Highest-materiality recent filing
IFF enters $1B term loan to refinance €800M 1.800% Senior Notes due 2026
Delayed draw term loan of $1.0B, available through Sept 25, 2026, matures Dec 31, 2027; proceeds to refinance €800M 1.800% Senior Notes due Sept 2026.
IFF sells Food Ingredients business to CVC for $4.3B, retains ~10% stake
Transaction values Food Ingredients at ~$4.3B (~10x EBITDA); net cash proceeds ~$3.8B.
Reported net sales $2.74B, down 4% YoY; currency-neutral sales +3% on volume growth across all segments.
IFF shareholders elect ten directors, ratify PwC, approve say-on-pay at 2026 annual meeting
All ten director nominees elected; J. Erik Fyrwald received 228.7M votes for, Brett Icahn 219.9M for.
IFF reports full year 2025 net loss of $412M; launches sale process for Food Ingredients segment
Full year net sales $10.9B (down 5% reported; comparable currency-neutral up 2%); reported GAAP loss per share $(1.46).
IFF Q3 2025 sales $2.7B, adj. EPS $1.05, reaffirms FY guidance
Q3 sales $2.7B, reported EPS $0.16, adjusted EPS $1.05, operating EBITDA $519M (19.3% margin).
IFF adopts amended bylaws effective October 29, 2025
Bylaws updated to reflect current committee nomenclature and modernize references.
IFF appoints Brett Icahn and Richard Mulligan to board; Intrieri and Paláu-Hernández step down
Brett Icahn replaces Vincent Intrieri as Icahn Group designee; Richard Mulligan replaces Margarita Paláu-Hernández.
IFF appoints Marc Birenkrant as Controller & CAO; Beril Yildiz to leave Dec 31, 2025
Marc Birenkrant named Controller & Chief Accounting Officer effective Aug 10, 2025; has 30+ years of finance experience at IFF since 2008.
Q2 2025 sales were $2.8B, reported EPS $2.38, operating EBITDA $552M at 20.0% margin.
IFF appoints Jesus Mantas and Paul Fribourg as independent directors
Jesus Mantas (56), former Global Managing Partner of IBM Consulting, joins board effective July 29, 2025.
IFF appoints Virginia Drosos to board, effective June 16, 2025
Virginia Drosos, former CEO of Signet Jewelers (2017-2024), joins IFF board.
IFF shareholders elect all 10 directors, ratify PwC auditor, approve executive compensation
All 10 incumbent directors re-elected; votes ranged from ~209M to ~221M "For".
IFF splits Nourish into Taste, Food Ingredients segments; recasts 2024 segment data
Effective Jan 1, 2025, IFF split former Nourish into Taste (flavors) and Food Ingredients; now five reportable segments.
IFF Q1 2025 net loss $994M on $1.15B goodwill impairment; adj EPS $1.20
Reported Q1 sales $2.84B (-2% YoY); currency-neutral comparable sales +3%.
General Counsel Jennifer Johnson resigns; effective July 1, 2025
Jennifer Johnson resigned as EVP, General Counsel and Corporate Secretary on March 12, 2025.
IFF: Health & Biosciences president Simon Herriott leaves; Leticia Goncalves Lourenço appointed
Simon Herriott, President of Health & Biosciences, departs IFF on March 31, 2025.
IFF posts 16% adjusted EBITDA growth, Q4 adjusted EPS $0.97
Full-year 2024 sales $11.48B flat YoY; comparable currency-neutral sales +6% led by Scent (+12%).
IFF announces three director retirements, three new appointees, and chair succession
Directors Ferguson, Davidson, Gold will not stand for reelection at 2025 Annual Meeting; serving until then.
IFF appoints Michael DeVeau CFO effective Jan 1, 2025; Richter retires Dec 31, 2024
Michael DeVeau named EVP, CFO effective Jan 1, 2025, succeeding Glenn Richter who retires Dec 31, 2024.
IFF Q3 sales up 4% to $2.93B, adj. EBITDA $568M, raises FY 2024 guidance
GAAP EPS $0.23 vs. $0.28 last year; adjusted EPS ex-amortization $1.04, up from $0.81.
IFF Q2 2024: Sales $2.9B, adj. EBITDA $588M; raises FY sales & EBITDA guidance
Q2 reported GAAP EPS $0.66; adjusted EPS ex amortization $1.16.
IFF appoints Margarita Paláu-Hernández to board, replacing Barry Bruno per Icahn agreement
Margarita Paláu-Hernández appointed to IFF board effective June 3, 2024.
IFF annual meeting: all management proposals pass, shareholder proposal fails
Ten directors elected, including Mark J. Costa (219.8M for) and Christina Gold (202.3M for).
IFF Q1 2024: Adjusted EBITDA $578M (+20% comparable); expects trend to higher end of guidance
Reported sales $2.9B, down 4% YoY; comparable currency-neutral sales up 5% on mid-single digit volume growth.
IFF CFO Glenn Richter to retire as of Dec 31, 2024; successor search underway
Glenn Richter, CFO and Chief Financial and Business Transformation Officer, notified IFF of retirement plan on May 1, 2024.
IFF President Simon Herriott steps down as President, Scent; retains Health & Biosciences role
Simon Herriott will step down as President, Scent effective April 1, 2024.
IFF sells Pharma Solutions to Roquette for $2.85B enterprise value
Enterprise value up to $2.85B; EV/EBITDA multiple of ~13x.
IFF reports Q4 loss of $2.6B on goodwill impairment; adjusted EBITDA up 17%
Q4 sales $2.7B, down 5% YoY; comparable currency neutral sales up 1%.
