Beaver Hollow Wellness Files Definitive Proxy Statement
Sends Letter to Servotronics, Inc. Shareholders Highlighting Material Underperformance
On May 2, 2025, Beaver Hollow Wellness issued the following press release and letter:
Beaver Hollow Wellness Files Definitive Proxy Statement and Sends Letter to Servotronics, Inc. Shareholders Highlighting Material Underperformance, Misguided Capital Allocation Strategy and Loss of Shareholder Value
Nominates Four Highly Qualified Director Nominees – Paul L. Snyder III, Christine R. Marlow, Michael W. Dolpp and Charles C. Alfiero – to Servotronics' Board of Directors
Incumbent Directors Who Failed to Maximize Shareholder Value Over Many Years Should Not be Entrusted to Manage Company's Review of Strategic Alternatives
Beaver Hollow Wellness Has Identified Four Deeply Experienced and Qualified Nominees to Unlock Servotronics' Full Potential
Urges Shareholders to Vote the WHITE Proxy Card "FOR" Beaver Hollow Wellness' Four Highly Qualified Director Nominees and "WITHHOLD" on all Company Nominees except for Karen L. Howard
BUFFALO, N.Y., May 2, 2025 /PRNewswire/ -- Today, Beaver Hollow Wellness ("BHW"), the largest shareholder of Servotronics, Inc. (NYSE:SVT), owning 15.2% of the outstanding shares announced the filing of its Definitive Proxy Statement, seeking to elect a highly qualified slate of director nominees at the upcoming Annual Meeting scheduled for June 3, 2025.
More information about BHW's nominees can be found at https://saveservotronics.com.
In connection with its definitive proxy filing, BHW today also sent the following letter to Servotronics shareholders:
Dear Fellow Servotronics Shareholders,
The filing of our definitive proxy statement marks a critical step in our effort to restore transparency, performance, and integrity at Servotronics, Inc. ("Servotronics" or the "Company"). Shareholders now face a clear choice: continue with a board that has presided over years of declining shareholder value and embarrassing mismanagement, or vote to SAVE Servotronics by bringing in a new, expert leadership team with a plan to unlock the Company's full potential.
We urge you to vote FOR the election of Paul L. Snyder III, Christine R. Marlow, Michael W. Dolpp and Charles C. Alfiero on the WHITE proxy card to change the trajectory of the Company.
The current board's failures are evident in the company's declining financial health, deteriorating operating margins, and the persistent erosion of shareholder value. While executive compensation has remained unjustifiably high, long-term shareholders have seen their investment value steadily decline. These are not mere setbacks. They instead reflect a systemic breakdown in the board's fiduciary duties, oversight responsibilities and executive leadership.
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Even more concerning, the board has embedded "Golden Parachute" provisions into key contracts and agreements that could trigger lucrative payouts and protections for insiders simply because shareholders elect new directors. This is nothing more than an anti-shareholder governance designed to intimidate and entrench. These provisions, as described in their own filings do not protect the company or its shareholders—they merely shield the incumbents.
Most alarmingly, as detailed in the company's announcement of a so-called "Review of Strategic Alternatives," the incumbent board has effectively abandoned its responsibilities to repair the extensive damage they have inflicted on Servotronics and its Shareholders. Pursuing a sale process at a time when the company's operations are distressed — and without any meaningful engagement with shareholders — underscores their disregard for Servotronics' long-term future. The fact that the board has failed to provide an update on this critical process before convening the 2025 Annual Meeting demonstrates a clear lack of concern and respect for proper corporate governance, their shareholders, employees, customers and other constituents.
How can shareholders reasonably entrust this board—whose mishandling of the Ontario Knife divestiture resulted in a value-destructive outcome—with executing a strategic review process in what could be the most pivotal decision in Servotronics' history?
Our proposed nominees bring world-class expertise in manufacturing, finance, strategic turnarounds, and governance. Each is committed to serving all shareholders and restoring Servotronics to operational and financial strength.
Shareholders and Employees can review our strategic plan at https://saveservotronics.com.
This campaign is about revitalization, not disruption. We are calling on shareholders to vote the WHITE proxy card FOR Paul L. Snyder III, Christine R. Marlow, Michael W. Dolpp and Charles C. Alfiero to begin a new chapter of growth, transparency, and accountability at Servotronics.
If you have any questions or require any assistance with your vote, please contact the Alliance Advisors, LLC, which is assisting us, at [email protected] or calling toll-free (844) 202-6145.
Thank you very much for your support.
Sincerely,
Paul L. Snyder III
Beaver Hollow Wellness, LLC
Media Contact
Kevin Keenan
Keenan Communications Group
(716) 481-6806
[email protected]
Investor Contact
Alliance Advisors
200 Broadacres Drive, 3rd Floor
Bloomfield, NJ 07003
[email protected]
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SOURCE Beaver Hollow Wellness