{"success":true,"data":{"pressRelease":{"id":"158122","rtpr_id":"nPnjpqXBa-20261001","ticker":"MATW","exchange":"NASDAQ","all_tickers":["MATW"],"title":"MATTHEWS INTERNATIONAL CORPORATION ANNOUNCES BOARD RIGHT-SIZING SUPPORTED BY TWO LONG-TENURED DIRECTORS","author":"PR Newswire","published_at":"2026-10-01T12:15:00.705Z","article_body":"MATTHEWS INTERNATIONAL CORPORATION ANNOUNCES BOARD RIGHT-SIZING SUPPORTED BY TWO LONG-TENURED DIRECTORS\nPR Newswire\n\nPITTSBURGH, Oct. 1, 2026\n\nPITTSBURGH, Oct. 1, 2026 /PRNewswire/ -- Matthews International Corporation\n(NASDAQ GSM: MATW) (\"Matthews\" and/or the \"Company\") today announced that\nKatherine E. Dietze and Morgan K. O'Brien, each a long-serving member of the\nCompany's Board of Directors (the \"Board\"), have informed the Board that they\nwill not stand for re-election at the Company's 2027 Annual Meeting of\nShareholders (the \"2027 Meeting\"). Their decision reflects their support for\nthe Company's strategic direction, the appointment of Michael J. Whitehead\n(\"Mr. Whitehead\") as the new President & Chief Executive Officer of the\nCompany, and the Board's ongoing governance initiative to reduce its size from\nten to eight directors, creating a more streamlined Board structure to more\nclosely align with Matthews' next phase of growth.\n\nJ. Michael Nauman (\"Mr. Nauman\"), the Company's Chairman of the Board,\ncommented:\n\n\"Katherine and Morgan have, for many years, been trusted advisors whose\nexperience, judgment, and commitment have helped shape Matthews' success. Just\nas importantly, they have demonstrated that same commitment in supporting the\nBoard's ongoing refreshment efforts and the leadership transition currently\nunderway. Their decision to support a smaller, more focused Board reflects the\nthoughtful stewardship, dedication, and long-term perspective that have\ncharacterized their service as Directors, and we are grateful for their\ncontinued confidence in the Company's future.\"\n\nThis step builds on several recent transformational actions initiated by the\nBoard and management team to drive increased shareholder value:\n\n * Since 2023, the Company has refreshed its Board by appointing five new\nDirectors. Such refreshment efforts by the Board have been focused on targeted\nskill sets and professional experience in potential growth areas of Matthews;\n * Beginning in 2024, the Company commenced an extensive strategic initiative\nplan which ultimately resulted in the following divestitures:\n* SGK Brand Solutions into the Propelis joint venture in May 2025;\n * The Company's European packaging business in December 2025; and\n * The Company's warehouse automation business in December 2025.\n * The Company has continued to pursue various strategic and tuck-in acquisitions\nwithin its Memorialization business segment, highlighted by the acquisition of\nThe Dodge Company, Inc., an embalming fluid company, in May 2025;\n * In 2026, the Company adopted various corporate governance enhancements,\nincluding:\n* Board declassification;\n * Adoption of majority voting standards in uncontested elections of directors;\nand\n * Removal of the supermajority vote requirements for the amendment of the\nCompany's Articles of Incorporation.\n * In Fiscal Year 2026, the Company initiated a comprehensive restructuring\neffort of its engineering operations in Europe, generating expected projected\nannual cost-savings of approximately $10 million beginning in Fiscal Year\n2027;\n * Effective at the Company's 2026 annual shareholders meeting, Matthews\nappointed Mr. Nauman as the new Chairman of the Company's Board of Directors;\nand\n * Effective August 31, 2026, the Company appointed Mr. Whitehead as President\nand Chief Executive Officer, succeeding long-time President & Chief\nExecutive Officer Joseph C. Bartolacci.\nUnder the leadership of Mr. Whitehead as Matthews' new President & Chief\nExecutive Officer and Mr. Nauman as Chairman of the Board, the Company has\ncontinued its focus on executing its key strategic priorities related to its\ncore businesses and its most profitable operations. The Company expects to\nprovide additional information regarding these initiatives in the coming\nmonths.\n\nAbout Matthews International Corporation\nMatthews International Corporation operates through two core global businesses\n– Industrial Technologies and Memorialization. Both are focused on driving\noperational efficiency and long-term growth through continuous innovation and\nstrategic expansion. The Industrial Technologies segment evolved from our\noriginal marking business, which today is a leading global innovator committed\nto empowering visionaries to transform industries through the application of\nprecision technologies and intelligent processes. The Memorialization segment\nis a leading provider of memorialization products, including memorials,\ncaskets, and cremation and incineration equipment, primarily to cemetery and\nfuneral home customers that help families move from grief to remembrance. In\naddition, the Company also has a significant investment in Propelis, a brand\nsolutions business formed through the merger of SGK and SGS & Co. Propelis\ndelivers integrated solutions including brand creative, packaging, print\nsolutions, branded environments, and content production. Matthews\nInternational has over 4,300 employees in 15 countries on four continents that\nare committed to delivering the highest quality products and services.