s efforts to enact significant reforms within the Company.
Impact on Individuals:
As a shareholder of Matthews International Corporation, the election of Barington’s director nominees could impact your investment in the Company. The change in leadership and management approach proposed by Barington Capital may lead to improvements in performance and long-term value creation, potentially benefiting shareholders in the long run.
Global Implications:
The success of Barington Capital’s campaign at Matthews International Corporation could set a precedent for activist investors seeking to drive change within other publicly traded companies. It may encourage greater shareholder activism and engagement, ultimately leading to more accountability and transparency in the corporate world.
Conclusion:
Barington Capital’s garnering of unanimous support for its director nominees from leading proxy advisory firms represents a significant step towards effecting change at Matthews International Corporation. The activist investor’s push for new leadership and strategic direction underscores the importance of shareholder advocacy in corporate governance and value creation.
