Leadership Transition at Matthews International Corporation
Matthews International Corporation (NASDAQ: MATW) has announced a significant leadership transition as Chief Financial Officer (CFO) Steven F. Nicola plans to retire at the end of 2025 after over three decades of dedicated service. His departure marks the end of a notable chapter for the company, during which he has played a vital role in shaping its financial strategy and governance.
Steven F. Nicola's Remarkable Career
Steven F. Nicola joined Matthews in 1992 and has been instrumental in the company's financial oversight since being appointed CFO in 2003. His leadership has led Matthews through various challenges, contributing to its growth and resilience over the years. President and CEO Joe Bartolacci expressed gratitude for Nicola's contributions, highlighting his steadfast guidance and financial expertise.
Appointment of Daniel E. Stopar
With Mr. Nicola's retirement, Matthews has identified Daniel E. Stopar as the successor to the CFO role, effective December 1, 2025. Stopar, who joined Matthews in 2013, brings a wealth of experience in financial operations, having previously held positions such as Senior Vice President and Operations Controller. His extensive background in financial leadership includes notable roles with Royal Philips Electronics and Respironics, Inc.
Matthews International's Core Operations
Matthews International operates through two main business segments: Industrial Technologies and Memorialization. The Industrial Technologies division is committed to operational efficiency and technological innovation, aiming to empower industry visionaries with precision tools. Conversely, the Memorialization segment is a trusted provider of memorial products, including memorials and cremation equipment, helping families navigate their grief.
Company Growth and Expansion
As Matthews International looks towards the future under new financial leadership, the company remains focused on strategic growth through continuous innovation. Recently, Matthews has expanded its offerings and solidified its position in the marketplace, driven by a commitment to high-quality products and services.
Investments and New Ventures
In addition to its core business segments, Matthews has a significant investment in Propelis, a brand solutions enterprise that arose from the merger of SGK and SGS & Co. Propelis provides integrated solutions for brand development, packaging, print services, and content production.
Committed Workforce
Matthews International proudly employs over 5,400 individuals across 19 countries, all dedicated to delivering high standards in product excellence. As the company navigates through this leadership change, the commitment of its workforce remains unwavering.
Contact Information
For more information about Matthews International Corporation, please reach out to:
Matthews International Corporation
Corporate Office
Two NorthShore Center
Pittsburgh, PA 15212-5851
Phone: 412.442.8200
Frequently Asked Questions
What prompted Steven F. Nicola's retirement?
Steven F. Nicola has decided to retire after more than three decades with Matthews International, concluding a significant chapter in his career.
Who will be the new CFO of Matthews International?
Daniel E. Stopar has been appointed as the new CFO, taking over the position when Mr. Nicola retires in December 2025.
What are the main business segments of Matthews International?
The company operates primarily through Industrial Technologies and Memorialization, focusing on operational efficiency and innovation.
How long has Daniel E. Stopar been with Matthews International?
Daniel E. Stopar joined Matthews in 2013, bringing extensive experience in various financial leadership roles within the company.
What is Propelis?
Propelis is a brand solutions business formed by the merger of SGK and SGS & Co, offering services in brand creativity, packaging, and content production.
