IFF CEO Franklin Clyburn to step down; J. Erik Fyrwald named new CEO effective Feb 6, 2024

INTERNATIONAL FLAVORS & FRAGRANCES INC

CEO Franklin Clyburn departs effective Feb 6, 2024; remains in transitional role until Mar 31, then consulting through Dec 2024 for $1M.
J. Erik Fyrwald appointed CEO and director effective Feb 6, 2024; former CEO of Syngenta Group.
Fyrwald compensation: $1M base salary, 200% target bonus, $10M LTIP target, plus inducement awards (68,750 PSUs, 56,250 RSUs).
Clyburn severance: $3.575M cash (2x salary + prorated bonus), 24 months benefits continuation, pro-rata equity vesting.
Clyburn's March 2022 sign-on equity awards to continue vesting in full.

item 5.02 item 9.01

Executive movements

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Appointed

J. Erik Fyrwald

Chief Executive Officer and Director

IFF · INTERNATIONAL FLAVORS & FRAGRANCES INC

Effective: 2024-02-06
Filed: January 11, 2024, 6:59 PM ET

J. Erik Fyrwald has been appointed CEO of the Company and has been appointed to serve as a director of the Board.

Departed

Franklin K. Clyburn, Jr.

Chief Executive Officer and Director

IFF · INTERNATIONAL FLAVORS & FRAGRANCES INC

Effective: 2024-02-06
Successor: J. Erik Fyrwald
Filed: January 11, 2024, 6:59 PM ET

Mr. Franklin K. Clyburn, Jr. who is currently Chief Executive Officer (“CEO”) of the Company and a director of the Company’s Board of Directors (the “Board”), will cease to serve as CEO and a director of the Board, effective February 6, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

J. Erik Fyrwald was appointed as Chief Executive Officer and Director at INTERNATIONAL FLAVORS & FRAGRANCES INC.

Action: appointed
Role: Chief Executive Officer and Director

Exact text from the filing

J. Erik Fyrwald has been appointed CEO of the Company and has been appointed to serve as a director of the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Franklin K. Clyburn, Jr. departed as Chief Executive Officer and Director at INTERNATIONAL FLAVORS & FRAGRANCES INC.

Action: ceased to serve as
Role: Chief Executive Officer and Director

Exact text from the filing

Mr. Franklin K. Clyburn, Jr. who is currently Chief Executive Officer (“CEO”) of the Company and a director of the Company’s Board of Directors (the “Board”), will cease to serve as CEO and a director of the Board, effective February 6, 2024.

View on SEC.gov

INTERNATIONAL FLAVORS & FRAGRANCES INC filing history →

Source: SEC EDGAR

accession 0001193125-24-006619

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