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IFF’s New CEO: Commercial Execution Strategy Will Get Biz Back On Track

Executive Summary

Under CEO Erik Fyrwald, IFF is committed to improving commercial execution across its four businesses after five years of overall underperformance.

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IFF Narrows Focus To Fragrance, Health, Food

International Flavors & Fragrances agrees to sell its Pharma Solutions business to plant-based ingredients company Roquette for an enterprise value of $2.85bn to reduce debt and streamline its business to three segments, including scents.

Beautycounter Founder Returns As CEO; Inter Parfum’s FY2023 Results; Cosmetics News

Gregg Renfrew will start as CEO at the company she founded on 1 February. Separately, International Flavors & Fragrances taps J. Erik Fyrwald to succeed Frank Clyburn as CEO, Inter Parfums reports fiscal 2023 full-year results, Yellow Wood Partners acquires Chapstick, and more.

IFF Sells Cosmetic Ingredients Biz To Clariant For $810M

Clariant believes it can grow International Flavors & Fragrances’ cosmetic ingredients business, principally Lucas Meyer active ingredients, functional ingredients and delivery systems, from $100m in sales annually to $180m by 2028. IFF will use proceeds from that and other recent divestures to pay down debt.

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