IFF
This article was originally published in The Rose Sheet
Executive Summary
North American fragrance sales increased 3% in second quarter and 4% after six months, CEO Richard Goldstein told analysts during a July 20 conference call. Sales in Latin America increased 14% for the quarter, and Asia Pacific revenues were up 7%. Overall fragrance sales rose 1%, while consolidated sales slipped 1% $368.8 mil. Goldstein, who took IFF's helm June 1, is developing a strategic plan to drive top line growth while enhancing shareholder value (1"The Rose Sheet" May 1, p. 11). "Customers want [IFF] to be more engaged in product development and provide better awareness of consumer needs and expectations," Goldstein told analysts. The supplier's last restructuring effort in June 1999 involved a 5% cut workforce