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Business

Innophos Accedes To Activist Demands

by Marc S. Reisch
January 18, 2016 | APPEARED IN VOLUME 94, ISSUE 3

At the behest of activist shareholder FrontFour Capital, phosphorus chemicals maker Innophos Holdings has appointed two new directors to its board: Robert J. Zatta, former chief financial officer of Rockwood Holdings, and Peter T. Thomas, CEO of Ferro. FrontFour, which has succeeded in pressuring chemical firms such as Ferro and Sensient Technologies to make changes, has been needling Innophos to improve returns since October 2014. FrontFour Managing Member Stephen Loukas says he is encouraged by recent management and operational changes at Innophos. The firm recently hired former Dow Chemical executive Kim Ann Mink as its CEO following the retirement of Randy Gress.

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