\n\nForward-looking Information\nAny forward-looking statements contained in this release are included pursuant\nto the \"safe harbor\" provisions of the Private Securities Litigation Reform\nAct of 1995. These forward-looking statements include, but are not limited to,\nstatements regarding the expectations, hopes, beliefs, intentions or\nstrategies of the Company regarding the future, including statements regarding\nstrategic priorities, cost-savings initiatives, future Board composition, and\nother matters, and may be identified by the use of words such as \"expects,\"\n\"believes,\" \"intends,\" \"projects,\" \"anticipates,\" \"estimates,\" \"plans,\"\n\"seeks,\" \"forecasts,\" \"predicts,\" \"objective,\" \"targets,\" \"potential,\"\n\"outlook,\" \"may,\" \"will,\" \"could\" or the negative of these terms, other\ncomparable terminology and variations thereof. Such forward-looking statements\ninvolve known and unknown risks and uncertainties that may cause the Company's\nactual results in future periods to be materially different from management's\nexpectations, and no assurance can be given that such expectations will prove\ncorrect. Factors that could cause the Company's results to differ materially\nfrom the results discussed in such forward-looking statements principally\ninclude risks to our ability to achieve the anticipated benefits of the joint\nventure transaction with Peninsula Parent LLC, d.b.a. Propelis Group\n(\"Propelis\"), changes in domestic or international economic conditions,\nchanges in foreign currency exchange rates, changes in interest rates, changes\nin the cost of materials used in the manufacture of the Company's products,\nincluding changes in costs due to adjustments to tariffs or supply chain\ndisruptions, any impairment of goodwill or intangible assets, environmental\nliability and limitations on the Company's operations due to environmental\nlaws and regulations, disruptions to certain services, such as\ntelecommunications, network server maintenance, cloud computing or transaction\nprocessing services, provided to the Company by third-parties, changes in\nmortality and cremation rates, changes in product demand or pricing as a\nresult of consolidation in the industries in which the Company operates, or\nother factors such as labor shortages or labor cost increases, changes in\nproduct demand or pricing as a result of domestic or international competitive\npressures, ability to achieve cost-reduction objectives, unknown risks in\nconnection with the Company's acquisitions, divestitures, and business\ncombinations, cybersecurity concerns and costs arising with management of\ncybersecurity threats, effectiveness of the Company's internal controls,\ncompliance with domestic and foreign laws and regulations, technological\nfactors beyond the Company's control, impact of pandemics or similar\noutbreaks, or other disruptions to our industries, customers, or supply\nchains, the impact of global conflicts, such as the current war between Russia\nand Ukraine and hostilities in the Middle East, and conflicts and related\nsanctions or trade restrictions involving Venezuela, the Company's plans and\nexpectations with respect to its exploration, and contemplated execution, of\nvarious strategies with respect to its portfolio of businesses, the Company's\nplans and expectations with respect to its Board, and other factors described\nin the Company's Annual Report on Form 10-K and other periodic filings with\nthe U.S. Securities and Exchange Commission.\n\nThe Company does not incorporate the information contained on, or accessible\nthrough, its corporate website into this press release.\n     Contact:  Daniel E. Stopar\n               Chief Financial Officer\n               and Treasurer\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/matthews-international-corporation-announces-board-right-sizing-supported-by-two-long-tenured-directors-302895498.html\n(https://www.prnewswire.com/news-releases/matthews-international-corporation-announces-board-right-sizing-supported-by-two-long-tenured-directors-302895498.html)\n\nSOURCE Matthews International Corporation\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1750856/Matthews-International-Corporation-Logo.jpg?id=OA2980981\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPnjpqXBa-20261001","title":"MATTHEWS INTERNATIONAL CORPORATION ANNOUNCES BOARD RIGHT-SIZING SUPPORTED BY TWO LONG-TENURED DIRECTORS","author":"PR