Daktronics nominates two new directors to board ahead of annual meeting

BROOKINGS, S.D. - Daktronics, Inc. (NASDAQ:DAKT), a display technology company with a market capitalization of $844 million and a "Good" financial health rating according to InvestingPro, announced Thursday its nominees for the upcoming Board of Directors election at its Annual Meeting of Shareholders scheduled for September 3, 2025.

The company has proposed two new directors, Mark Bowser and Neil Glat, to join its board. Bowser recently retired as executive vice president and chief financial officer at Cox Automotive, where he led Finance and Strategy teams. Glat previously served as President of the New York Jets and held senior leadership positions at the National Football League. The board changes come as Daktronics maintains a strong balance sheet with more cash than debt, according to InvestingPro analysis.

Current board member Kevin McDermott, who has served as a Director since 2015 and held various leadership roles including Audit Committee Chair and Lead Director, was not nominated for re-election. This decision aligns with the company’s March 3, 2025 Cooperation Agreement with Alta Fox Capital Management, which required Daktronics to refrain from nominating at least one current director whose term expires at the 2025 meeting.

"We are grateful to have benefitted from Kevin’s significant expertise, valuable business insights, and strong commitment to the Company and our stockholders," said Andrew Siegel, Chair of the Board, in the press release.

Dr. Jose-Marie Griffiths, Chair of the Board’s Nominating and Governance Committee, stated that Bowser and Glat "bring unique and valued capabilities" to the board. Griffiths noted Bowser’s extensive experience as a Chief Financial Officer and business leader of technology companies, while Glat brings perspectives from professional sports financing, technologies, and marketing.

Daktronics, which describes itself as the world’s largest supplier of large-screen video displays and electronic scoreboards, will hold its shareholder meeting on September 3, 2025. Investors should note that the company’s next earnings report is scheduled for August 27, 2025, with analysts expecting a return to profitability this year. InvestingPro subscribers have access to 12 additional key insights about Daktronics’ financial outlook and comprehensive research reports that provide deeper analysis of the company’s performance metrics.

In other recent news, Daktronics Inc. reported its earnings for the fourth quarter of fiscal year 2025, which fell significantly below analysts’ expectations. The company announced an earnings per share (EPS) of -$0.19, contrasting sharply with the projected $0.15, resulting in a negative surprise of 226.67%. Additionally, Daktronics reported revenue of $172.6 million, which was below the anticipated $193.97 million, marking an 11.02% shortfall. These results have been a major development for investors keeping an eye on the company’s financial performance.

Further recent developments include changes in the executive team at Daktronics. The company announced that Sheila M. Anderson will no longer serve as the principal accounting officer, though she will continue in her role as Chief Data and Analytics Officer. The company clarified that this change was not due to any disagreement regarding company operations, policies, or practices. Investors may find these executive changes noteworthy as they follow the company’s financial performance closely.

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