Matthews International Provides Updates Following Its 2026 Annual Meeting of Shareholders
Rhea-AI Summary
Matthews International (NASDAQ: MATW) held its 2026 Annual Meeting on February 19, 2026, re-electing Thomas A. Gebhardt, Aleta W. Richards, David A. Schawk, and Francis S. Wlodarczyk to the Board.
The Board adopted amendments to the Articles of Incorporation to enhance governance and selected J. Michael Nauman as Chairman, succeeding Alvaro Garcia-Tunon, who retired.
Positive
- J. Michael Nauman named Chairman, bringing 35+ years of executive experience
- Four directors re-elected, maintaining board continuity during strategic review
- Amendments to Articles of Incorporation adopted to strengthen governance
Negative
- Leadership transition: former Chairman Alvaro Garcia-Tunon retired, creating near-term governance change
Key Figures
Market Reality Check
Peers on Argus
MATW was near flat (+0.19%) while notable peer CODI appeared in momentum scanners, up about 4.67%. Other peers showed mixed, stock-specific moves, suggesting today’s governance news was company-specific rather than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 03 | Earnings and deleveraging | Positive | -0.8% | Q1 profit, major debt reduction, and EBITDA guidance reaffirmation. |
| Jan 28 | Dividend declaration | Positive | +0.5% | Board declared quarterly cash dividend of $0.255 per share. |
| Jan 12 | Note redemption | Positive | -3.0% | Announced full redemption of $300M 8.625% second lien notes due 2027. |
| Jan 09 | Earnings call notice | Neutral | -1.1% | Scheduled Q1 2026 earnings release and conference call details. |
| Jan 07 | Business divestiture | Positive | +4.8% | Closed sale of European packaging/tooling businesses, earmarking cash for debt reduction. |
Recent fundamentally positive actions (deleveraging, divestitures, earnings improvement) have sometimes seen mixed or negative next-day price reactions, while portfolio simplification news drew a stronger positive move.
Over the last few months, Matthews has focused on portfolio reshaping and balance sheet improvement. On Jan 7, it closed the sale of European packaging and tooling businesses and applied cash to debt reduction. On Jan 12, it moved to redeem its 8.625% 2027 notes, and first‑quarter results on Feb 3 showed a swing back to profitability with reaffirmed EBITDA guidance. The current governance and board updates build on this strategic and capital-structure repositioning theme.
Market Pulse Summary
This announcement focuses on governance continuity and refresh, including re‑electing four directors, amending the Articles of Incorporation, and appointing a new Chairman with over 35 years of experience. It follows a period of portfolio divestitures, debt reduction, and an amended credit agreement. Investors may watch how the revamped Board supports ongoing strategic review, capital allocation, and leverage objectives detailed in recent proxy and regulatory filings.
Key Terms
articles of incorporation regulatory
nasdaq gsm financial
AI-generated analysis. Not financial advice.
The Company re–elected Thomas A. Gebhardt, Aleta W. Richards, David A. Schawk, and Francis S. Wlodarczyk to its Board of Directors
Amendments to Matthews' Articles of Incorporation were adopted, reflecting the Company's commitment to enhancing governance standards
J. Michael Nauman was selected as the new Chairman of the Board
Among the meeting's key outcomes, the Company announced the re–election of Thomas A. Gebhardt, Aleta W. Richards, David A. Schawk, and Francis S. Wlodarczyk to its Board of Directors (the "Board"), reinforcing the Company's commitment to experienced and strategic leadership. Mr. Gebhardt, whose deep background in advanced battery technologies, will continue to strengthen the Company's momentum in emerging energy solutions. Ms. Richards, Mr. Schawk, and Mr. Wlodarczyk will each continue bringing sustained governance experience and broad strategic perspectives to the Matthews Board. All four have been instrumental over the past year as Matthews has continued reshaping its portfolio through its strategic review and value creation plan.
In addition to the re-election of Board members, amendments to Matthews' Articles of Incorporation were adopted, reflecting the Company's ongoing commitment to enhance its governance practices.
Following the Annual Shareholders Meeting, the Board of Directors formally selected J. Michael Nauman to replace Alvaro Garcia-Tunon as Chairman of the Board. Mr. Nauman was first appointed to Matthews' Board of Directors in February 2025. Retired as President, Chief Executive Officer, and Director of Brady Corporation, and previously of Molex Incorporated, Ohio Associate Enterprises, and Arthur Andersen and Co., Mr. Nauman is a highly experienced executive with over 35 years of commercial, strategic, and financial expertise.
"Michael brings incredible technical expertise, M&A experience, and leadership abilities that will benefit the Company as we continue repositioning Matthews," said Joe Bartolacci, President and CEO of Matthews. "I look forward to continuing to work alongside him and our fellow Board members as we guide Matthews for more sustainable growth and long-term value creation."
"On behalf of Matthews International and its Board of Directors, we extend our sincere appreciation to Alvaro Garcia-Tunon for his exceptional leadership as both a Board member and as Chairman," said new Chairman of the Board, Michael Nauman. "Since joining the Board in 2009, Alvaro's strategic insight and steady guidance have played a vital role in navigating the Company through numerous pivotal milestones. Matthews is deeply grateful for his service and we wish him the very best in his retirement."
About Matthews International Corporation
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 4,300 employees in 15 countries on four continents that are committed to delivering the highest quality products and services.
Forward-looking Information
Any forward-looking statements contained in this release are included pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of Matthews International Corporation and its consolidated subsidiaries (collectively "Matthews" or the "Company") regarding the future, including statements regarding the anticipated benefits and risks associated with the joint venture transaction with Peninsula Parent LLC, d.b.a. Propelis Group ("Propelis") and the timing thereof, and may be identified by the use of words such as "expects," "believes," "intends," "projects," "anticipates," "estimates," "plans," "seeks," "forecasts," "predicts," "objective," "targets," "potential," "outlook," "may," "will," "could" or the negative of these terms, other comparable terminology and variations thereof. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to be materially different from management's expectations, and no assurance can be given that such expectations will prove correct. Factors that could cause the Company's results to differ materially from the results discussed in such forward-looking statements principally include risks to our ability to achieve the anticipated benefits of the joint venture transaction with Propelis that closed in fiscal year 2025, changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in interest rates, changes in the cost of materials used in the manufacture of the Company's products, including changes in costs due to adjustments to tariffs, any impairment of goodwill or intangible assets, environmental liability and limitations on the Company's operations due to environmental laws and regulations, disruptions to certain services, such as telecommunications, network server maintenance, cloud computing or transaction processing services, provided to the Company by third-parties, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company's acquisitions, divestitures, and business combinations, cybersecurity concerns and costs arising with management of cybersecurity threats, effectiveness of the Company's internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company's control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between
Matthews International Corporation
Corporate Office
Two NorthShore Center
Phone: (412) 442-8200
Contact: Daniel E. Stopar
Matthews International
Chief Financial Officer and Treasurer
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SOURCE Matthews International Corporation
FAQ
Who was named Chairman of the Board for Matthews International (MATW) at the February 19, 2026 meeting?
Which directors were re-elected to the Matthews International (MATW) Board on February 19, 2026?
What governance changes did Matthews International (MATW) adopt at the 2026 Annual Meeting?
Why is the appointment of J. Michael Nauman significant for Matthews International (MATW) investors?
Did Matthews International (MATW) announce any retirements or departures at the February 19, 2026 meeting?
