Shareholder pushes for changes at flavor maker Senomyx -letter [Reuters]
SENOMYX (SNMX)
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Source: Reuters
Shareholder pushes for changes at flavor maker Senomyx: letter | Reuters 3 Min Read (Reuters) - A shareholder is calling on flavoring company Senomyx Inc ( SNMX.O ) that works with PepsiCo Inc ( PEP.O ) to drop its current chairman, to sell itself and add a new board seat, according to a letter reviewed by Reuters. One of the company’s large shareholders, Matthew Turk, who said he owns 4 percent of shares, or more than 1.9 million shares of common stock, is skeptical of the San Diego company’s announced plans to explore a strategic review, and hopes to turn around its fortunes after its stock has lost 78 percent of its value since it went public in 2004, the investor said in the letter on Tuesday. The flavors and ingredients space has been undergoing consolidation and growth as food multinationals, facing slowing growth for legacy food and drinks brands, adjust their offerings to appeal to new and healthier tastes. Last month, International Flavors & Fragrances Inc ( IFF.N ) agr
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