GAMCO Commends Superior’s Implementing Changes
April 25 2016 - 4:30PM
Business Wire
GAMCO Asset Management Inc. ("GAMCO"), an affiliate of GAMCO
Investors, Inc. (NYSE: GBL), commented on the announcement by
Superior Industries International, Inc. (“Superior” or the
“Company”) (NYSE: SUP) of its preliminary financial results for the
first quarter of 2016.
GAMCO is pleased that its continued drive for improvement at the
Company appears to have bolstered Superior’s management focus on
internal operations. GAMCO believes its focus on capital allocation
at the Company, beginning with the 2013 proxy contest, has been the
catalyst for changes at Superior, including the hiring of Don
Stebbins as CEO. GAMCO continues to firmly believe that the
Company’s Board of Directors (the “Board”) should concentrate on
allocation of capital from internal operations and not “inorganic”
growth.
GAMCO has led a multi-year campaign to improve the Board
composition and operational efficiency at Superior and would like
to thank Superior’s stockholders for their support during its proxy
contest. GAMCO would also like to thank its nominees, Matthew
Goldfarb, F. Jack Liebau, Jr. and Ryan J. Morris. GAMCO, on behalf
of its clients, will continue to rigorously monitor Superior and
its Board.
GAMCO Investors, Inc., through its subsidiaries, manages private
advisory accounts (GAMCO Asset Management Inc.), mutual funds and
closed-end funds (Gabelli Funds, LLC).
SPECIAL NOTE REGARDING FORWARD-LOOKING
INFORMATION
Our disclosure and analysis in this press release may contain
some forward-looking statements. Forward-looking statements give
our current expectations or forecasts of future events. In
particular, these include statements relating to future actions,
future performance and financial results. Although we believe that
we are basing our expectations and beliefs on reasonable
assumptions within the bounds of what we currently know about our
business and operations, there can be no assurance that our actual
results will not differ materially from what we expect or
believe.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160425006484/en/
GAMCO Investors, Inc.George Maldonado, 914-921-7733Director of
Proxy Voting ServicesorFor further information please
visitwww.gabelli.com
Gamco Investors (NYSE:GBL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gamco Investors (NYSE:GBL)
Historical Stock Chart
From Apr 2023 to Apr 2024