Leadership Transition at Matthews International: CFO Succession
Leadership Change at Matthews International
Matthews International Corporation (NASDAQ: MATW) has recently disclosed that Steven F. Nicola, the current Chief Financial Officer and Treasurer, will retire at the end of the year 2025. With over three decades of exemplary service under his belt, Mr. Nicola has been a cornerstone of the company since he joined in 1992. He assumed the CFO role in 2003 and has been vital in steering the financial trajectory of the company.
Joe Bartolacci, President and CEO of Matthews, expressed deep gratitude for Steve’s unwavering commitment and professional integrity, stating that his influence has been crucial to the company’s growth and success. Bartolacci remarked, "Steve’s leadership and integrity have been instrumental to Matthews’ success. His steady guidance and deep financial expertise have helped shape the Company’s growth and resilience over the years. We thank him for his outstanding contributions and wish him the very best in retirement." This heartfelt acknowledgment signifies the substantial impact Mr. Nicola has made at Matthews International.
Appointment of New CFO
With Mr. Nicola's upcoming retirement, the Board has appointed Daniel E. Stopar as his successor. Taking on the role of Chief Financial Officer and Treasurer starting December 1, 2025, Stopar has been a part of Matthews International since 2013. He brings a wealth of experience in financial, accounting, and reporting processes, having held several key financial positions within the company, including Senior Vice President, Operations Controller, and Head of Global Business Services.
Before his journey at Matthews, Stopar accrued valuable experience in various financial leadership roles at Royal Philips Electronics and Respironics, Inc. His extensive background positions him as an ideal candidate to lead the company’s financial strategy into the future, ensuring continuity as Matthews continues to evolve.
About Matthews International Corporation
Matthews International Corporation operates through two primary business segments: Industrial Technologies and Memorialization. Each segment is geared towards enhancing operational efficiency and fostering long-term growth through continued innovation and strategic expansion. The Industrial Technologies segment, which began from Matthews' original marking business, has positioned itself as a renowned global innovator. It focuses on empowering visionaries to transform industries, showcasing precision technologies and intelligent processes.
The Memorialization segment stands out as a leading supplier of memorial products. This includes a range of offerings such as memorials, caskets, and cremation equipment. Serving primarily cemeteries and funeral homes, Matthews helps families transition from grief to remembrance, showcasing its commitment to compassion and quality. Furthermore, the company has a significant investment in Propelis, a brand solutions venture that emerged from the merger of SGK and SGS & Co. Propelis offers integrated solutions that encompass brand creative, packaging, print solutions, and content production. With over 5,400 dedicated employees across 19 countries on four continents, Matthews International is committed to delivering superior quality products and services.
Company Contact Information
For further inquiries or details, you can reach out to:
Matthews International Corporation
Corporate Office
Two NorthShore Center
Pittsburgh, PA 15212-5851
Phone: 412.442.8200
Frequently Asked Questions
What led to Steve Nicola’s retirement announcement?
Steve Nicola has decided to retire after a long and distinguished career of over thirty years with Matthews International.
When will Daniel E. Stopar assume his role as CFO?
Daniel E. Stopar will officially take over as Chief Financial Officer starting December 1, 2025.
What experience does Daniel E. Stopar bring to his new position?
Daniel has extensive experience in financial leadership, having held multiple significant roles within Matthews and prior companies.
What are the main segments of Matthews International Corporation?
Matthews operates through Industrial Technologies and Memorialization, focusing on innovation and operational efficiency.
Where can I find more information about Matthews International Corporation?
For detailed information, you can contact their corporate office or visit their official website.
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