North Star Partners Applauds "No" Vote on Checkpoint Systems Executive Compensation Policy; Recommends Checkpoint Appoint Shareholder Representatives to the Board

WESTPORT, Conn., June 11, 2015 /PRNewswire/ -- North Star Partners and its affiliates, owners of 862,675 shares of Checkpoint Systems, Inc. applaud shareholders' resounding "No" on the advisory vote to ratify compensation for named executive officers. Shareholders have delivered a clear message that they will no longer stand by while the board doles out excessive compensation and the company produces disappointing results.   In this regard, ISS has criticized the lack of alignment of pay with performance, noting Checkpoint Systems utilized above-median benchmarking for executive pay levels despite Checkpoint's negative total shareholder returns. Furthermore, ISS's corporate governance "QuickScore" of 10 for Checkpoint represents the highest level of risk regarding corporate governance in its ranking system.  The  "No" vote is a clear call for the Board to reform its executive compensation practices and correct the poor corporate governance that has plagued the company.

North Star is gratified that the Board has made a change of the Chairman position, but this  change falls far short of addressing the pro-shareholder corporate governance initiatives North Star has continuously sought, including elimination of the classified board and adding shareholder nominated directors to the Board. Checkpoint is well aware that the shareholders want changes on the Board now, there is no reason to wait until the next annual meeting to implement these vital changes.  Rejuvenating the Board is a critical next step to reversing the record of poor financial performance and shareholder returns.  North Star is a committed shareholder and will continue to press the company to make the pro-shareholder changes that are clearly needed to improve corporate governance and enhance shareholder value at the company.

CONTACT:
Andrew Jones
1-203-227-9898

SOURCE North Star Partners