Matthews International Corporation elected J. Michael Nauman as Chairman of the Board at its 2026 Annual Meeting, replacing Alvaro Garcia‑Tunon.
Nauman joined the board in February 2025 and brings more than 35 years of commercial, strategic and financial experience, having served as President, CEO and Director of Brady Corporation and previously held senior roles at Molex Incorporated and Arthur Andersen & Co.
The election coincides with amendments to the company’s Articles of Incorporation that declassify the board over a three‑year period beginning with the 2028 annual meeting, adopt a majority‑of‑votes‑cast standard for uncontested director elections, and eliminate certain supermajority voting requirements. The changes are intended to strengthen governance as the company continues to reposition its portfolio toward industrial technology and memorialization.
Matthews reported Q1 fiscal 2026 results that missed analyst expectations. Net income was $43.6 million, or $1.39 per share, but the actual earnings per share were –$0.19 versus a consensus estimate of $0.23. Revenue fell to $285 million from $402 million a year earlier, a decline of 29%. The trailing‑twelve‑month revenue of $1,380.61 million reflects a three‑year growth rate of –5%, an operating margin of –0.08% and a net margin of 1.64%.
In a statement, President and CEO Joe Bartolacci said, “Michael brings incredible technical expertise, M&A experience, and leadership abilities that will benefit the Company as we continue repositioning Matthews.” Chairman Nauman added, “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.” Outgoing Chairman Alvaro Garcia‑Tunon noted, “Michael has been a highly engaged director since joining the Board earlier this year.”
The leadership change and governance amendments signal the company’s intent to accelerate its strategic transformation while addressing recent financial headwinds. The Q1 earnings miss underscores the need for disciplined cost management and a stronger revenue mix, while the board’s renewed focus on industrial technology and memorialization aims to create higher‑margin growth opportunities. Investors will watch how the new chairman’s experience in M&A and operational execution translates into improved profitability and shareholder value over the coming years.
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