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May 30, 2015 10:58 AM ET

Chemicals

Company Overview of International Flavors & Fragrances Inc.

Company Overview

International Flavors & Fragrances Inc., together with its subsidiaries, creates, manufactures, and supplies flavors and fragrances for use in various consumer products worldwide. The company operates in two segments, Flavors and Fragrances. The Flavors segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products. The Fragrances segment provides functional fragrances, including fragrance compounds for personal care and household products, and fine fragrance and beauty care; and fragrance ingredients comprising synthetic and natural ingredients that could be combined with other ma...

521 West 57th Street

New York, NY 10019

United States

Founded in 1833

6,211 Employees

Phone:

212-765-5500

Fax:

212-708-7132

Key Executives for International Flavors & Fragrances Inc.

Chairman and Chief Executive Officer
Age: 52
Total Annual Compensation: $1.4M
Interim Chief Financial Officer, Vice President and Controller
Age: 54
Total Annual Compensation: $302.9K
Group President of Fragrances
Age: 51
Total Annual Compensation: $532.5K
Group President of Flavors
Age: 48
Total Annual Compensation: $445.7K
Senior Vice President, General Counsel and Corporate Secretary
Age: 55
Total Annual Compensation: $465.0K
Compensation as of Fiscal Year 2014.

International Flavors & Fragrances Inc. Key Developments

International Flavors & Fragrances Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance for the Year 2015

International Flavors & Fragrances Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2015. Reported sales increased $4.7 million, or 1%, to $774.9 million from $770.2 million in the prior year quarter. On a reported basis, operating profit rose $5.7 million, or 4%, to $161.8 million from $156.1 million in the prior year quarter and reported diluted EPS rose 21% to $1.57 from $1.30. Pretax income was $156.408 million against $142.933 million a year ago. Net income was $128.258 million against $106.707 million a year ago. Net cash provided by operating activities was $31.476 million against $34.993 million a year ago. Additions to property, plant and equipment was $19.381 million against $33.836 million a year ago. Adjusted operating profit grew 10% on a currency neutral basis to $163 million. This improvement was driven by strong sales growth combined with manufacturing and RSA cost leverage. Adjusted diluted EPS grew 10% to $1.45, driven by improvements in adjusted operating profit, foreign exchange gains on working capital and other income, a lower adjusted effective tax rate and interest expense as well as a reduced shares outstanding. The company expects to capital expenditure to be between 4% and 4.5% of sales in 2015 on growth in infrastructure initiatives, specifically the company's new plants in Turkey and Indonesia.

International Flavors & Fragrances Inc. Elects John Ferraro to the Board of Directors

International Flavors & Fragrances Inc. announced that John Ferraro, former Global Chief Operating Officer of Ernst & Young, has been elected to the company's Board of Directors, effective immediately. John brings his extensive accounting, auditing and executive experience working with large and global corporations. Prior to this role, Mr. Ferraro served in several leadership positions, including as Global Vice Chair of Audit and as the senior advisory partner on some of the firm's global accounts. Mr. Ferraro also serves as a director of Advance Auto Parts, is a member of the Boston College High School board of trustees, and sits on the board of the Business Council for International Understanding. Mr. Ferraro also serves as Chair of the Marquette University Board of Trustees. He is a CPA and a member of the American Institute of Certified Public Accountants.

International Flavors & Fragrances Inc. Approves Amendment to By-Laws to Decrease the Number of Directors from Twelve to Ten, Effective May 6, 2015

International Flavors & Fragrances Inc. announced that in connection with the election of ten directors at the company's annual meeting held on May 6, 2015, the Board of Directors of the company approved an amendment to Article II, Section 2 of the company's By-Laws to decrease the number of directors from twelve (12) to ten (10) effective May 6, 2015.

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