Newswire","ticker":"MATW","created":"2026-10-01T12:15:00.705Z","tickers":["MATW"],"exchange":"NASDAQ","article_body":"MATTHEWS INTERNATIONAL CORPORATION ANNOUNCES BOARD RIGHT-SIZING SUPPORTED BY TWO LONG-TENURED DIRECTORS\nPR Newswire\n\nPITTSBURGH, Oct. 1, 2026\n\nPITTSBURGH, Oct. 1, 2026 /PRNewswire/ -- Matthews International Corporation\n(NASDAQ GSM: MATW) (\"Matthews\" and/or the \"Company\") today announced that\nKatherine E. Dietze and Morgan K. O'Brien, each a long-serving member of the\nCompany's Board of Directors (the \"Board\"), have informed the Board that they\nwill not stand for re-election at the Company's 2027 Annual Meeting of\nShareholders (the \"2027 Meeting\"). Their decision reflects their support for\nthe Company's strategic direction, the appointment of Michael J. Whitehead\n(\"Mr. Whitehead\") as the new President & Chief Executive Officer of the\nCompany, and the Board's ongoing governance initiative to reduce its size from\nten to eight directors, creating a more streamlined Board structure to more\nclosely align with Matthews' next phase of growth.\n\nJ. Michael Nauman (\"Mr. Nauman\"), the Company's Chairman of the Board,\ncommented:\n\n\"Katherine and Morgan have, for many years, been trusted advisors whose\nexperience, judgment, and commitment have helped shape Matthews' success. Just\nas importantly, they have demonstrated that same commitment in supporting the\nBoard's ongoing refreshment efforts and the leadership transition currently\nunderway. Their decision to support a smaller, more focused Board reflects the\nthoughtful stewardship, dedication, and long-term perspective that have\ncharacterized their service as Directors, and we are grateful for their\ncontinued confidence in the Company's future.\"\n\nThis step builds on several recent transformational actions initiated by the\nBoard and management team to drive increased shareholder value:\n\n * Since 2023, the Company has refreshed its Board by appointing five new\nDirectors. Such refreshment efforts by the Board have been focused on targeted\nskill sets and professional experience in potential growth areas of Matthews;\n * Beginning in 2024, the Company commenced an extensive strategic initiative\nplan which ultimately resulted in the following divestitures:\n* SGK Brand Solutions into the Propelis joint venture in May 2025;\n * The Company's European packaging business in December 2025; and\n * The Company's warehouse automation business in December 2025.\n * The Company has continued to pursue various strategic and tuck-in acquisitions\nwithin its Memorialization business segment, highlighted by the acquisition of\nThe Dodge Company, Inc., an embalming fluid company, in May 2025;\n * In 2026, the Company adopted various corporate governance enhancements,\nincluding:\n* Board declassification;\n * Adoption of majority voting standards in uncontested elections of directors;\nand\n * Removal of the supermajority vote requirements for the amendment of the\nCompany's Articles of Incorporation.\n * In Fiscal Year 2026, the Company initiated a comprehensive restructuring\neffort of its engineering operations in Europe, generating expected projected\nannual cost-savings of approximately $10 million beginning in Fiscal Year\n2027;\n * Effective at the Company's 2026 annual shareholders meeting, Matthews\nappointed Mr. Nauman as the new Chairman of the Company's Board of Directors;\nand\n * Effective August 31, 2026, the Company appointed Mr. Whitehead as President\nand Chief Executive Officer, succeeding long-time President & Chief\nExecutive Officer Joseph C. Bartolacci.\nUnder the leadership of Mr. Whitehead as Matthews' new President & Chief\nExecutive Officer and Mr. Nauman as Chairman of the Board, the Company has\ncontinued its focus on executing its key strategic priorities related to its\ncore businesses and its most profitable operations. The Company expects to\nprovide additional information regarding these initiatives in the coming\nmonths.\n\nAbout Matthews International Corporation\nMatthews International Corporation operates through two core global businesses\n– Industrial Technologies and Memorialization. Both are focused on driving\noperational efficiency and long-term growth through continuous innovation and\nstrategic expansion. The Industrial Technologies segment evolved from our\noriginal marking business, which today is a leading global innovator committed\nto empowering visionaries to transform industries through the application of\nprecision technologies and intelligent processes. The Memorialization segment\nis a leading provider of memorialization products, including memorials,\ncaskets, and cremation and incineration equipment, primarily to cemetery and\nfuneral home customers that help families move from grief to remembrance. In\naddition, the Company also has a significant investment in Propelis, a brand\nsolutions business formed through the merger of SGK and SGS & Co. Propelis\ndelivers integrated solutions including brand creative, packaging, print\nsolutions, branded environments, and content production. Matthews\nInternational has over 4,300 employees in 15 countries on four continents that\nare committed to delivering the highest quality products and services.