Steve Landsman
Executive Vice President, General Counsel at IFF
Executive
About Steve Landsman
Steve Landsman is Executive Vice President, General Counsel at IFF; he is named as the company’s signatory in multiple executive 8‑K filings in 2025, including October 22, 2025 and August 7, 2025 , and previously was listed on IFF’s executive leadership team as EVP, Business Development on February 20, 2025 . Recent company performance context during his tenure: IFF reported a 16% improvement in comparable EBITDA growth in 2024, while the 2022–2024 long‑term PSU cycle paid out 13.1% weighted due to underperformance of relative TSR versus the S&P 500 . In Q3 2025, net sales were $2,694 million vs. $2,925 million in Q3 2024; nine-month 2025 net sales were $8,301 million vs. $8,713 million in 2024 .
Company performance metrics (context)
| Metric | 2024 | Note |
|---|---|---|
| Comparable EBITDA growth (%) | 16% | Company level (driven by volume/productivity) |
| 2022–2024 PSU weighted payout (%) | 13.1% | Primarily due to underperformance of relative TSR vs S&P 500 |
| Metric | Q3 2024 | Q3 2025 | 9M 2024 | 9M 2025 |
|---|---|---|---|---|
| Net Sales ($USD Millions) | $2,925 | $2,694 | $8,713 | $8,301 |
Past Roles
| Organization | Role | Years | Strategic impact / evidence |
|---|---|---|---|
| IFF | Executive Vice President, General Counsel | 2025 | Company signatory on executive 8‑K filings (appointments/board changes), indicating GC role and responsibility for corporate governance and SEC disclosures |
| IFF | Executive Vice President, Business Development | 2025 | Listed on IFF executive leadership team (press release), reflecting responsibility across corporate/business development |
Fixed Compensation
| Item | Disclosure |
|---|---|
| Base salary, target bonus %, actual bonus paid | Not disclosed for Landsman; he was not among 2024 NEOs covered by the Summary Compensation Table |
| Perquisites / allowances | Not disclosed for Landsman (NEO-specific items only) |
| Deferred compensation | DCP exists for executives; Landsman-specific elections not disclosed |
Performance Compensation
IFF’s executive programs and metrics (apply company‑wide; Landsman‑specific grant details are not disclosed):
- Annual Incentive Plan (AIP): Tied to currency neutral sales, EBITDA, and Strategic Objectives modifier; 2024 payouts were above target at the company level .
- Performance Stock Units (PSUs):
- 2024 awards: measured by cumulative dividend‑adjusted stock price, annual productivity & employee engagement, with a relative TSR modifier vs. S&P 500; settled 100% in shares .
- 2023 awards: measured by cumulative improvement in ROIC and three‑year relative TSR; settled 100% in shares .
- 2022 LTIP awards: measured by cumulative improvement in ROIC and three‑year relative TSR; 50% shares / 50% cash settlement .
| Program | Metric(s) | Period | Target (if disclosed) | Actual / Outcome | Payout | Vesting |
|---|---|---|---|---|---|---|
| AIP | Currency neutral sales; EBITDA; Strategic Objectives modifier | FY 2024 | Not disclosed | Above target payout at company level | Above target (company level) | Annual cash |
| PSU (2024) | Dividend‑adjusted stock price; productivity; employee engagement; TSR modifier | 2024–2026 | Not disclosed | In‑flight (design disclosed) | In‑flight | 100% shares; standard vesting per SAIP |
| PSU (2023) | ROIC improvement; relative TSR | 2023–2025 | Not disclosed | In‑flight | In‑flight | 100% shares |
| LTIP (2022) | ROIC improvement; relative TSR | 2022–2024 | Not disclosed | Three‑year cycle paid 13.1% weighted (company level) | 13.1% weighted | 50% shares / 50% cash |
Equity Ownership & Alignment
| Policy / practice | Details |
|---|---|
| Share retention guidelines | Executives required to meet share retention guidelines (company policy) |
| Hedging / pledging | Prohibited: “No short-sales, hedging or pledging” by employees, officers, directors |
| Clawback policy | Robust clawback beyond NYSE minimum; applies to cash incentive and all equity comp under specified events |
| Deferred Compensation Plan (DCP) | Encourages executives to hold IFF stock equivalents on a tax‑deferred basis; same matching level as 401(k) plan |
Note: Landsman’s individual beneficial ownership (shares/RSUs/options), pledging, and guideline compliance are not disclosed in the reviewed filings.
Employment Terms
| Term | Key provisions (executive policy) | Notes |
|---|---|---|
| Employment agreements | No employment agreements with executive officers | Company policy |
| Executive Severance Policy (ESP) – non‑CiC | For Tier I executives other than CEO: lump sum 1.5x (base salary + full target AIP for year of termination); prorated AIP based on actual performance; benefits continuation for 18 months; equity per SAIP (pro‑rata vesting of RSUs/PSUs) | Tier assignment not disclosed for Landsman |
| ESP – Change in Control (CiC) | Within 2 years after a CiC: for CEO 3x; for other Tier I executives 2x (base + target AIP); prorated AIP based on actual performance; equity treatment per SAIP; benefits continuation (18 months for non‑CEO) | Double‑trigger framework implied |
| Non‑compete / Non‑solicit | Non‑compete: 12 months; Non‑solicit: 24 months post‑termination; severance contingent on compliance | Applies under ESP |
| Clawback | ESP compensation subject to clawback upon specified events or covenant breach | Includes financial restatement / misconduct triggers |
| No tax gross‑ups | No tax gross‑ups for severance/CiC payments | Governance safeguard |
Investment Implications
- Compensation alignment and governance: IFF’s policies prohibit hedging/pledging and maintain robust clawbacks, reducing misalignment and signaling disciplined governance for senior executives like the General Counsel; no employment agreements and standardized ESP terms temper severance inflation risk .
- Performance levers informing incentive outcomes: AIP and PSU designs emphasize EBITDA, sales, ROIC, dividend‑adjusted stock price, and relative TSR; 2024 above‑target AIP and a 13.1% 2022–2024 LTIP payout demonstrate pay‑for‑performance mechanics and TSR sensitivity, which can influence executive equity realizable value and retention calculus .
- Role transition context: Landsman’s movement from EVP, Business Development to EVP, General Counsel in 2025 coincided with significant board and executive transitions; GC stewardship over 8‑K disclosures suggests central involvement in governance and transaction oversight, but individual compensation/ownership data are not disclosed, limiting direct trading signals from insider positioning .