Let me bring this to your attention, in case you don't already know it.
Mr. Eno spent time in Texas, and no doubt has a network of "acquaintances" via his years in the oil business. Meanwhile, Comerica bank, which was the prime cause of BioAmber's present status, has its HQ in Dallas. Can there be a connection between the two, especially since the Comerica loan was negotiated while Eno was CEO? Then called in.
Now Mr. Eno also serves on the board of a "sustainable" non-profit. However, what does this mean in terms of his loyalties?
For example, one of the main criticisms of gov't is that folks appointed to positions, say, in the Energy Dept., served as executives in an energy company impacted by Energy policy. (Or the EPA ... same thing.) This is how these companies are a) able to know what decisions are being contemplated and/or b) actually make the decisions in their interests. Ex-energy executive have actually written legislation they lobbied for and passed by Congress.
It would NOT be unusual for say, a company like Exxon, to have a person on the board of a non-profit, if their interests are impacted by what that non-profit does. In fact, Exxon, just to take an example, has revenues that if it were a country, would be the seventh or eighth largest company in the world. Exxon also has a) an "intelligence" division, just like the CIA, and) the equivalent of a "military" division, with access to all manner of equipment for its "operations."
I know this to be a fact about Exxon, but I don't know about Chevron. It's likely that Chevron has essentially the some kind of organization as Exxon.
My point is: Mr. Eno was never very convincingly clear about where his loyalties might lie, outside of his loyalty to himself, in the interviews we've had access to. The proof will be in the outcome. If the current BioAmber management team is kept with a structured re-finance package, then we probably can conclude that he did the job he was asked to do: Save BioAmber. If the management team is replaced with some other package, then either we'll never know or we'll get a clue where his loyalties actually did lie. As an example, Ex-Halliburton CEO Dick Cheney got the U.S. in a war with Iraq to take its oil, NOT in U.S. interests BUT in Halliburton's interest, a company that has made $$Billions to date -- and FAILED to get the oil anyway.
Say all you want about Mr. Eno: I'm not sure his PR on July 31, was conducive to OUR interests -- and those of us who own stock still are largely loyal to BioAmber's mission and the long-term implications of its sustainable technology. In short, we really don't know ANYTHING substantial about Mr. Eno.
-
