Matthews CFO Steven Nicola to Retire, Daniel Stopar to Succeed

Matthews CFO Steven Nicola is retiring after 30 years of service, with Daniel Stopar succeeding him as CFO and treasurer, effective December 1. Stopar joined Matthews in 2013 and has held various executive financial roles, most recently as senior VP, operations controller, and head of global business services. Nicola will retire on December 31.

Matthews International Corporation (NASDAQ: MATW) has announced the retirement of Chief Financial Officer (CFO) and Treasurer Steven F. Nicola, effective December 31, 2025. Nicola, who has been with the company since 1992 and served as CFO since 2003, will be succeeded by Daniel E. Stopar, who will assume the role of CFO and Treasurer effective December 1, 2025 [1].

Nicola's tenure has been marked by his pivotal role in guiding the company's financial strategy, governance, and growth. His leadership and deep financial expertise have significantly contributed to Matthews' success over the years [1]. In a statement, Joe Bartolacci, President and CEO, thanked Nicola for his contributions and wished him well in retirement.

Stopar, who joined Matthews in 2013, brings extensive experience in financial and accounting roles. He has held various executive financial positions, most recently as Senior Vice President, Operations Controller, and Head of Global Business Services. Prior to joining Matthews, Stopar served in several financial leadership roles at Royal Philips Electronics and Respironics, Inc. [1].

Matthews International operates through two core global businesses: Industrial Technologies and Memorialization. The Industrial Technologies segment focuses on precision technologies and intelligent processes, while the Memorialization segment provides products such as memorials, caskets, and cremation equipment to cemetery and funeral home customers. Additionally, Matthews has a significant investment in Propelis, a brand solutions business [2].

The latest analyst rating on MATW stock is a Hold with a $24.00 price target. Spark, TipRanks' AI Analyst, rates MATW as Neutral, reflecting financial challenges such as declining revenues and high leverage, but also noting positive strides in debt reduction [2].

References:
[1] https://www.stocktitan.net/news/MATW/matthews-international-announces-retirement-plans-of-cfo-steven-f-bdzp64lr6zza.html
[2] https://www.tipranks.com/news/company-announcements/matthews-international-announces-cfo-retirement-and-successor