TriMas (TRS) is again being urged by an activist investor to explore its strategic alternatives, this time after this week saying chief executive Thomas Amato would step down once a successor is found and takes the helm at the aerospace, industrial and packaging materials company.
In a letter to the TriMas board released Friday, Barrington Capital Group said Amato's upcoming departure would be an "optimal time" to consider selling the company either in pieces or as a single entity rather than merely bringing in a new CEO.
"Hiring a new CEO will inevitably lead to another prolonged cycle of strategic reviews and operating improvement initiatives as the new CEO acclimates to the role," Barrington chairman and CEO James Mitaroltonda wrote, later stating TriMas shareholders have gone through that process before "with limited value to show for it."
Barrington, which it said owns about 1.5% of TriMas' outstanding shares, first approached the company in December 2023 with a multi-point action plan, advocating for the sale of its Arrow Engine unit along with other suggestions to improve the business and its performance. By late July, Barrington was calling for TriMas to spin off its aerospace operations or find a buyer for the entire company.
TriMas did not immediately respond to a request from MT Newswires on Friday seeking comment.
Price: 22.85, Change: -0.28, Percent Change: -1.19
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。