Hedge Fund Loses Battle For Sensient | Chemical & Engineering News
Volume 92 Issue 18 | p. 14 | Concentrates
Issue Date: May 5, 2014

Hedge Fund Loses Battle For Sensient

Department: Business
Keywords: proxy fight, directors, activist investors

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
ISSN 0009-2347
Copyright © American Chemical Society

Leave A Comment

*Required to comment