On February 20, 2025, preliminary vote results indicated that Matthews International Corporation secured enough support to successfully beat back a board-room challenge from activist investor Barington Capital Group. Sources familiar with the matter reported that shareholders voted to re-elect all three of the casket maker's incumbent directors.
Barington Capital, which owns approximately 2% of Matthews' stock, had nominated three candidates, arguing for new leadership and strategic changes, including divestments. The activist firm had also called for the replacement of long-serving CEO Joseph Bartolacci.
While votes were still being counted, the preliminary tallies suggested a victory for Matthews' management. This outcome indicates shareholder confidence in the current board and its strategic direction, despite the activist campaign.
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