Matthews International Corp. announced on Oct. 1 that Katherine E. Dietze and Morgan K. O’Brien, each a long-serving member of the company’s board of directors, have informed the board that they will not stand for re-election at the company’s 2027 Annual Meeting of Shareholders.
Their decision reflects their support for the company’s strategic direction, the appointment of Michael J. Whitehead as the new president and chief executive officer of the company, and the board’s ongoing governance initiative to reduce its size from ten to eight directors, creating a more streamlined board structure to more closely align with Matthews’ next phase of growth.
J. Michael Nauman, the company’s chairman of the board, commented:
“Katherine and Morgan have, for many years, been trusted advisers whose experience, judgment, and commitment have helped shape Matthews’ success. Just as importantly, they have demonstrated that same commitment in supporting the board’s ongoing refreshment efforts and the leadership transition currently underway. Their decision to support a smaller, more focused board reflects the thoughtful stewardship, dedication, and long-term perspective that have characterized their service as Directors, and we are grateful for their continued confidence in the Company’s future.”
This step builds on several recent transformational actions initiated by the board and management team to drive increased shareholder value:
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Since 2023, the company has refreshed its board by appointing five new directors. Such refreshment efforts by the board have been focused on targeted skill sets and professional experience in potential growth areas of Matthews;
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Beginning in 2024, the company commenced an extensive strategic initiative plan which ultimately resulted in the following divestitures:
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SGK Brand Solutions into the Propelis joint venture in May 2025;
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The company’s European packaging business in December 2025; and
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The company’s warehouse automation business in December 2025.
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The company has continued to pursue various strategic and tuck-in acquisitions within its Memorialization business segment, highlighted by the acquisition of The Dodge Company, Inc., an embalming fluid company, in May 2025;
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In 2026, the company adopted various corporate governance enhancements, including:
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Board declassification;
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Adoption of majority voting standards in uncontested elections of directors; and
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Removal of the supermajority vote requirements for the amendment of the company’s Articles of Incorporation.
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In fiscal year 2026, the company initiated a comprehensive restructuring effort of its engineering operations in Europe, generating expected projected annual cost-savings of approximately $10 million beginning in fiscal year 2027;
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Effective at the company’s 2026 annual shareholders meeting, Matthews appointed Nauman as the new chairman of the company’s board of directors; and
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Effective August 31, 2026, the company appointed Whitehead as president and chief executive officer, succeeding longtime president and chief executive officer, Joseph C. Bartolacci.
Under the leadership of Whitehead as Matthews’ new president and chief executive officer and Nauman as chairman of the board, the company has continued its focus on executing its key strategic priorities related to its core businesses and its most profitable operations. The company expects to provide additional information regarding these initiatives in the coming months.
