secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL FLAVORS & FRAGRANCES INC (IFF)
CIK:        0000051253
Form:       8-K
Filed at:   2021-07-28T23:59:59+00:00
Accession:  0001193125-21-227550
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IFF appoints Mirzayantz as Nourish President, de Villeplee as Scent President, enters $2B credit facility
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- Nicolas Mirzayantz becomes President of Nourish division effective Sept 1, 2021, succeeding Kathy Fortmann who leaves IFF.
- Christophe de Villeplee promoted to President of Scent division, replacing Mirzayantz.
- IFF enters $2.0B senior unsecured revolving credit facility maturing July 28, 2026, expandable to $2.5B.
- Maximum net debt/EBITDA covenant starts at 4.75x, stepping down to 3.50x over time with acquisition step-ups.
- Mirzayantz receives $65,000 base salary increase, 10% bonus target boost, and $500,000 RSU grant.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51253/000119312521227550/0001193125-21-227550-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51253/000119312521227550/d206865d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-227550

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer