WESTPORT, Conn., May 27,
2015 /PRNewswire/ -- North Star Partners and its affiliates, owner
of 850,496 shares of Checkpoint Systems, Inc. (NYSE: CKP) today
announced that leading independent proxy voting and corporate
governance advisory firm ISS Proxy Advisory Services has
recommended that Checkpoint Systems stockholders vote against the
proposal to ratify executive compensation in connection with
Checkpoint's June 3, 2015 Annual
Meeting of Stockholders. Among the many issues ISS noted was
the lack of alignment of pay and performance, with Checkpoint
Systems utilizing above-median benchmarking executive pay levels
despite negative total shareholder returns. ISS also issued
to Checkpoint Systems a corporate governance "QuickScore" of 10,
which represents the highest level of risk regarding corporate
governance in its ranking system.
North Star has repeatedly been rebuffed by Checkpoint Systems in
its attempts to convince its Board of Directors to institute
pro-shareholder initiatives such as de-staggering the Board and
adding shareholder nominated directors to the Board. North
Star supports ISS position on executive compensation and strongly
urges shareholders to withhold their votes for Checkpoint Systems'
director nominees, to send a message that shareholders want change
now. Only by changing the composition of the Board does North
Star believe that shareholders can hope to see a reversal of the
poor record Checkpoint Systems has delivered over the past 10
years.
We urge shareholders to "Withhold" their votes from George Babich, Jr. and Julie S. England on the Checkpoint Systems'
proxy card. This is not a solicitation of authority to vote your
proxy. Do NOT send North Star Partners your proxy card as it will
not be accepted.
North Star has neither sought nor obtained consent from
Institutional Shareholder Services Inc. to use any previously
published information or quotes in this press release.
CONTACT: Andrew Jones,
1-203-2279898, ajones@northstarlp.com
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SOURCE North Star Partners