secwatch.observer — SEC 8-K summary
======================================

Issuer:     INTERNATIONAL FLAVORS & FRAGRANCES INC (IFF)
CIK:        0000051253
Form:       8-K
Filed at:   2024-01-11T23:59:59+00:00
Accession:  0001193125-24-006619
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51253/000119312524006619/0001193125-24-006619-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51253/000119312524006619/d712376d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-006619

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