Myers Industries, Inc. · NYSE:MYE
Myers Industries — Proxy Contest (April 2012)
22 slides from Myers Industries's proxy contest presentation, Apr 2, 2012
Slide 1: Schedule 14A Proxy Statement - Myers Industries, Inc.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (RULE 14A-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant x Filed by a Party other than
Slide 2: Filing fee and previous filing details
(1) Amount previously paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed:
Slide 3: Strong Foundation. Strengthened Results. Investor Presentation April 2012
Strong Strengthened Investor ResultsStrong April Presentation 2012 Foundation. Results.
Slide 4: Highlights: strong results, TSR and governance
8% Financial strong Recently Completed GAMCO Consistent dividend Share Compensation Capital corporate position 1-year named has price strategic aincrease spending two strategic Approximately not Highly Strong, TSR appreciated governance one Balanced remains million Reduced proposed policies directio
Slide 5: Company at a Glance
products Diversified Lawn andMaterial Headquartered wholesale international & COMPANY Founded Garden NYSE: Handling segments: distributor Engineered in3manufacturer in 193_ at MYE Akron, aDistribution Glance 1933 thatProducts Ohio operates of polymer in four
Slide 6: Business segments
Business segments
Slide 7: Strategic Principles: Maintain, Generate, Build
Maintain Generate Build Make and Deliver Structure Build productivitMaintain _Ensure industry Myers’ Lead next-generation strong and the our Utilize maintain process Our training organization leading financial Market industries Maintain Key Strategic Ensure “Voice Operations Customer Management for
Slide 8: Our Financial Goals
Balanced Target Generate Achieve Maintain returning Produce approach a 5%returns organic reduction strong strong cash Our to capital above growth Goals 6financial tofree inshareholders COGS cost-of-capital allocation cash > 1.5x position flow each GDP including year
Slide 9: 2011 Financial Highlights
*Adjusted adjustments Cash $14 3% Adjusted of savings Gross Spent Dividend $71.3M of million flow 2011 new total million 41% margin EPS $21 were net to related points Adjusted from financial products/solutions sales and of was $23.4 to million 2010 for SaleSales income shares generated $755.7 $737.6
Slide 10: Our balanced approach to capital allocation
Our balancedRepurchasCapital approach to Growth Return Improvements Development Expenditures New Maintain Acquisitions Shareholder Repurchase Stakeholders Dividends Reduction Business Working Training Organic Process Bolt-on Capital Safety Grow Value Share Debt Product 8Capital Capital tothe capital
Slide 11: Returning cash to shareholders
2) In 2007 there was an additional 1) special 1999 Above2000 dividend adjusted 2001 Two 1Q Spent of Dividend for 2002 2012 $0.28 million First Reduced $0.17 stock $21 2003 Returning Dividends quarterly repurchase or Debt-to-Capital paid $0.18 million share dividends $9.9M Leverage 2004 debt each $0.
Slide 12: Effective corporate governance changes
Effective Eliminated Consider Eliminated Stock June Broad and the Separate 1,ownership All CEO’s evaluate range 2011, solid Director Eliminated directors single-trigger corporate of roles the No employment agreement all expertise guidelines qualified following resignation poison shareholder of stand
Slide 13: Myers Board composition and new directors
Myers overseeing 5The of Industries the Board’s 9a solid directors has composition additional Committed strategic extremely Banking have 2011: Mergers Polymer Finance 2007: Industrial 2011: Investment 2010: Sales Strategic 2009: Risk shareholder plan joined Distribution Robert includes &and experien
Slide 14: Profile of current Board directors
Expertise President Expertise Expertise Senior-level Expertise Chief Director, Former in &Executive in polymers, Former Chief inChairman packaging FirstEnergy in finance, leadership Chairman Former Retired operations, Robert Operating Vincent Sarah William John Chief Officer lawn management, of B. C
Slide 15: Profile of current Board directors (continued)
Profile Current Director Expertise Former ofExpertise current Expertise Chairman and Chairman in President board polymer operations, member President Robert in Managing Edward manufacturing, inJohn of of polymers, of and A. the directors manufacturing, Administration of W. C. the and Stefanko Direct
Slide 16: Background: GAMCO nominations and Board response
Upon individuals At until The nominate GAMCO the In The nominated to receiving failed Company The the November April further Company filing Company noted 3declined tofull 30, nominees respond articulate inquire GAMCO’s of him received 2009, Company in 2008, GAMCO’s identified GAMCO’s for to has to a
Slide 17: Background and history
Background and history Gabelli, The On nominated At supported letters Management At Company October NO with nominees principal theTIME to GAMCO April election the her the 30identified for did Company and for full of 30, ofelection Mr. GAMCO, the In election to 2010, again Company May the Company Gab
Slide 18: Background and history (2011)
A. The GAMCO Shareholders. At supported expense On Foley individuals the Company February April Background and disclosed and tothe Robert the 29, for identified distraction GAMCO 28, full Board 2011 nomination 2011, Company that B. and Annual Heisler, atittwo history and without of the had Recognizi
Slide 19: Background and history (2012)
Background andGAMCO As meaningful completed announcing history announcing On As by changing in Company’s plan response in the February each each with to response would Corporate communicate create of the election dialogue its shareholders of the GAMCO (which that the package 15, slate intention the
Slide 20: Conclusion: vote FOR the WHITE proxy card
Conclude annualized GAMCO toseeks Inregarding In serve the the have to past GAMCO past asput has basis, Shareholders elected directors three the three on not for Company’s the while articulated years, future has Directors four years, Company’s ofconsistently paying the new, Company the growth are th
Slide 21: Forward-looking statements
expect. “expect,” are no Litigation may Statements (2) statement and presentation and uncertainties explanation obligation, cautioned (5) Uncertainties (7) not financial events Many Myers Difficulties (8) Fluctuations be orReform Changes that “anticipate” correct, inof described which not Industries
Slide 22: Myers Industries, Inc.
Industries, Mimyers inc