Vishay Intertechnology, Inc. issued the following statement from its Board of Directors in response to the press release issued on April 22, 2024 by Mountaineer Partners Management, LLC (“Mountaineer”) in which Mountaineer published its letter to the Board of Directors urging the Board to consider adopting and implementing a $600 million accelerated share repurchase.
Vishay regularly engages with our stockholders and welcomes constructive input focused on enhancing value. Vishay’s CEO has held numerous discussions with Mountaineer since his appointment to the position on January 1, 2023, and the senior management team met with stockholders most recently at the company’s Investor Day held on April 2, 2024.
Vishay’s Board appreciates and is carefully evaluating the suggestion made by Mountaineer along with input from other stockholders to determine the course of action that is in the best interest of the company and all stockholders.
Original – Vishay Intertechnology