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July 05, 2015 2:46 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: 53
Total Annual Compensation: $1.4M
Interim Chief Financial Officer, Vice President and Controller
Age: 55
Total Annual Compensation: $302.9K
Group President of Fragrances
Age: 52
Total Annual Compensation: $532.5K
Group President of Flavors
Age: 49
Total Annual Compensation: $445.7K
Senior Vice President, General Counsel and Corporate Secretary
Age: 56
Total Annual Compensation: $465.0K
Compensation as of Fiscal Year 2014.

International Flavors & Fragrances Inc. Key Developments

International Flavors & Fragrances Inc. Presents at Deutsche Bank db Access Global Consumer Conference 2015, Jun-11-2015 08:30 AM

International Flavors & Fragrances Inc. Presents at Deutsche Bank db Access Global Consumer Conference 2015, Jun-11-2015 08:30 AM. Venue: Paris, France. Speakers: Richard A. O'Leary, Interim Chief Financial Officer, Vice President and Controller.

International Flavors & Fragrances Inc. Provides Earnings Guidance for the Second Quarter of 2015 and Fiscal 2020; Revises Earnings Guidance for the Fiscal 2015

International Flavors & Fragrances Inc. provides earnings guidance for the second quarter of 2015 and fiscal 2020. For the second quarter of 2015, the currency-neutral sales growth will be about 4% excluding the Ottens acquisition. The company expects Ottens to add approximately 1% of growth to the second quarter with a minimal impact on operating profit. Overall, operating profit, including the impact of currency, is expected to be flat to down low single digits and up 6% to 8% on a currency-neutral basis. As the company implements the new strategy for Vision 2020, the company expects to deliver sales growth of 4% to 6%, operating profit of 7% to 9% and an EPS of 10% growth, all on a currency-neutral basis. For 2015, the company expects currency-neutral sales to be within 4% to 6% range with another 1 to 1.5 points benefit associated with the Ottens acquisition. And from an operating profit perspective, the company expects operating profit on a currency-neutral basis, excluding Ottens, to be at the lower end of the 7% to 9% range. Over the last several years, the company has averaged between 4% and 4.5% of sales invested in capital expenditures. The company see this cycle ending with the completion of Indonesia and Turkey investments during 2015. And as such, the company expects CapEx as a percent of sales to reduce to more normal levels of 3% to 3.5% of sales over the next couple of years.

International Flavors & Fragrances Inc. Announces Executive Changes

International Flavors & Fragrances Inc. announced that Alison A. Cornell will join its management team as Executive Vice President and Chief Financial Officer, effective July 8, 2015. Ms. Cornell’s career spans nearly 30 years in key leadership roles where she was responsible for accelerating revenue growth, improving operating performance, streamlining processes and developing talent. She joins IFF from Covance Inc. In her role as Covance’s Corporate Senior Vice President and Chief Financial Officer, Ms. Cornell was responsible for all financial management, including financial reporting and analytics, capital allocation and strategic planning. During her 10-year Covance career, she held successively senior roles in finance, including positions in Global Financial Planning & Analysis, and Finance for Late Stage Development Services. Ms. Cornell, has most recently served as Corporate Senior Vice President and Chief Financial Officer of Covance Inc. Richard A. O’Leary, who was serving as Interim Chief Financial Officer, will continue as the Company’s Senior Vice President, Controller and Chief Accounting Officer as of the Effective Date.

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Recent Private Companies Transactions

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Date
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Merger/Acquisition
June 12, 2015
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