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International Flavors & Fragrances Inc. (IFF) is a leading creator and manufacturer of a diverse range of products used in consumer goods . The company operates through four main segments, offering natural-based ingredients, biotechnology-derived products, fragrance compounds, and pharmaceutical excipients . IFF's products serve various markets, including food, non-food, perfumes, household products, and industrial uses .
- Nourish - Offers natural-based ingredients that enhance nutritional value, texture, and functionality in food applications such as beverages, dairy, bakery, and confectionery.
- Health & Biosciences - Focuses on biotechnology-derived products like enzymes, probiotics, and specialty ingredients for both food and non-food applications, serving markets such as animal nutrition and grain processing.
- Scent - Produces fragrance compounds and ingredients used in perfumes and household products.
- Pharma Solutions - Provides pharmaceutical excipients and other specialty products for industrial uses.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Angela Strzelecki Executive | President, Pharma Solutions | None | President of Pharma Solutions since February 2021. Former Platform Leader for Pharma Solutions at DuPont. Over 20 years of leadership experience in the pharmaceutical industry. | |
Casper Vroemen Executive | EVP, Chief Research & Development Officer | None | Joined IFF in 2004; promoted to Chief R&D Officer in September 2023. Extensive experience in R&D leadership roles across Europe and the U.S.. | |
Deborah Borg Executive | EVP, Chief HR, Diversity & Inclusion, and Communications Officer | None | Joined IFF on August 29, 2022. Former Chief HR and Communications Officer at Bunge Limited. Extensive HR leadership experience at Dow Chemical and General Motors. | |
Glenn Richter Executive | EVP, Chief Financial & Business Transformation Officer | None | CFO from September 2021 to February 2023; transitioned to Chief Financial & Business Transformation Officer in February 2023. Former CFO of TIAA. | |
J. Erik Fyrwald Executive | Chief Executive Officer | Board Member at Eli Lilly and Company; Board Member of Syngenta Group | CEO of IFF since February 6, 2024, with over four decades of experience in agriculture, nutrition, and chemicals industries. Former CEO of Syngenta and Univar Solutions. | View Report → |
Jennifer Johnson Executive | EVP, General Counsel and Corporate Secretary | None | General Counsel since February 2021. Former Associate General Counsel for DuPont's N&B Business. Extensive legal experience in intellectual property and corporate law. | |
Michael DeVeau Executive | EVP, Chief Financial Officer | None | CFO since January 1, 2025. Joined IFF in 2009 and held various senior finance roles, including SVP of Corporate Finance and Investor Relations. | |
Ralf Finzel Executive | EVP, Global Operations Officer | None | Joined IFF on November 1, 2022. Former VP of Integrated Supply Chain at Honeywell International. Extensive experience in operations and supply chain management. | |
Simon Herriott Executive | President, Health & Biosciences | None | President of Health & Biosciences since February 2021. Former Global Business Director at DuPont's Industrial Biosciences division. | |
Vic Verma Executive | EVP, Chief Information Officer | None | CIO since 2016, promoted to EVP in February 2021. Former VP of Global Infrastructure Operations at American Express. | |
Yuvraj Arora Executive | EVP & President, Nourish | None | Joined IFF on June 19, 2023. Former President of six U.S. categories at Kellogg North America. Over 20 years of experience in marketing and category management. | |
Carol Anthony Davidson Board | Director | Board Member at TE Connectivity; Board Member at FMC Corporation | Director since 2021. Former CFO of Tyco International. Extensive expertise in financial reporting and internal controls. | |
Christina Gold Board | Director | Board Member at Safe Water Network | Director since 2013. Former CEO of Western Union. Extensive experience in governance and corporate responsibility. | |
Cynthia Jamison Board | Director | Chair of the Board at Darden Restaurants; Chair of the Board at Big Lots | Director since January 1, 2025. Former CFO and turnaround expert. Extensive experience in financial strategy and governance. | |
Dawn C. Willoughby Board | Director | Board Member at J.M. Smucker Company; Board Member at TE Connectivity | Director since February 1, 2023. Former COO of The Clorox Company. Extensive experience in operations and governance. | |
Gary Hu Board | Director | Board Member at Dana Incorporated; Board Member at Bausch & Lomb Corporation | Director since February 1, 2023. Portfolio Manager at Icahn Capital LP. Extensive experience in M&A and financial strategy. | |
John F. Ferraro Board | Director | Board Member at Advance Auto Parts, Inc.; Board Member at ManpowerGroup Inc. | Director since 2015. Former Global COO of Ernst & Young. Extensive experience in auditing, accounting, and global business operations. | |
Kathryn J. Boor Board | Director | Dean of the Graduate School at Cornell University; Board Member at Seneca Foods Corporation; Board Member at Sarepta Therapeutics, Inc. | Director since 2021. Expert in food and beverage science, molecular biology, and food safety. Former Dean of the College of Agriculture and Life Sciences at Cornell University. | |
