Compass Diversified Holdings (NYSE: CODI), an owner of leading
middle market businesses, announced today that its Board of
Directors (the “Board”) has nominated a new director candidate for
election at CODI’s 2023 Annual Meeting of Shareholders to be held
on May 25, 2023.
Ms. Nancy B. Mahon will join seven current directors standing
for re-election at the 2023 annual meeting. If elected by the
Company’s shareholders, Mahon is expected to be designated as a
member of the Board’s Nominating and Corporate Governance
Committee.
Mahon has worked for Estée Lauder Companies, Inc. for more than
17 years, most recently serving as Chief Sustainability Officer.
She also serves on the Global Executive Leadership Team for Estée
Lauder where she is responsible for strategy, governance,
operations and communications of environmental, social and
governance (ESG) matters. Mahon earned a bachelor’s degree from
Yale University and her law degree from NYU School of Law.
“We are thrilled to nominate Ms. Mahon to CODI’s Board of
Directors,” said CODI Board Chair Larry Enterline. “She is a proven
executive business leader who has demonstrated expertise in ESG
issues, branded consumer products and enterprise strategy. If
elected by the shareholders, we look forward to benefiting from her
unique skills and extensive experience.”
Current Director Sarah G. McCoy (“Sally”) has advised the Board
she will not be standing for re-election due to other commitments.
McCoy will remain on the Company’s Board up and until the 2023
annual meeting.
Elias Sabo, CEO of CODI, commented: “Over the past six years,
Sally has brought tremendous insight to our Board, particularly
with respect to business issues unique to consumer products
companies. She has been a trusted advisor on matters related to our
strategy and operations, as well as other critical emerging issues
such as corporate citizenship and sustainability. On behalf of our
entire organization, I want to thank Ms. McCoy for her many
contributions and wish her continued success in the future.”
In addition, current director Teri R. Shaffer has been appointed
Chair of the Board’s Audit Committee, effective April 1, 2023,
replacing Mr. James J. Bottiglieri, who is retiring from this
position as of the same date. Bottiglieri will continue to serve as
a director and as a member of the Audit Committee.
Shaffer has served as a director of the Company since July of
2022. Prior to joining the Board, she was an audit information
technology leader for Ernst & Young from 2016 to 2022 and
served in various other leadership roles at Ernst & Young since
1984. Shaffer is a certified public accountant and certified
information security manager, holding the CERT Cybersecurity
Governance Certification from Carnegie Mellon.
About Compass Diversified
Since its founding in 1998, CODI has
consistently executed on its strategy of owning and managing a
diverse set of highly defensible, middle-market businesses across
the niche industrial, branded consumer and healthcare sectors. The
Company leverages its permanent capital base, long-term disciplined
approach, and actionable expertise to maintain controlling
ownership interests in each of its subsidiaries, maximizing its
ability to impact long-term cash flow generation and value
creation. The Company provides both debt and equity capital for its
subsidiaries, contributing to their financial and operating
flexibility. CODI utilizes the cash flows generated by its
subsidiaries to invest in the long-term growth of the Company and
has consistently generated strong returns through its culture of
transparency, alignment and accountability. For more information,
please visit compassdiversified.com (provided that the reference to
such additional information is provided for convenience and the
information contained on such website is not incorporated by
reference into this press release).
Forward Looking Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
with regard to the expectations related to the future performance
of CODI. Words such as "believes," "expects," “will,”
“anticipates,” “intends,” “continue,” "projects," “potential,”
“assuming,” and "future" or similar expressions, are intended to
identify forward-looking statements. These forward-looking
statements are subject to the inherent uncertainties in predicting
future results and conditions, some of which are not currently
known to CODI. In addition to factors previously disclosed in
CODI’s reports filed with the SEC, the following factors, among
others, could cause actual results to differ materially from
forward-looking statements: changes in the economy, financial
markets and political environment; risks associated with possible
disruption in CODI’s operations or the economy generally due to
terrorism, natural disasters, social, civil and political unrest or
the COVID-19 pandemic; future changes in laws or regulations
(including the interpretation of these laws and regulations by
regulatory authorities); general considerations associated with the
COVID-19 pandemic and its impact on the markets in which we
operate; and other considerations that may be disclosed from time
to time in CODI’s publicly disseminated documents and filings.
Further information regarding CODI and factors which could affect
the forward-looking statements contained herein can be found in
CODI’s annual reports on Form 10-K, quarterly reports on Form 10-Q
and current reports on Form 8-K. Forward-looking statements speak
only as of the date they are made. Except as required by law, CODI
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Important Additional Information
CODI, its directors and certain of its executive officers may be
deemed to be participants in the solicitation of proxies from
CODI’s shareholders in connection with CODI’s 2023 Annual Meeting.
Information regarding the names of CODI’s directors and executive
officers is set forth in CODI’s proxy statement for the 2022 annual
meeting of CODI’s shareholders filed with the U.S. Securities and
Exchange Commission (the “SEC”) on April 12, 2022 and, with respect
to directors and executive officers appointed following such date,
in certain of CODI’s other filings made with the SEC subsequent to
the date of such proxy statement. Other information regarding the
participants in the proxy solicitation and a description of their
direct and indirect interests, by security holdings or otherwise,
will be contained in the proxy statement and other related
materials (if any) in connection with CODI’s 2023 Annual Meeting to
be filed with the SEC when they become available.
CODI intends to file a definitive proxy statement and proxy card
and other related materials with the SEC in connection with the
solicitation of proxies. CODI SHAREHOLDERS AND OTHER INVESTORS ARE
STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT (INCLUDING ANY
AMENDMENTS AND SUPPLEMENTS) AND PROXY CARD AND SUCH OTHER RELATED
MATERIALS WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT
INFORMATION.
These documents, including any proxy statement (and amendments
or supplements thereto) and other related materials filed by CODI
with the SEC, will be available for no charge at the SEC’s website
at www.sec.gov and at CODI’s website at
www.compassdiversified.com under the caption “CODI Investor
Relations — Financials & SEC Filings”. Copies may also be
obtained by contacting CODI by mail at 301 Riverside Avenue, Second
Floor, Westport, Connecticut 06880, Attention: Investor Relations
or by telephone at 203-221-1703.
Investor Relations
Compass Diversifiedirinquiry@compassdiversified.com
Gateway GroupCody Slach949.574.3860CODI@gatewayir.com
Media Relations
The IGB GroupLeon Berman212.477.8438lberman@igbir.com
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