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    Mike Sison

    Managing Director at Wells Fargo

    Mike Sison is a Managing Director at Wells Fargo Securities specializing in equity research within the chemicals and materials sectors. He actively covers leading companies such as Westlake Corporation, Celanese, and Huntsman, and has maintained analyst ratings with a 62% accuracy rate for Huntsman and a 40.98% overall success rate and -2.4% average return for Westlake on TipRanks and Ainvest. Sison joined Wells Fargo in August 2019 after over two decades at Keybanc Capital Markets and holds an MBA from Tulane University and a BS in Economics from Denison University. He is known for his rigorous due diligence, innovative leadership, and holds relevant finance credentials; his coverage and industry expertise have made him a recognized voice among Wall Street analysts.

    Mike Sison's questions to INTERNATIONAL FLAVORS & FRAGRANCES (IFF) leadership

    Mike Sison's questions to INTERNATIONAL FLAVORS & FRAGRANCES (IFF) leadership • Q4 2024

    Question

    Mike Sison asked about the long-term potential for IFF's EBITDA margin given its current portfolio, and for a retrospective view on the N&B acquisition, including its long-term fit, risks, and synergies with legacy IFF.

    Answer

    CEO Jon Erik Fyrwald projected that IFF's current portfolio could achieve an EBITDA margin in the low 20s over time, with Health & Biosciences being the highest margin business and Food Ingredients being the most challenged. Reflecting on the N&B deal, he acknowledged the initial complexity but emphasized the significant progress made in clarifying the organization. He described H&B, Scent, and Taste as very strong businesses, while positioning Food Ingredients as a continuing turnaround story. The immediate focus remains on executing the 2025 plan while making strategic investments for future growth.

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