Compass Diversified Holdings announces Gordon M. Burns will not seek re-election; Nancy B. Mahon appointed Nominating Committee Chair.
Quiver AI Summary
Compass Diversified Holdings announced that director Gordon M. Burns will not seek re-election at the 2025 annual shareholders meeting due to other commitments, effective January 3, 2025. He will also step down as Chair of the Nominating & Corporate Governance Committee but will remain on the Board and serve on the Nominating Committee and Compensation Committee until the meeting. Nancy B. Mahon has been appointed as the new Chair of the Nominating Committee, bringing her legal expertise and experience in corporate citizenship to the role. CEO Elias Sabo and Board Chair Larry Enterline both praised Burns for his significant contributions over his 15 years on the Board, particularly in capital allocation and governance.
Potential Positives
- Gordon M. Burns, a long-serving director, is stepping down as Chair of the Nominating & Corporate Governance Committee, allowing for new leadership while still remaining on the Board until the 2025 annual shareholders meeting.
- Nancy B. Mahon has been appointed as the new Chair of the Nominating Committee, bringing her expertise in corporate citizenship and sustainability to the role, which may enhance the company’s governance and oversight.
- The transition in leadership is framed positively, with statements emphasizing the Board’s commitment to strengthening and diversifying its governance as it prepares for future developments.
- The company has a strong track record since its IPO in 2006, consistently generating strong returns and maintaining controlling ownership in subsidiaries, highlighting its operational resilience and strategic approach.
Potential Negatives
- Current director Gordon M. Burns stepping down as Chair of the Nominating & Corporate Governance Committee may raise concerns about leadership continuity and potential challenges in governance.
- Mr. Burns' decision not to stand for re-election due to "other commitments" could imply potential instability or distractions within the board, which may affect investor confidence.
FAQ
Who is stepping down from the Compass Diversified Board?
Gordon M. Burns is stepping down from re-election at the 2025 annual shareholders meeting.
Who will replace Gordon M. Burns as Chair of the Nominating Committee?
Nancy B. Mahon has been appointed as the new Chair of the Nominating Committee.
When did Gordon M. Burns join the Compass Diversified Board?
Mr. Burns joined the Board in May of 2008.
What is Nancy B. Mahon's current role at Compass Diversified?
Nancy B. Mahon is currently serving as a director and is the Chief Sustainability Officer at The Estée Lauder Companies, Inc.
What does Compass Diversified Holdings focus on?
Compass Diversified Holdings focuses on owning and managing middle-market businesses in industrial, branded consumer, and healthcare sectors.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CODI Insider Trading Activity
$CODI insiders have traded $CODI stock on the open market 11 times in the past 6 months. Of those trades, 6 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $CODI stock by insiders over the last 6 months:
- MAGYAR HOLDINGS LLC CGI has traded it 5 times. They made 0 purchases and 5 sales, selling 535,274 shares.
- PATRICK A MACIARIELLO purchased 5,000 shares.
- STEPHEN KELLER has traded it 2 times. They made 2 purchases, buying 10,000 shares and 0 sales.
- SIMON HEIDI LOCKE purchased 19,800 shares.
- RYAN J FAULKINGHAM has traded it 2 times. They made 2 purchases, buying 6,250 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CODI Hedge Fund Activity
We have seen 95 institutional investors add shares of $CODI stock to their portfolio, and 86 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 424,668 shares (+8.5%) to their portfolio in Q3 2024
- BLACKROCK, INC. added 401,358 shares (+10.5%) to their portfolio in Q3 2024
- ESSEX FINANCIAL SERVICES, INC. added 207,335 shares (+18.9%) to their portfolio in Q3 2024
- FMR LLC added 151,783 shares (+115.0%) to their portfolio in Q3 2024
- SWEDBANK AB added 149,375 shares (+inf%) to their portfolio in Q3 2024
- ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC added 140,384 shares (+3.4%) to their portfolio in Q3 2024
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 118,036 shares (-23.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
WESTPORT, Conn., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Compass Diversified Holdings (NYSE: CODI), an owner of leading middle market businesses, announced today that current director Gordon M. Burns advised the Board of Directors (the “Board”) on January 3, 2025, he will not be standing for re-election at the Company’s 2025 annual shareholders meeting due to other commitments. Effective as of January 3, 2025, Mr. Burns stepped down as the Chair of the Company’s Nominating & Corporate Governance Committee (the “Nominating Committee”). Mr. Burns will remain on the Company’s Board and as a member of each of the Company’s Nominating Committee and Compensation Committee up and until the Company’s 2025 annual shareholders meeting. Mr. Burns joined the Board in May of 2008.
Elias Sabo, CEO of CODI, commented: “Over the past fifteen years, Gordon has made a meaningful contribution to our Board, particularly with respect to our capital raising and capital allocation efforts. As Chair of the Board’s Nominating Committee, he was integral in identifying and recruiting the diverse and talented individuals that will lead our Board into the future. On behalf of our entire organization, I want to thank Gordon for his years of dedicated service and his many contributions to the Company.”
Effective as of January 3, 2025, current director Nancy B. Mahon has been appointed Chair of the Board’s Nominating Committee, replacing Mr. Burns.
Mahon has served as a director of the Company since May of 2023. She is currently the Chief Sustainability Officer of The Estée Lauder Companies, Inc. She holds a juris doctor degree from the New York University School of Law and is admitted to practice in both state and federal jurisdictions.
Larry Enterline, Board Chair, added: “Over the past two years, we have taken concrete steps to strengthen and diversify our Board as we prepare for the next phase of our development. Nancy, a licensed attorney, with governance expertise, brings over a decade of experience in corporate citizenship, social initiatives, and sustainability practices to her new role as Chair of our Nominating Committee. Together with our other Board members and committee chairs, we believe we are well positioned to continue to provide strong governance and oversight.”
About Compass Diversified (“CODI”)
Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the 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
.
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.
Investor Relations
Compass Diversified
irinquiry@compassdiversified.com
Gateway Group
Cody Slach
949.574.3860
CODI@gateway-grp.com
Media Relations
The IGB Group
Leon Berman
212.477.8438
lberman@igbir.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
