Business Wire·Mar 27, 2026, 7:30 AM ET

Irenic Sends Letter to Teleflex Board of Directors Regarding Its Refusal to Engage with Potential Acquirors

Irenic Capital Management, a shareholder with 2% ownership, sent a letter to Teleflex's Board on March 27, 2026, demanding openness to evaluating credible acquisition opportunities.
The letter criticizes the Board's refusal to engage with potential acquirors despite receiving interest from multiple credible parties.
Irenic highlights a 73% negative total shareholder return over the past five years as evidence of sustained value destruction.
The company is currently operating without a permanent CEO due to the Board's failure to properly plan for succession.
The letter points out that long-tenured directors, including Chairman Dr. Stephen Klasko, Candace Duncan, & Neena Patil, have made no open market purchases of Teleflex stock.
The entire Board collectively purchased only 8,250 shares on the open market, creating a misalignment with shareholder interests.
Irenic asserts that the current Board has not earned the right to unilaterally determine value creation strategies given its track record.
The firm calls for meaningful Board changes, specifically the appointment of a new Chair & the engagement of independent advisors.
Irenic urges the Board to immediately begin engaging with credible acquirors to objectively evaluate strategic alternatives.