UPDATE 1-Senomyx shareholder pushes for change at flavor maker [Reuters]
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Source: Reuters
UPDATE 1-Senomyx shareholder pushes for change at flavor maker | Reuters Reuters Staff 4 Min Read (Recasts lead with detail; adds quotes; adds background) By Harry Brumpton June 12 (Reuters) - A shareholder who says he owns about 4 percent of Senomyx Inc called on Tuesday for the flavoring company to remove its chairman and give fresh oversight for a new sale process, saying in a publicly released letter that Senomyx’s performance has been “nothing short of disaster.” Matthew Turk, who said he owns more than 1.9 million shares of Senomyx’s common stock, said in the letter that he is skeptical of the San Diego-based company’s announced plans to explore a strategic review. Turk said in the letter that Senomyx shares have lost 78 percent of their value since the company went public in 2004, under the direction of Chairman Kent Snyder and Chief Executive Officer John Poyhonen. “There must not be a slow liquidation of Senomyx, but rather a complete sale either in whole or in parts as quick
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