WM Argyle Urges Broadwind Stockholders to Reject Flawed Analysis by Proxy Advisors
May 16, 2023 at 01:50 am IST
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On May 15, 2023, WM Argyle Fund, LLC urged stockholders to reject the recommendations of proxy advisors ISS and Glass Lewis concerning the election of Broadwind's Board of Directors. WM Argyle stated that stockholders should make their own considered judgment and not blindly follow the proxy advisors' narrow, formulaic, and management-biased approach. In addition, WM Argyle urged stockholders to vote for its 3 candidates for the Board: Ryan Bogenschneider, Christine Candela and James Robinson IV and to WITHHOLD their votes on the 3 opposed directors: David P. Reiland, Thomas A. Wagner and Cary B. Wood - who are most responsible for the Company's years-long underperformance.
Broadwind Inc. is a precision manufacturer of structures, equipment and components for clean tech and other specialized applications. The Company operates through three segments: Heavy Fabrications, Gearing, and Industrial Solutions. The Heavy Fabrications segment provides large, complex and precision fabrications to customers in a broad range of industrial markets. The Gearing segment provides gearing and gearboxes to a set of customers in diverse markets, including onshore and offshore oil and gas, fracking and drilling, surface and underground mining, wind energy, steel, material handling, infrastructure, marine and other industrial markets. It also provides gearbox repair services. Industrial Solutions provides supply chain solutions, light fabrication, inventory management, kitting, and assembly services, primarily serving the combined cycle natural gas turbine market. It also provides packaging solutions and fabricates panels and sub-assemblies.
BROADWIND, INC. 
