NEW YORK--(BUSINESS WIRE)--Oct. 27, 2014--
International Flavors & Fragrances Inc. (NYSE:IFF), a leading global
creator of flavors and fragrances for consumer products, today announced
that the Company’s Board of Directors has appointed Andreas Fibig, who
serves as the Company’s Chief Executive Officer, as Chairman of the
Board, effective December 1, 2014.
Mr. Fibig will succeed Doug Tough, the current IFF Chairman, who will
retire from the Board effective December 1, 2014. As previously
communicated, Mr. Tough stepped down as CEO on September 1, 2014, and
has been serving as Chairman of the Board to ensure a seamless
transition.
“I would like to thank Doug for his many contributions to IFF and wish
him all the best in the future,” Arthur Martinez, IFF’s Lead Director
said. “Under his leadership, IFF achieved remarkable results, both
strategically and financially, that led to excellent returns for our
shareholders.”
Mr. Martinez continued, “IFF is fortunate to have someone with Andreas’
experience and leadership skills assume the role of Chairman. He brings
a combination of passion, vision, and dedication that will further
enhance IFF’s ability to create long-term shareholder value.”
“IFF is a company with expansive global reach, a successful culture of
innovation, strong financial results, and passionate employees,” said
Mr. Fibig. “I am honored to have the opportunity to serve as the
Chairman of the Board. I want to thank Doug for his leadership, advice
and counsel during the transition. Throughout his tenure as Chairman and
CEO, Doug enhanced our Board and strengthened our Company with his
leadership, insight and enthusiasm. I look forward to my new role and to
guiding IFF towards a promising future.”
Mr. Fibig was appointed Chief Executive Officer of International Flavors
& Fragrances on September 1, 2014 and has been a member of the IFF Board
of Directors since 2011. Prior to joining IFF, Mr. Fibig was President
and Chair of the Board of Management of Bayer Healthcare
Pharmaceuticals. Prior to joining Bayer, Mr. Fibig held a number of
positions of increasing responsibility at Pfizer Inc., including Senior
Vice President of the US Pharmaceutical Operations group and President,
Latin America, Africa and Middle East. He also held positions with
Pharmacia GmbH and Boehringer Ingelheim GmbH.
About International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc. (NYSE:IFF) is a leading global
creator of flavors and fragrances used in a wide variety of consumer
products. Consumers experience these unique scents and tastes in fine
fragrances and beauty care, detergents and household goods, as well as
beverages, sweet goods and food products. The Company leverages its
competitive advantages of consumer insight, research and development,
creative expertise, and customer intimacy to provide customers with
innovative and differentiated product offerings. A member of the S&P 500
Index, IFF has more than 6,000 employees working in 31 countries
worldwide. For more information, please visit our website at www.iff.com.
Source: International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc.
VP, Global Corporate
Communications & Investor Relations:
Michael DeVeau,
212-708-7164
or
Director, Investor Relations:
Shelley
Young, 212-708-7271
