BARINGTON CAPITAL GROUP SENDS LETTER TO CHAIRMAN OF THE BOARD OF MATTHEWS INTERNATIONAL HIGHLIGHTING URGENT NEED FOR NEW LEADERSHIP
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Barington Capital Group has sent a letter to Matthews International's board chairman, urging the replacement of CEO Joseph C. Bartolacci due to poor capital allocation and share price performance. They recommend reducing debt, divesting underperforming businesses, and improving governance.
December 10, 2024 | 1:15 pm
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Barington Capital Group calls for leadership change at Matthews International, citing poor capital allocation and share price performance. They suggest reducing debt and divesting underperforming businesses.
Barington Capital's call for a leadership change and strategic shifts at Matthews International suggests potential instability and uncertainty, likely leading to short-term negative sentiment in the stock market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100