Barry Bruno to step down from IFF board at 2024 annual meeting
Barry Bruno notified IFF on Feb 5, 2024, that he will not stand for reelection.
IFF reaffirms FY 2023 sales $11.3-11.6B, adj. EBITDA at mid-to-high end of $1.85-2.0B
Full-year 2023 sales expected in line with prior guidance of $11.3B to $11.6B.
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.
IFF amends bylaws to allow special meeting upon 25% stockholder request
Board adopted amended and restated bylaws effective November 1, 2023.
IFF Q3 sales $2.82B, adj. EPS $0.89; guides FY adj. EBITDA to mid-high end
Reported Q3 sales $2.82B (-8% YoY); currency-neutral sales -3% YoY.
IFF amends credit agreements, extends covenant relief through Dec 2025; reiterates FY2023 guidance
Term loan and revolver covenants eased: leverage ratio steps down from 5.25x to 3.75x by Dec 2025.
IFF Q2 sales $2.9B, adj. EBITDA $510M; launches sale of Lucas Meyer Cosmetics
Q2 GAAP EPS $0.11; adjusted EPS ex amortization $0.86; sales $2.9B.
IFF reports Q1 2023: GAAP EPS $(0.04), adj. EPS $0.87; sales flat at $3.03B
Reported net sales $3.03B flat YoY; currency-neutral comparable sales +1% led by Scent and Pharma.
IFF annual meeting elects 11 directors and approves say-on-pay with ~89% support
All 11 director nominees elected, with votes for ranging from 201.8M to 219.9M.
Dale F. Morrison, Chair of the Board, passed away on April 8, 2023; planned retirement at 2023 annual meeting.
Term loan and revolver amendments extend covenant relief to Dec 31, 2024; max leverage ratio steps from 5.25x to 4.00x.
IFF amends Q4/FY2022 results: $28M tax adjustment, $52M cash reclassification; net loss $1.87B
Amendment adds $28M tax expense for Q4 and FY2022; no change to operating cash flow.
IFF announces director resignations, retirements, and appointment of Kevin O'Byrne
Stephen Williamson resigns as director effective March 10, 2023; no disagreement with company.
IFF reports Q4 sales $2.84B (-6% YoY); FY GAAP EPS $(7.21), adj. EPS $5.55
Q4 reported net sales $2.84B, down 6% YoY; currency-neutral comparable sales +4%.
IFF Chair Dale Morrison to resign at 2023 annual meeting; Roger Ferguson appointed as new Chair
Dale F. Morrison tendered resignation as director and Chair of the Board, effective at the 2023 annual meeting of shareholders.
IFF appoints Icahn's Gary Hu to board; settles activist dispute
Gary Hu (Icahn Capital portfolio manager) appointed to IFF Board effective Feb 1, 2023; joins Audit and Transaction Committees.
Director Ilene Gordon resigns from IFF Board, effective Feb 1, 2023
Ilene Gordon notified IFF of her resignation from the Board on Jan 25, 2023, effective Feb 1, 2023.
IFF appoints Dawn C. Willoughby to Board of Directors, effective Feb 1, 2023
Willoughby currently serves on boards of J.M. Smucker and TE Connectivity.
Director Michael L. Ducker to retire from IFF Board effective Dec 31, 2022
Michael L. Ducker notified IFF of his retirement as a director, effective December 31, 2022.
IFF amends bylaws to add universal proxy procedural requirements
Board adopted amended bylaws effective Dec 13, 2022, to comply with SEC Rule 14a-19 universal proxy.
IFF announces President of Nourish departure and appointment of Mark Costa to Board
Nicolas Mirzayantz, President of Nourish division, leaves IFF on Dec 31, 2022; qualifies for severance and equity acceleration.
On June 9, 2025, International Flavors & Fragrances Inc. (the “Company”) announced that Ms. Virginia Drosos has been appointed to its board of directors (the “Board”), effective June 16, 2025 (the “Effective Date”).
On March 12, 2025, Jennifer Johnson, who is currently Executive Vice President, General Counsel and Corporate Secretary of International Flavors & Fragrances Inc. (“IFF” or the “Company”), provided her resignation.
Effective March 1, 2025, Leticia Goncalves Lourenço will join IFF as President of the Company’s Health & Biosciences division.
Simon Herriott, who is currently President, Health & Biosciences, will be leaving IFF on March 31, 2025.
Ms. Paláu-Hernández replaces Barry Bruno pursuant to the previously disclosed Cooperation Agreement
Ms. Margarita Paláu-Hernández will be appointed to the board of directors of the Company (the “Board”) to fill a vacancy, effective as of June 3, 2024.
On May 1, 2024, Mr. Glenn Richter, who is currently the Chief Financial and Business Transformation Officer (“CFO”) of International Flavors & Fragrances Inc. (the “Company”), notified the Company of his plans to retire from his position as CFO as of December 31, 2024.
On March 21, 2024, International Flavors & Fragrances Inc. (the “Company”) announced that, effective April 1, 2024, Simon Herriott, who has served as the Company’s President, Health & Biosciences and President, Scent since February 2021 and June 2023, respectively, is stepping down from his position as President, Scent.
On February 5, 2024, Barry Bruno notified International Flavors & Fragrances Inc. (the “Company”) of his decision not to stand for reelection at the Company’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”).
J. Erik Fyrwald has been appointed CEO of the Company and has been appointed to serve as a director of the Board.
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.
the Company has appointed Mr. Ferguson, who is currently a director of the Board, Chair of the Human Capital & Compensation Committee and a member of the Governance & Corporate Responsibility Committee, to serve as Chair of the Board, effective April 12, 2023
Max materiality 0.90 · Median 0.57 · Most common event leadership