\n\nForward-looking Information\nAny forward-looking statements contained in this release are included pursuant\nto the \"safe harbor\" provisions of the Private Securities Litigation Reform\nAct of 1995. These forward-looking statements include, but are not limited to,\nstatements regarding the expectations, hopes, beliefs, intentions or\nstrategies of the Company regarding the future, including statements regarding\nstrategic priorities, cost-savings initiatives, future Board composition, and\nother matters, and may be identified by the use of words such as \"expects,\"\n\"believes,\" \"intends,\" \"projects,\" \"anticipates,\" \"estimates,\" \"plans,\"\n\"seeks,\" \"forecasts,\" \"predicts,\" \"objective,\" \"targets,\" \"potential,\"\n\"outlook,\" \"may,\" \"will,\" \"could\" or the negative of these terms, other\ncomparable terminology and variations thereof. Such forward-looking statements\ninvolve known and unknown risks and uncertainties that may cause the Company's\nactual results in future periods to be materially different from management's\nexpectations, and no assurance can be given that such expectations will prove\ncorrect. Factors that could cause the Company's results to differ materially\nfrom the results discussed in such forward-looking statements principally\ninclude risks to our ability to achieve the anticipated benefits of the joint\nventure transaction with Peninsula Parent LLC, d.b.a. Propelis Group\n(\"Propelis\"), changes in domestic or international economic conditions,\nchanges in foreign currency exchange rates, changes in interest rates, changes\nin the cost of materials used in the manufacture of the Company's products,\nincluding changes in costs due to adjustments to tariffs or supply chain\ndisruptions, any impairment of goodwill or intangible assets, environmental\nliability and limitations on the Company's operations due to environmental\nlaws and regulations, disruptions to certain services, such as\ntelecommunications, network server maintenance, cloud computing or transaction\nprocessing services, provided to the Company by third-parties, changes in\nmortality and cremation rates, changes in product demand or pricing as a\nresult of consolidation in the industries in which the Company operates, or\nother factors such as labor shortages or labor cost increases, changes in\nproduct demand or pricing as a result of domestic or international competitive\npressures, ability to achieve cost-reduction objectives, unknown risks in\nconnection with the Company's acquisitions, divestitures, and business\ncombinations, cybersecurity concerns and costs arising with management of\ncybersecurity threats, effectiveness of the Company's internal controls,\ncompliance with domestic and foreign laws and regulations, technological\nfactors beyond the Company's control, impact of pandemics or similar\noutbreaks, or other disruptions to our industries, customers, or supply\nchains, the impact of global conflicts, such as the current war between Russia\nand Ukraine and hostilities in the Middle East, and conflicts and related\nsanctions or trade restrictions involving Venezuela, the Company's plans and\nexpectations with respect to its exploration, and contemplated execution, of\nvarious strategies with respect to its portfolio of businesses, the Company's\nplans and expectations with respect to its Board, and other factors described\nin the Company's Annual Report on Form 10-K and other periodic filings with\nthe U.S. Securities and Exchange Commission.\n\nThe Company does not incorporate the information contained on, or accessible\nthrough, its corporate website into this press release.\n     Contact:  Daniel E. Stopar\n               Chief Financial Officer\n               and Treasurer\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/matthews-international-corporation-announces-board-right-sizing-supported-by-two-long-tenured-directors-302895498.html\n(https://www.prnewswire.com/news-releases/matthews-international-corporation-announces-board-right-sizing-supported-by-two-long-tenured-directors-302895498.html)\n\nSOURCE Matthews International Corporation\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1750856/Matthews-International-Corporation-Logo.jpg?id=OA2980981\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-10-01T12:15:00.743885061Z","server_sent_at_ms":1790856900743},"received_at":"2026-10-01T12:15:00.793Z","source_url":"https://www.prnewswire.com/news-releases/matthews-international-corporation-announces-board-right-sizing-supported-by-two-long-tenured-directors-302895498.html"},"analysis":{"id":"146767","press_release_id":"158122","analysis_json":{"industry":{"label":"Commercial Services & Supplies","sector":"Industrials"},"redFlags":[],"eventType":"board_change","narrative":"Matthews International announced that long-serving directors Katherine E. Dietze and Morgan K. O'Brien will not stand for re-election at the 2027 annual meeting, reducing the board from ten to eight seats.