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International Flavors & Fragrances Inc. (NYSE:IFF), a New York-based producer of flavors and fragrances, disclosed the upcoming departure of a key executive in a recent SEC filing. Jennifer Johnson, Executive Vice President, General Counsel, and Corporate Secretary, has tendered her resignation on March 12, 2025.
Johnson, who has been a significant part of IFF’s leadership team, will continue her duties with the company until July 1, 2025, to facilitate a smooth transition of her responsibilities. The company stated that her resignation is considered a qualifying event under IFF’s executive severance policy. Details of the severance terms were not disclosed in the filing.
The company has not yet announced a successor for Johnson’s role. The announcement comes as IFF continues to maintain its position within the industrial organic chemicals sector, providing various products and services under its 08 Industrial Applications and Services organization name.
International Flavors & Fragrances Inc. is incorporated in New York and has its principal executive offices located at 521 West 57th Street, New York, New York, 10019. The company’s common stock and 1.800% Senior Notes due 2026 are both listed on the New York Stock Exchange under the symbols "IFF" and "IFF 26," respectively.
This news is based on a press release statement and the company’s commitment to transparency in its corporate governance practices. As of now, IFF has not provided any further details regarding the reasons for Johnson’s departure or the search for her replacement. The company’s next steps in terms of leadership restructuring remain to be seen as they navigate this transition period. The company maintains a FAIR financial health score of 2.34 according to InvestingPro metrics, suggesting stable operational performance during this transition.
In other recent news, International Flavors & Fragrances Inc. (IFF) reported impressive financial results for the fourth quarter of 2024, with earnings per share reaching $0.97, surpassing the projected $0.82. The company also exceeded revenue expectations, reporting $2.8 billion against a forecast of $2.69 billion. Additionally, IFF announced a $70 million expansion of its Cedar Rapids, Iowa facility, aimed at bolstering its presence in the healthy snacks market and creating up to 40 new jobs. In a strategic leadership change, Simon Herriott, President of the Health & Biosciences division, will depart in March 2025, with Leticia Goncalves Lourenço set to take over. The company continues to emphasize innovation and R&D investments, despite soft customer volumes affecting market sentiment. IFF’s recent developments also include an improved debt metric and positive cash flow expectations for 2025. Furthermore, the company has outlined a cautious sales guidance for 2025, anticipating growth in its Health and Biosciences, Taste, and Scent segments.
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