Sieve Capital Urges Americold Shareholders to Vote Against the Reelection of Chairman Mark Patterson and Director Andrew Power at Annual Meeting

Published: 2026-04-23 10:20:27 ET COLD

Published on 04/23/2026 at 10:20 am EDT

On April 23, 2026, Sieve Capital LLC, together with its affiliates, issued a detailed presentation urging shareholders of Americold Realty Trust, Inc. to vote ?AGAINST? the re-election of Chairman Mark Patterson and Director Andrew Power at the Company?s upcoming Annual Meeting of Shareholders. Sieve Capital cited what it considers disqualifying conflicts of interest, specifically highlighting that Andrew Power?s compensation as CEO of Digital Realty Trust is controlled in part by Mark Patterson, who serves on Digital Realty?s Compensation Committee.

Sieve also criticized Mark Patterson?s minimal ownership of Americold shares and his excessive annual compensation as Chairman, which is approximately 50% higher than peer averages, suggesting this creates a financial incentive for him to obstruct a potential sale of Americold. Sieve Capital argued that the removal of Patterson and Power would strengthen the Board, especially in light of a significant collapse in shareholder value during Patterson?s tenure and recent reports of acquisition interest that warrant the Board?s attention to assess potential value creation for shareholders.