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Posted 30 September, 2021

INTERNATIONAL FLAVORS & FRAGRANCES INC appointed new CEO

CEO Change detected for ticker NYSE:IFF in a 8-K filed on 30 September, 2021.


  On September 30, 2021, International Flavors & Fragrances Inc. (the "Company") announced Mr. Andreas Fibig, who is currently Chief Executive Officer ("CEO") of International Flavors & Fragrances Inc. ("IFF" or the "Company") and a director and Chair of the Company's Board of Directors ("Board"), plans to retire as CEO and a director and Chair of the Board.  

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Overview of INTERNATIONAL FLAVORS & FRAGRANCES INC
Basic Materials/Resources • Chemicals
International Flavors & Fragrances, Inc. engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B's Food & Beverage division and the food protection business of N&B's Health & Biosciences division. The Health & Biosciences business consists of a biotechnology-driven portfolio of enzymes, food cultures, probiotics and specialty ingredients for food, home and personal care, and health and wellness applications. The Scent business creates fragrance compounds, fragrance ingredients and cosmetic ingredients that are integral elements in the world’s finest perfumes and best-known household and personal care products. The Pharma Solutions business produces a vast portfolio including cellulosics and seaweed-based pharma excipients, used to improve the functionality and delivery of active pharmaceutical ingredients, including controlled or modified drug release formulations, and enabling. The company was founded in 1833 and is headquartered in New York, NY.
Market Cap
$19.7B
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INTERNATIONAL FLAVORS & FRAGRANCES INC by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On September 30, 2021, International Flavors & Fragrances Inc. (the "Company") announced Mr. Andreas Fibig, who is currently Chief Executive Officer ("CEO") of International Flavors & Fragrances Inc. ("IFF" or the "Company") and a director and Chair of the Company's Board of Directors ("Board"), plans to retire as CEO and a director and Chair of the Board. Mr. Fibig will continue in his current role as CEO and a director and Chair of the Board until the Board appoints a successor CEO, which is expected by early 2022. Mr. Fibig has also agreed to stay on after the appointment of a successor CEO to assist in the transition for a period of time to be mutually agreed by the Company and Mr. Fibig, but in no event later than June 30, 2022. 

Mr. Fibig's departure following the appointment of a successor CEO will be treated as a qualifying event for purposes of IFF's executive severance policy. In addition, consistent with Mr. Fibig's letter agreement with the Company, dated May 19, 2014, the Compensation Committee of the Board has agreed to accelerate, effective as of such separation date, the vesting of all of his then outstanding unvested equity awards at target performance levels.