Kevin O’Byrne Board | Director | Board Member at Centrica plc; Board Member at J Sainsbury plc | Director since March 10, 2023. Former CFO of J Sainsbury plc. Extensive experience in finance and retail leadership. | |
Margarita Paláu-Hernández Board | Director | Director at Conduent Incorporated; Director at Apartment Income REIT Corp. | Director since June 3, 2024. CEO of Hernández Ventures. Former U.S. Representative to the UN General Assembly with the rank of Ambassador. | |
Mark J. Costa Board | Director | CEO and Chair of Eastman Chemical Company | Director since 2023. CEO of Eastman Chemical Company since 2014. Extensive leadership experience in the chemical industry. | |
Roger W. Ferguson, Jr. Board | Chair of the Board of Directors | Board Member at Alphabet Inc.; Board Member at Corning Incorporated | Chair of IFF's Board since April 12, 2023. Former President and CEO of TIAA. Extensive experience in finance and governance. | |
Vincent Intrieri Board | Director | Director at Transocean Ltd.; Director at Hertz Global Holdings; Chairman of the Board at SandRidge Energy Inc. | Director since January 1, 2025. Founder of VDA Capital Management LLC. Extensive experience in investment and corporate governance. |
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With the increased reinvestment needs in R&D and innovation, including the additional $20 million planned in Q3 and Q4 , how do you plan to balance this with your goal of continuously improving margins and ROIC, and can you provide more specifics on achieving both objectives?
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Given your net debt of $9.1 billion and a net debt to EBITDA ratio of 3.9x , what specific steps are you taking to strengthen your capital structure and reduce leverage, especially considering the upcoming divestiture of the Pharma Solutions business?
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With your updated full-year guidance expecting net sales of $11.3 billion to $11.4 billion and adjusted operating EBITDA at the high end of $2.1 billion to $2.17 billion , can you elaborate on the key risks that could prevent you from achieving these targets, particularly in light of potential macroeconomic headwinds?
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You mentioned a flat price/cost dynamic expected for next year ; can you provide more clarity on how you plan to manage potential increases in raw material costs and tariffs, and what impact these could have on your margins?
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Regarding the Functional Ingredients business turnaround and the ongoing restructuring of your global supply chain footprint , what key challenges do you foresee in achieving the targeted EBITDA margins of 15% plus, and how confident are you in meeting those targets within the planned timeframe?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Givaudan | One of the large global companies competing in the broader market that includes functional foods, food additives, natural ingredients, nutritional ingredients, supplements, and active cosmetic ingredients. |
DSM-Firmenich | A major competitor in the global market for ingredients and compounds used in consumer products, including functional foods and food additives. |
Symrise | Identified as a key competitor in the highly competitive market for products such as seasonings, probiotics, and fortified products. |
Kerry | Competes in the market for functional food ingredients and other consumer product-related compounds. |
Listed among the large global companies competing in the market for natural and nutritional ingredients. | |
Novonesis | Included as one of the main competitors in the market for food-related commodities and active cosmetic ingredients. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Health Wright Products, Inc. | 2022 | Completed on April 1, 2022, this deal was valued at approximately $157 million (including cash and contingent consideration) and was aimed at strengthening capabilities in formulation and finished format sectors within the Health & Biosciences business, with the purchase agreement executed on February 16, 2022 and key acquired assets including significant intangible assets and goodwill. |
Recent press releases and 8-K filings for IFF.
- Q1 2025 results: Revenue declined by 2% to $2,843M alongside roughly 3% comparable currency-neutral sales growth, with adjusted operating EBITDA of $578M and margin expansion to 20.3% .
- Broad-based segment performance with strong results in Taste, Scent, and Health & Biosciences while Food Ingredients underperformed due to protein solutions issues .
- Pharma Solutions divestiture was completed 2 months early, underscoring the refocus on core segments .
- Cash flow operations reached $127M and CapEx was $179M, supporting ongoing investments .
- Strategic debt management includes a debt tender offer aimed at reducing the net debt to EBITDA ratio below 3x, even as the current net debt to credit adjusted EBITDA ratio stands at 3.9x .
- Amid challenging macroeconomic conditions and tariff exposures, IFF is reinvesting in R&D and productivity to drive long-term profitable growth .
- International Flavors & Fragrances Inc announced on March 13, 2025 that Jennifer Johnson, the Executive Vice President, General Counsel, and Corporate Secretary, has resigned effective July 1, 2025.
- The resignation qualifies under the company’s executive severance policy, ensuring a managed transition process following her departure.