\n\nThe move supports the company's ongoing governance refresh, the recent appointment of Michael J. Whitehead as President & CEO, and broader transformation efforts including the Propelis joint venture, 2025 divestitures of the European packaging and warehouse automation businesses, and a European engineering restructuring targeting roughly $10 million in annual savings from FY2027.\n\nThe release frames the departures as voluntary and supportive of strategy; no financial guidance changed, making this a routine governance update rather than a signal of internal conflict.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Board right-sizing to eight seats continues governance refresh under new CEO Whitehead — low-signal unless further board turnover follows."},"keyFigures":{"customDimensions":{"board_size_target":8,"board_size_current":10,"new_directors_since_2023":5,"europe_restructuring_savings":"$10 million","directors_not_standing_for_reelection":2}},"quotedText":"Their decision reflects their support for the Company's strategic direction, the appointment of Michael J. Whitehead (\"Mr. Whitehead\") as the new President & Chief Executive Officer of the Company, and the Board's ongoing governance initiative to reduce its size from ten to eight directors","namedEntities":{"people":[{"name":"Katherine E. Dietze","role":"Director (not standing for re-election)"},{"name":"Morgan K. O'Brien","role":"Director (not standing for re-election)"},{"name":"J. Michael Nauman","role":"Chairman of the Board"},{"name":"Michael J. Whitehead","role":"President & CEO"},{"name":"Joseph C. Bartolacci","role":"former President & CEO"},{"name":"Daniel E. Stopar","role":"CFO and Treasurer"}],"products":["SGK Brand Solutions"],"companies":[{"name":"Matthews International Corporation","ticker":"MATW","relationship":"filer"},{"name":"Propelis","relationship":"joint venture / equity investment"},{"name":"The Dodge Company, Inc.","relationship":"acquired business"}],"dollarAmounts":[{"amount":"$10 million","context":"expected annual cost savings from European engineering restructuring beginning FY2027"}]},"materialImpact":{"score":2,"reasoning":"Two long-tenured directors will not stand for re-election as part of a planned board right-sizing from ten to eight seats. It is a governance housekeeping event following an already-announced CEO transition, with no change to strategy or financials."},"tickerRelevance":{"others":[],"primary":"MATW"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"planned-board-reduction","issuerAuthored":true,"consumerBrandBoost":false}},"event_type":"board_change","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"Matthews International announced that long-serving directors Katherine E. Dietze and Morgan K. O'Brien will not stand for re-election at the 2027 annual meeting, reducing the board from ten to eight seats.\n\nThe move supports the company's ongoing governance refresh, the recent appointment of Michael J. Whitehead as President & CEO, and broader transformation efforts including the Propelis joint venture, 2025 divestitures of the European packaging and warehouse automation businesses, and a European engineering restructuring targeting roughly $10 million in annual savings from FY2027.\n\nThe release frames the departures as voluntary and supportive of strategy; no financial guidance changed, making this a routine governance update rather than a signal of internal conflict.","key_figures":{"customDimensions":{"board_size_target":8,"board_size_current":10,"new_directors_since_2023":5,"europe_restructuring_savings":"$10 million","directors_not_standing_for_reelection":2}},"named_entities":{"people":[{"name":"Katherine E. Dietze","role":"Director (not standing for re-election)"},{"name":"Morgan K. O'Brien","role":"Director (not standing for re-election)"},{"name":"J. Michael Nauman","role":"Chairman of the Board"},{"name":"Michael J. Whitehead","role":"President & CEO"},{"name":"Joseph C. Bartolacci","role":"former President & CEO"},{"name":"Daniel E. Stopar","role":"CFO and Treasurer"}],"products":["SGK Brand Solutions"],"companies":[{"name":"Matthews International Corporation","ticker":"MATW","relationship":"filer"},{"name":"Propelis","relationship":"joint venture / equity investment"},{"name":"The Dodge Company, Inc.","relationship":"acquired business"}],"dollarAmounts":[{"amount":"$10 million","context":"expected annual cost savings from European engineering restructuring beginning FY2027"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-01T12:15:07.342Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"small-cap","eventGravity":"planned-board-reduction","issuerAuthored":true,"consumerBrandBoost":false}},"durationMs":6516,"modelName":"glm-5.3-flashx"}}