The Urgent Need for Change and The Superior Path Forward
THE INCUMBENT BOARD HAS FAILED TO SERVE AS
AN EFFECTIVE CHECK ON SYNALLOY'S MANAGEMENT
Why has the Board remained idle as an unqualified management team continues to
destroy stockholder value?
Other than a previous relationship with Chairman
Murray Wright, we have found no objective
qualifications that would have convinced the Board
to hire Craig Bram as CEO
▪ In the event that the Board, somehow, did not
understand Mr. Bram's inabilities, his reckless
spending - including the Company's ownership
interest in a jet - should have served as a warning
sign that the Board continuously ignored
■
Unfortunately, not only has the Board failed to take
decisive action to correct its mistake in hiring Mr.
Bram, but it has paid him handsomely - including a
bonus every single year he has been CEO - even
though performance has repeatedly and drastically
missed stated goals
PRIVET
FUND
01. 02. 03. 04. 05.
UPG
STRONGER TOGETHER
Meaningful Change is
Required at Synalloy
We feel the incumbent Board has
shown a shocking lack of good
judgment in appointing an
inexperienced and unqualified
CEO, letting him spend
stockholder capital while he
mismanages the Company's
assets and then paying him
handsomely for the lack of
results
57View entire presentation