Issue Date: May 5, 2014
Hedge Fund Loses Battle For Sensient
Activist hedge fund FrontFour Capital lost its battle to place four of its nominees on Sensient Technologies’ nine-member board. Shareholders instead elected all the nominees proposed by the flavors and fragrances firm. FrontFour says it still holds the board responsible for “substantial financial underperformance” at Sensient and that it should undertake “a more robust cost reduction plan” than the one adopted in March to save $25 million annually. Last year, FrontFour succeeded in placing two of its nominees on the board of specialty chemical maker Ferro.
- Chemical & Engineering News
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