#Glass Lewis #Matthews International #Barington Capital

Glass Lewis Backs Barington Capital's Nominees for Matthews

In a significant move for shareholders of Matthews International Corporation, the notable proxy advisory firm Glass Lewis has joined forces with Institutional Shareholder Services (ISS) and Egan-Jones to recommend voting for Barington Capital's slate of candidates. This recommendation arrives as the firm has scrutinized Matthews under the current leadership, highlighting concerns about its consistent underperformance.

Barington Capital, which holds a 2.1% stake in Matthews, has put forth a trio of nominees: Ana Amicarella, Chan Galbato, and James Mitarotonda. The upcoming vote for these nominees is scheduled for Matthews' Annual Meeting on February 20, 2025. Shareholders are being urged to use the GOLD proxy card to register their votes in favor of these candidates.

James Mitarotonda, Chairman and CEO of Barington Capital, expresses satisfaction with the endorsements from multiple proxy advisory firms, asserting that they recognize the pressing need for change at Matthews. He emphasizes that the existing board has not successfully addressed the company’s financial and strategic challenges.

Glass Lewis shared that Matthews has shown persistent deterioration, especially during Mr. Bartolacci's tenure as CEO. The advisory firm criticized the current board for offering little guidance or insight regarding the company's value, and that Matthews' prolonged underperformance should prompt investors to reconsider their support for incumbents. They believe that the current leadership lacks the vision necessary to implement vital reforms.

Moreover, Glass Lewis acknowledges Barington's constructive engagement in recent years, citing their consistent attempts to influence necessary changes at Matthews. The advisory firm noted that Barington's proposed roadmap for improvement seems more viable compared to the incumbent board's approach. They believe that Barington's nominees represent a credible team that has the potential to drive the company towards a better performance trajectory.

As shareholders prepare for the upcoming vote, Barington Capital is eager to reinforce their case for a leadership change. They invite all investors to become informed by visiting their campaign website, where they outline additional information regarding their recommened nominations and overall strategy for Matthews.

In conclusion, this endorsement marks a crucial turning point for Matthews International. As the vote approaches, the implications for Matthews' future direction will heavily depend on the outcome of shareholders’ decisions based on the proxy recommendations from renowned advisory firms like Glass Lewis, ISS, and Egan-Jones. The call to action is clear: vote the GOLD proxy card