Beretta Holding nominates four directors to Ruger board

Beretta Holding S.A., the largest shareholder of Sturm, Ruger & Company with a 9.95% stake, announced it has nominated four independent director candidates for election to Ruger's board at the 2026 annual meeting.

The Luxembourg-based firearms company criticized Ruger's recent board changes as inadequate and said the moves fail to address what it called sustained shareholder value destruction. Beretta Holding stated that Ruger's net income has declined by more than 90% from its peak and reached its lowest level in a decade.

The four nominees are Michael Christodolou, manager of Inwood Capital Management and board member at Lindsay Corporation (NYSE: LNN) and NETSTREIT (NYSE: NTST); William F. Detwiler, co-founder and managing partner of Fernbrook Capital Management; Mark W. DeYoung, former chairman and CEO of Vista Outdoor Inc.; and Fredrick DiSanto, chairman and CEO of Ancora Holdings Group.

Beretta Holding said Ruger's shares have underperformed Smith & Wesson Brands by 57.1% and the Russell 2000 by 81.5% over the past three years. The company noted that incumbent directors collectively own approximately 1.0% of Ruger shares despite 65 years of combined service.

"After careful consideration, we now believe the only remaining path forward for shareholders is to seek meaningful boardroom change at the upcoming Annual Meeting," Beretta Holding stated in the announcement.

Beretta Holding, which traces its origins to 1526, operates through more than 50 subsidiaries and over 20 brands in defense, law enforcement, hunting and shooting sports markets. The company said it intends to file a preliminary proxy statement with the Securities and Exchange Commission to solicit votes for its director nominees.

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