GAMCO Asset Management Endorses Matthews’ Director Nominees
Urges Shareholders to Vote “FOR” All Three of Matthews’ Director Nominees on the WHITE Proxy Card and “WITHHOLD” on Barington’s Director Nominees
PITTSBURGH, Feb. 03, 2025 – Matthews International Corporation (NASDAQ GSM: MATW), known for its extensive 175-year history in memorialization products, industrial technologies, and brand solutions, has received a significant endorsement from GAMCO Asset Management, one of the company’s top shareholders. This move comes ahead of an upcoming Annual Meeting where shareholders will decide between supporting Matthews’ existing director nominees or an activist slate proposed by Barington Capital Management.
GAMCO Supports Matthews’ Director Nominees
On January 31, 2025, GAMCO announced its support for Matthews’ nominees: Terry L. Dunlap, Alvaro Garcia-Tunon, and J. Michael Nauman. GAMCO’s support is a clear endorsement of Matthews’ strategy and the current board’s ability to drive long-term shareholder value. In a press release, GAMCO stated, “After a thorough review, GAMCO believes that Matthews’ proposed slate of nominees is best positioned, at this time, to focus and execute on the Company’s efforts to surface underlying value for all shareholders.”
The Importance of the Matthews Nominees
Matthews’ director nominees bring a wealth of experience relevant to the company. Garcia-Tunon and Dunlap have a strong background in manufacturing that has been crucial to shaping Matthews’ recent business expansions. Nauman, with his extensive leadership at Brady Corporation, will add valuable expertise in launching Matthews’ new Product Identification (PID) offerings.
Barington’s Critique and Nominees
In contrast, Barington Capital Management’s nominees are seen as a threat to Matthews’ stable progress. Barington, known for advocating for changes in corporate boards, has criticized Matthews’ strategic focus and supports nominees whose backgrounds do not align as closely with Matthews’ core business areas.
James Mitarotonda, the principal of Barington and one of its nominees, has shown limited understanding of Matthews’ operations as a consultant. His experience is primarily in public company direction, but his track record is marred by past actions that resulted in financial losses for shareholders. Similarly, Mr. Galbato and Ms. Amicarella lack the technical manufacturing experience critical to Matthews’ operations.
Shareholder Support and Voting Instructions
Matthews emphasizes the importance of shareholder support to maintain its positive momentum. Shareholders are urged to vote “FOR” the three Matthews nominees on the WHITE proxy card and to “WITHHOLD” their votes for Barington’s nominees. The company encourages shareholders to follow the voting instructions provided in the enclosed proxy card or online.
YOUR VOTE IS IMPORTANT!
Your vote is important, and we ask that you please vote “FOR” the election of our three nominees: Terry L. Dunlap, Alvaro Garcia-Tunon and J. Michael Nauman using the WHITE proxy card and “WITHHOLD” on Barington’s nominees.
Simply follow the easy instructions on the enclosed WHITE proxy card to vote by internet or by signing, dating and returning the WHITE proxy card in the postage-paid envelope provided. If you received this letter by email, you may also vote by pressing the WHITE “VOTE NOW” button in the accompanying email. The Board of Directors urges you to disregard any such materials and does not endorse any of Barington’s nominees.
If you have any questions or require any assistance with voting your shares, please call the Company’s proxy solicitor at:
(888) 755-7097 or email MATWinfo@Georgeson.com
Conclusion: The Matthews Nominees’ Prospects
The support of GAMCO Asset Management underscores the belief in Matthews’ current board’s ability to navigate the company successfully into the future. Matthews’ nominees bring a deep understanding of the business, coupled with new insights to propel the company forward. Shareholders who want to see Matthews continue its journey of innovation and growth should exercise their voting rights in favor of the Matthews nominees.
YOUR VOTE IS CRITICAL TO ENSURE MATTHEWS’ POSITIVE MOMENTUM
Our Board nominees are best qualified to guide our strategy, with the experience and expertise necessary to successfully deliver Matthews’ vision and drive enhanced shareholder value. Do not allow Barington to derail Matthews’ positive trajectory by replacing critical members of your Board with people who don’t understand our business.
Protect the value of your investment and vote the WHITE proxy card today “FOR ALL” of Matthews’ highly qualified nominees TODAY.
Sincerely,
The Matthews Board of Directors
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