NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) announced that its Board of Directors has declared a regular quarterly cash dividend of $0.40 per share of its common stock, payable on July 10, 2024 to shareholders of record as of June 21, 2024. Welcome to IFF At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners ...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE:IFF) today announced that it will release its first quarter 2024 earnings results following the market close on Monday, May 6, 2024. The management team will host a live webcast on Tuesday, May 7, 2024 at 9:00 a.m. ET to discuss results and outlook with the investor community. Investors may access the live webcast and accompanying slide presentation on the Company's website at . For those unable to listen to the live webcast, a recorded version will be made available for replay. Welcome to IFF At IFF (NYSE: IFF), an industry leader in food, beverage, h...
Moody's Ratings (Moody's) affirmed International Flavors & Fragrances, Inc.'s ("IFF") Baa3 issuer rating, Baa3 senior unsecured debt rating and its Prime-3 (P-3) rating for commercial paper. The outlook was changed to stable from negative. The stabilization of the outlook follows the company's rec...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced that it has completed the previously announced divestiture of its Cosmetic Ingredients business to Clariant, a sustainably focused specialty chemicals company. As a part of Clariant, the business will continue to deliver innovative ingredients for the cosmetic and personal care product portfolio. “At IFF, our strategic transformation is focused on bringing leading innovation to best serve target customers in our core businesses,” said IFF CEO Erik Fyrwald. “To do this, we are optimizing and streamlining our portfolio to drive simpli...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced Ana Paula Mendonça—who has dedicated her career to the advancement and commercialization of fragrance—has been named President of Scent, IFF, effective April 1. Simon Herriott, current president of Health & Biosciences and Scent will continue to lead IFF’s Health and Biosciences business unit. In Mendonça’s new role, she will lead IFF’s industry-leading Scent business unit, which includes fine fragrance, consumer fragrance and fragrance ingredients. Mendonça will be based in New York City and remain part of IFF’s Executive Leadershi...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced that it has entered into a definitive agreement to sell its Pharma Solutions business unit to French leader of plant-based ingredients Roquette for an enterprise value of up to $2.85 billion, which represents an enterprise value to EBITDA multiple of approximately 13x. IFF’s Pharma Solutions business is a well-established developer and manufacturer of pharmaceutical excipients and includes its Global Specialty Solutions business supporting industrial and methyl cellulosic food applications. The Pharma Solutions business being sold to ...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced the grant of employment inducement awards to J. Erik Fyrwald, IFF Chief Executive Officer and member of the Board of Directors. The Company's Board of Directors approved the employment inducement awards on Jan. 9, 2024, with a grant date of March 1, 2024, as a material inducement to enter into an offer of employment in reliance on the employment inducement award exception to New York Stock Exchange Listing Rule 303A.08 that requires shareholder approval of equity-based compensation plans. Listing Rule 303A.08 requires the public ann...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF)—a world leader in food and beverage, home and personal care, and health—has been named the top American Company for gender equality and tenth globally by Equileap, a leading organization providing data and insights on gender equality in the corporate sector. In its seventh annual Gender Equality Global Report & Ranking, Equileap provides a status update on gender equality in the corporate world, evaluating 19 different criteria that range from the gender pay gap and female representation at all corporate levels to parental leave and anti-sexual har...
NEW YORK--(BUSINESS WIRE)-- International Flavors & Fragrances Inc. (NYSE: IFF) reported financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Consolidated Summary: Reported (GAAP) Adjusted (Non-GAAP)1 Sales Loss Before Taxes EPS Operating EBITDA Operating EBITDA Margin EPS ex Amortization $2.7 B $(2.6) B $(10.21) $461 M 17.1% $0.72 Full Year 2023 Consolidated Summary:...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE:IFF) today announced that it will release its fourth quarter and full year 2023 earnings results following the market close on Tuesday, Feb. 20, 2024. The management team will host a live webcast on Wednesday, Feb. 21, 2024 at 9:00 a.m. ET to discuss results and outlook with the investor community. IFF also announced today that the Company’s management will speak at the Consumer Analyst Group of New York (CAGNY) conference in Boca Raton, Florida, on Thursday, Feb. 22, 2024 at 1:00 PM ET. Investors may access the live webcast and accompanying slide pres...
SANDVIKA, Norway--(BUSINESS WIRE)-- IFF (NYSE: IFF), a global leader in food and beverage, home and personal care and health, today announced its partnership with environmental non-governmental organization (NGO) Bellona in a long-term project to restore seaweed forests in northern Norway. The collaboration on the Norwegian Marine Restoration (NoMaRe) project aims to restore 5,000 square kilometers of seaweed forest by managing invasive sea urchin predation. The regrowth of the forests could increase biological carbon sequestration by 12 million tons – the equivalent of Norway’s total oil and ...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced the appointment of J. Erik Fyrwald to succeed Frank Clyburn as Chief Executive Officer and member of the IFF Board of Directors, effective Feb. 6, 2024. Clyburn will work closely with Fyrwald to ensure a seamless transition, remaining with IFF until March 31, 2024, and further serving in an advisory capacity through December 2024. Fyrwald brings to IFF more than four decades of executive and operational experience driving innovation and profitable, sustainable growth at leading corporations in the nutrition, agriculture and chemical...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) reported financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Consolidated Summary: Reported (GAAP) Adjusted (Non-GAAP)1 Sales Income Before Taxes EPS Operating EBITDA Operating EBITDA Margin EPS ex Amortization $2.8 B $59 M $0.10 $506 M 17.9% $0.89 First Nine Months 2023 Consolidated Summary: Reported (GAAP) Adjusted (No...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced the continuation of the cooperation agreement with Icahn Capital LP and its affiliates. Icahn Capital and IFF have agreed to renominate one Icahn director and one mutually agreed director to the IFF board for the 2024 proxy season. “The Icahn Group’s relationship with IFF has brought relevant market experience to and enhanced the financial expertise of the IFF Board. We are pleased to continue to benefit from their expertise as we execute our growth and transformation plan to drive increased shareholder value,” said Roger Ferguson, ...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) announced that its Board of Directors has declared a regular quarterly cash dividend of $0.81 per share of its common stock, payable on January 8, 2024 to shareholders of record as of December 28, 2023. Welcome to IFF At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who p...
NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced that Clariant—a sustainably focused specialty chemical company—has agreed to purchase IFF’s Cosmetic Ingredients business unit for $810 million. Reporting through IFF’s Scent division, IFF’s Cosmetic Ingredients business unit develops, manufactures and markets innovative ingredients for the cosmetic and personal care industry, including active ingredients, functional ingredients and delivery systems, primarily through the Lucas Meyer Cosmetics brand. Cash proceeds from the proposed transaction—net of taxes and expenses—will be used to...
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