08:49 AM EDT, 09/09/2024 (MT Newswires) -- Kinaxis ( KXSCF ) should explore selling itself following the departures of Chief Executive John Sicard and Chief Sales Officer Claire Rychlewski, Kinaxis ( KXSCF ) shareholder Daventry Group in a letter on Monday.

In the letter, Daventry, which owns or controls about 1.4% of Kinaxis ( KXSCF ), outlined what it called years of "self-inflicted execution problems and mismanagement" at the company under the current board.

Daventry said this has led to Kinaxis' ( KXSCF ) material underperformance relative to peers despite the company's strong competitive position and healthy end market.

"A sale at this critical juncture in the company's growth trajectory would further grant Kinaxis ( KXSCF ) increased operational flexibility to scale the business, outside of the glare of public markets," Andrew Dantzig, managing partner at Daventry, wrote in the letter. "Having a new owner with greater operational expertise would likewise benefit the company's long-term interests."