Matthews International Announces Retirement Plans of CFO Steven F. Nicola and Appointment of Daniel E. Stopar as Successor

Rhea-AI Summary

Matthews International (NASDAQ:MATW) announced that CFO and Treasurer Steven F. Nicola will retire on December 31, 2025, after more than 30 years with the company. Nicola, who joined Matthews in 1992 and has served as CFO since 2003, has been instrumental in guiding the company's financial strategy and growth.

The company has appointed Daniel E. Stopar as the new CFO and Treasurer, effective December 1, 2025. Stopar, who joined Matthews in 2013, currently serves as Senior Vice President, Operations Controller and Head of Global Business Services, and brings extensive experience from previous roles at Royal Philips Electronics and Respironics.

Positive

• Smooth leadership transition with one-month overlap period between incoming and outgoing CFOs
• Internal promotion demonstrates strong succession planning and talent development
• New CFO brings extensive relevant experience from both internal roles and external companies

Negative

• Loss of institutional knowledge with departure of long-serving CFO after 30+ years
• Potential adjustment period as new CFO takes over financial leadership

PITTSBURGH, Aug. 19, 2025 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ GSM: MATW) (“Matthews” or the “Company”) today announced that Steven F. Nicola, Chief Financial Officer and Treasurer, has advised the Company’s Board of Directors (the “Board”) of his plans to retire effective December 31, 2025, after more than three decades of dedicated service. Mr. Nicola joined Matthews in 1992 and has served as CFO since 2003. Throughout his tenure, he played a pivotal role in guiding the Company’s financial strategy, governance, and growth.

“Steve’s leadership and integrity have been instrumental to Matthews’ success,” said Joe Bartolacci, President and CEO. “His steady guidance and deep financial expertise have helped shape the Company’s growth and resilience over the years. We thank him for his outstanding contributions and wish him the very best in retirement.”

The Board has named Daniel E. Stopar to succeed Mr. Nicola as Chief Financial Officer and Treasurer, effective December 1, 2025. Mr. Stopar, who joined Matthews in 2013, has extensive experience in financial, accounting and reporting matters and has held various executive financial roles with the Company, most recently as Senior Vice President, Operations Controller and Head of Global Business Services. Prior to joining Matthews, Mr. Stopar served in several financial leadership roles for Royal Philips Electronics and Respironics, Inc.

About Matthews International
Matthews International Corporation operates through two core global businesses – Industrial Technologies and Memorialization. Both are focused on driving operational efficiency and long-term growth through continuous innovation and strategic expansion. The Industrial Technologies segment evolved from our original marking business, which today is a leading global innovator committed to empowering visionaries to transform industries through the application of precision technologies and intelligent processes. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. In addition, the Company also has a significant investment in Propelis, a brand solutions business formed through the merger of SGK and SGS & Co. Propelis delivers integrated solutions including brand creative, packaging, print solutions, branded environments, and content production. Matthews International has over 5,400 employees in 19 countries on four continents that are committed to delivering the highest quality products and services.

Matthews International Corporation
Corporate Office
Two NorthShore Center
Pittsburgh, PA  15212-5851
Phone: 412.442.8200

		Contact:	Tanya Williams
			Sr. Director, Corporate Communications

FAQ

When is Matthews International (MATW) CFO Steven Nicola retiring?

Steven F. Nicola will retire as CFO and Treasurer of Matthews International on December 31, 2025, after more than three decades with the company.

Who will be the new CFO of Matthews International (MATW)?

Daniel E. Stopar will succeed Steven Nicola as CFO and Treasurer, effective December 1, 2025. Stopar currently serves as Senior Vice President, Operations Controller and Head of Global Business Services.

How long has Steven Nicola served as Matthews International CFO?

Steven Nicola has served as Matthews International's CFO since 2003, having joined the company in 1992.

What is Daniel Stopar's background before becoming Matthews International CFO?

Daniel Stopar joined Matthews in 2013 and has held various executive financial roles. Prior to Matthews, he served in financial leadership positions at Royal Philips Electronics and Respironics, Inc.

When will the CFO transition take place at Matthews International (MATW)?

The transition will occur with a one-month overlap, as Daniel Stopar takes over as CFO on December 1, 2025, while Steven Nicola will retire on December 31, 2025.