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Talk of the Bay
John Sykes sells shares as stock soars
By SCOTT BARANCIK
Published August 21, 2006
While helicopters and cranes were hoisting Sykes Enterprises' logo atop a downtown Tampa high-rise this month, namesake John Sykes was unloading a chunk of its stock. He might have been foolish not to. The Tampa customer-service company's stock hit a six-year high last week. During the first half of August, founder and former CEO Sykes sold 880,000 shares for more than $16-million. Is he assembling a war chest for a long-rumored mayoral bid in Tampa? Will he use the money to bolster CloverLeaf Farms II, his thriving thoroughbred-horse breeding business in Reddick? Sykes, who turned 70 last month, won't say. A request to speak with him or his son, CEO Chuck Sykes, was declined. Despite the recent selloff, it will be a while before John Sykes runs out of company stock. He owns 8.7-million shares, about half what he did three years ago but enough to maintain a 22 percent stake. He wasn't the only seller. Also taking advantage of the stock's husky price this month were Chuck Sykes, director Mark Bozak, and the company's general counsel, chief financial officer and human resources boss.
[Last modified August 21, 2006, 06:25:24]
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