8-K
filed January 20, 2022, 6:59 PM ET
ticker IFF
CIK 0000051253
leadership
confidence high
sentiment neutral
materiality 0.75
IFF names Frank Clyburn as CEO effective Feb 14; Fibig resigns as CEO and Chair
INTERNATIONAL FLAVORS & FRAGRANCES INC
- Andreas Fibig resigns as CEO and Chair effective Feb 14, 2022; Dale Morrison named non-executive Chair.
- Frank Clyburn, former Merck executive, appointed CEO and director, effective Feb 14, 2022.
- Clyburn receives base salary of $1.3M, target bonus of 150% of salary, and 2022 LTI target of $6.75M.
- Clyburn gets sign-on equity awards totaling ~$10.2M (SSARs, PSUs, RSUs, Deferred RSUs) to replace forfeited compensation.
- Board approves $2M retention award for Nourish CEO Nicolas Mirzayantz in PSUs tied to relative TSR.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andreas Fibig resigned as Chief Executive Officer at INTERNATIONAL FLAVORS & FRAGRANCES INC.
- Action
- resigned
- Role
- Chief Executive Officer
Exact text from the filing
Effective February 14, 2022, Mr. Fibig will resign as CEO and a director and Chair of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Franklin K. Clyburn, Jr. was appointed as Chief Executive Officer at INTERNATIONAL FLAVORS & FRAGRANCES INC.
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
On January 20, 2022, the Company announced that Mr. Franklin K. Clyburn, Jr. has been appointed CEO of the Company, effective February 14, 2022, and has been elected by the Board to serve as a director, effective February 14, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Franklin K. Clyburn, Jr. was elected as director at INTERNATIONAL FLAVORS & FRAGRANCES INC.
- Action
- elected
- Role
- director
Exact text from the filing
On January 20, 2022, the Company announced that Mr. Franklin K. Clyburn, Jr. has been appointed CEO of the Company, effective February 14, 2022, and has been elected by the Board to serve as a director, effective February 14, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andreas Fibig resigned as Chair of the Board at INTERNATIONAL FLAVORS & FRAGRANCES INC.
- Action
- resigned
- Role
- Chair of the Board
Exact text from the filing
Effective February 14, 2022, Mr. Fibig will resign as CEO and a director and Chair of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Dale F. Morrison was appointed as non-executive Chair of the Board at INTERNATIONAL FLAVORS & FRAGRANCES INC.
- Action
- appointed
- Role
- non-executive Chair of the Board
Exact text from the filing
Mr. Dale F. Morrison will be appointed to serve as the non-executive Chair of the Board, effective February 14, 2022.
View on SEC.gov
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