Beaver Hollow Wellness urges Servotronics shareholders to vote for its nominees

Beaver Hollow Wellness issued a statement in response to the Company’s amended proxy statement filed April 22: “Servotronics (SVT)’ latest filing is a clear sign of a board under pressure and out of touch,” said Paul Snyder III, Chairman of BHW. “The escalation in rhetoric, along with newly inserted language about ‘change of control’ compensation, demonstrates that the Company is more focused on protecting executive payouts than delivering value to shareholders. We call on shareholders to reject the fear tactics and vote for experience, independence, and accountability. Our SAVE Servotronics plan is clear, constructive, and credible.” BHW added, “In a newly inserted clause, the Board claims that replacing a majority of directors could trigger ‘change in control’ provisions that result in accelerated equity awards and enhanced severance benefits for current executives. It is outrageous that the very Board responsible for awarding these outlandish payouts, is now attempting to use them as a scare tactic with shareholders. This Board has focused on granting Golden Parachutes to their cronies, in stark contrast BHW is focused on rebuilding this once great manufacturing company. Any executive payout should be fair, transparent, and performance-based-not triggered by shareholder votes for accountability. BHW seeks to implement lean manufacturing principles, overhaul supply chain operations, and ensure zero-defect deliverability. not to disrupt the company’s operations. Instead, it seeks to introduce oversight that prioritizes shareholder interests, responsible capital allocation, and operational excellence. The nominees include professionals with backgrounds in aerospace, finance, manufacturing, and governance.”