Activist Ned Sherwood Presses Barnwell Industries (BRN) for Board Change Amid Strategy and Governance Failures

Ned L. Sherwood and his group, owning nearly 30% of Barnwell Industries (BRN), filed definitive additional materials to solicit shareholder consents to remove the incumbent board and elect five new nominees. The group criticizes the current board for poor governance, excessive executive pay, legal entrenchment tactics, and failed capital allocation, arguing these moves have eroded shareholder value. Their plan emphasizes cost-cutting, better governance, and leveraging Barnwell’s tax assets, urging shareholders to support change by signing the GREEN consent card.