Spotlight Advisors Adds New Expertise with Appointment of Juan I. Bonifacino and Mark Grothe

Bonifacino and Grothe Previously Served as Senior Members of the Proxy Contest and M&A Research Groups at Institutional Shareholder Services and Glass Lewis, Respectively

David Whissel Promoted to Managing Director

NEW YORK, July 31, 2023 /PRNewswire/ -- Spotlight Advisors, LLC, a leading financial and strategy advisory firm focused on guiding public companies and their investors in high-stakes situations, today announced the expansion of its senior leadership ranks with the addition of two accomplished professionals, Juan Bonifacino and Mark Grothe. Spotlight is also promoting David Whissel to Managing Director.

During the last eight years, Spotlight has become the leading advisory practice assisting public companies in responding to shareholder activists and other contentious shareholder matters, including challenged M&A transactions, controversial compensation plans and contested director elections. In the first half of 2023, according to data compiled by FactSet Research Systems, Spotlight had the most assignments as financial and strategy advisor in high-stakes shareholder activism matters in the United States.

"The addition of Juan and Mark to the Spotlight team will ensure our clients continue to receive best-in-class advice and achieve the remarkable outcomes they expect from us," said Gregory P. Taxin, Managing Member of Spotlight Advisors.

Juan Bonifacino, CFA, joins Spotlight as a Managing Director after having served as head of the shareholder activism practice at Stifel, where he advised more than three dozen public companies on activism response and preparedness, corporate governance, ESG and institutional investor outreach.

Previously, Juan was a Vice President of M&A and Proxy Contest Research at Institutional Shareholder Services (ISS), where he evaluated and made voting recommendations to institutional shareholders on the financial and strategic implications of over one hundred proxy contests, contentious mergers and economic proposals.

Mark Grothe, CFA, joins Spotlight as a Senior Director after 14 years as a senior member of the M&A and Contested Situations research team at Glass, Lewis & Co., where he provided institutional shareholders with in-depth research and evaluated the strategic and financial merit in thousands of special situations across all industries and markets. As a part of that work, Mark served as Glass Lewis' primary analyst and issued voting recommendations for more than 200 contested director elections and M&A transactions, including many of the most closely watched situations of the last decade.

"The Spotlight team has known Juan and Mark for many years, and we are very excited to be working with them directly as we grow our client base further," said Mr. Taxin. "I am also thrilled to announce David Whissel has been promoted to Managing Director. Over the last three years, Dave has demonstrated sound judgment, encyclopedic knowledge of activism and shareholders and an incredible work ethic. His contributions have meaningfully driven the success of our firm and great results for our clients." 

Spotlight is consistently ranked as the top advisor to companies and investors, having served as a financial and strategy advisor in 118 shareholder activist campaigns in the United States since the beginning of 2020, according to data compiled by Bloomberg Finance LP. By deal volume, Spotlight advised in 25% more campaigns than its closest rival, Goldman, Sachs & Co., and in 50% more activism situations than each of the next three advisors: Bank of America, Morgan Stanley and JP Morgan. 

Mr. Taxin concluded, "With a team of seven senior professionals with experience at the world's foremost investment banks, law firms, institutional investors and proxy advisory firms, Spotlight is well placed to continue to drive great results for our clients in shareholder activism and other high-stakes corporate matters."

About Juan I. Bonifacino

Prior to joining Spotlight, Juan Bonifacino founded and led the Shareholder Advisory & Activism practice at the investment bank Stifel. In 2022, Juan was named a Rising Star Dealmaker by the Global M&A Network as well as an Emerging Leader by M&A Advisor. Previously, Juan was a Principal at CamberView Partners (now PJT CamberView), a governance advisory firm. Juan previously served as a Vice President of M&A and Proxy Contest Research at ISS, where he evaluated and made voting recommendations on the financial and strategic implications of over one hundred proxy contests, contested and contentious mergers, and other proposals with an immediate economic impact for institutional investor clients. Juan is a CFA charterholder and received an M.B.A. from Georgetown University where he was the valedictorian of his class, as well as a B.A. from Princeton University. 

About Mark Grothe

Prior to joining Spotlight, Mark was a Senior Analyst on the M&A and Contested Situations research team at Glass Lewis for 14 years, where he provided institutional shareholders with in-depth research and voting recommendations on proxy contests, M&A transactions, shareholder activism campaigns and capital-related shareholder proposals. In his role at Glass Lewis, Mark frequently engaged with corporate directors and senior executives, activist investors, director candidates, institutional asset managers, and activism advisors. During his tenure, Mark served as the primary analyst on dozens of notable Glass Lewis research reports. Mark began his career as an analyst on Glass Lewis' accounting and forensic research teams, where he performed deep-dive analysis to uncover hidden or underappreciated risks at public companies related to business strategy, accounting methods, earnings quality and governance. Mark is a CFA charterholder and has a double master's degree in finance and accounting from the University of Colorado Denver, where he also completed his undergraduate studies in business and economics.

About David Whissel

David has been named a Managing Director after serving as a Senior Director of Spotlight Advisors since September 2020, where he has advised clients in dozens of proxy contests and contested M&A transaction votes. He was previously Executive Vice President and Director of Corporate Governance at MacKenzie Partners, where he represented clients in proxy contests and shareholder activism situations, friendly and contested mergers and acquisitions, and annual meetings. David also advised clients on general corporate governance, investor relations, shareholder proposals, and executive compensation matters. Prior to joining MacKenzie in 2016, David was CEO and Director of Research at Proxy Mosaic, a corporate governance research and proxy advisory firm that focused on shareholder activism, M&A, and executive compensation. David received his BA from Denison University, and his JD from the University of Tennessee College of Law.

About Spotlight Advisors, LLC

Spotlight Advisors, LLC, is a leading financial and strategy advisory firm focused on guiding public companies and their investors in high-stakes situations, such as contested director elections and contentious M&A transactions. Spotlight has provided advice in more than 150 situations involving shareholder activists seeking changes in the composition of public company boards (and has served as an advisor in approximately one-fourth of all proxy fights that went to a final vote in the United States since 2016) and in dozens of complex M&A and Special Committee situations, including unsolicited bids, bear hug letters and management buyouts. These complex situations often draw intense scrutiny from shareholders, the media and regulators, raising the stakes for executives and directors as their actions and decisions are placed in the spotlight. More about the firm is available at www.SpotlightAdvisors.com.

CONTACT: Greg Taxin, gtaxin@spotlightadvisors.com

SOURCE SPOTLIGHT ADVISORS, LLC