Biotech
Genzyme Founder Says CEO Must Go: Exclusive
Stock quotes in this article:GENZ
Termeer can also expect scrutiny of his job performance to continue. Genzyme holds its annual meeting in May at which the company's directors will be up for re-election. It remains to be seen whether an activist shareholder tries to nominate a dissident slate of directors in order to force management changes.
Snyder, Genzyme's founder, believes it will take the deliberate actions of a large and persuasive shareholder to force Termeer from his CEO perch. "Henri is one tough S.O.B.," Snyder says. "He will fight like a monster because his ego and pride are longer than the Charles River. He won't just bow out." -- Reported by Adam Feuerstein in Boston.TheStreet Premium Services
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