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 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).
Q2 2025 sales were $2.8B, reported EPS $2.38, operating EBITDA $552M at 20.0% margin.
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%.
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 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 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 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%.
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 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.
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 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 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.
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