ISS recommends Matthews International investors elect all 3 activist candidates (updated)

Matthews International

07/02/2025 24:38

(Adds details in paragraphs 3-4)
    By Svea Herbst-Bayliss
       NEW YORK, Feb 6 (Reuters) - Proxy advisory firm
Institutional Shareholder Services on Thursday recommended that
Matthews International  MATW.O  shareholders elect all three of
activist investor Barington Capital's director nominees to the
company's board.
    ISS argued the nominees, including Barington founder James
Mitarotonda, would bring valuable perspective to the casket
maker's 11-member board after current directors "failed to
exercise effective oversight of management."
    The firm, whose voting recommendations are widely followed
by investors, praised the company for recent changes but noted
that improvements, including the sale of SGK Brand Solutions,
have only been made since Barington bought into the stock.
        Barington owns a nearly 2% stake in Matthews, which has
a market valuation of $912 million.
        Shareholders will elect directors on February 20 unless
the two sides reach an agreement beforehand.

 (Reporting by Svea Herbst-Bayliss; Editing by Sandra Maler and
Jamie Freed)
 ((svea.herbst@thomsonreuters.com; +617 233 2138; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))