business
Dye & Durham ex-CEO Matthew Proud rejoins board of embattled software company
Matthew Proud, ex-CEO of Dye & Durham, rejoins the board of the embattled Toronto software company.
Key points
- Dye & Durham reached standstill and voting support agreements with Plantro Ltd.
- The agreements last until next September and end all ongoing litigation between Plantro and D&D.
- Edgepoint will nominate firm partner Lee Matheson to the board, and Norman Findlay stays until next month's annual meeting.
Why it matters. The settlement ends a long-running governance fight at D&D, which the source says still faces a weak housing market, heavy debt and a junk-level credit rating.
Dye & Durham has reached standstill and voting support agreements with its two largest shareholders, Plantro Ltd., the holding company of former chief executive Matthew Proud, and EdgePoint Investment Group, which together control a combined 36 per cent of the stock.
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Dye & Durham ex-CEO Matthew Proud rejoins board of embattled software company
Former CEO and fellow large shareholder Edgepoint agree to standstill deals with Toronto company Open this photo in gallery: Matthew Proud in his office at 140 Yonge Street in Toronto in September, 2025. DUANE COLE/The Globe and Mail Dye & Durham Ltd. has made peace with former chief executive officer Matthew Proud, who is rejoining the board nearly two years after he left the company under pressure from an activist investor. The Toronto legal software company said Thursday it had reached standstill and voting support agreements with its two largest shareholders – Mr. Proud’s holding company Plantro Ltd. and Toronto fund manager EdgePoint Investment Group, which control a combined 36 per cent of the stock. The agreements last until next September. The deal ends all ongoing litigation between Plantro and D&D. “Dye & Durham is a great business,” Mr. Proud told The Globe and Mail. “I’m excited to see stakeholders come together around a shared vision for creating long-term value after a few challenging years.” Dye & Durham appoints fifth chair in less than a year as stock plumbs record lows He said he plans to “collaborate closely with the board and management to drive long term performance” at D&D. Under its new agreement, Edgepoint gets to nominate a director; its choice is firm partner Lee Matheson. Mr. Proud joins the board as Plantro’s nominee, under an agreement dating to whe.