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Pfenex to reduce board size as director forgoes re-election

Pfenex Inc. said March 14 that Dennis Fenton will not stand for re-election to the company's board.

Fenton, who has served on the company board for three years, is stepping down of his own accord and not as a result of a disagreement, the San Diego-based clinical-stage biotechnology company said.

Further, class III director Sigurdur Olafsson was reappointed as a class I director.

With Fenton leaving, the size of the company's board will be reduced to six members, and the number of class I seats will be reduced to two.