International Flavors & Fragrances Inc. (IFF, Financial) has announced several notable changes to its board of directors, effective from January 1, 2025. This strategic reshuffle is aimed at strengthening the company's governance and aligning with its future objectives.
Three current board members, Roger W. Ferguson, Jr., John Davidson, and Christina Gold, have decided not to stand for reelection at the 2025 Annual Meeting of Stockholders. They will continue to serve until the expiration of their terms at the meeting. The company clarified that their decisions were not due to any disagreements with IFF's management or board.
Kevin O’Byrne has been appointed to succeed Roger W. Ferguson, Jr. as Chair of the Board, contingent upon his re-election at the 2025 Annual Meeting. Ferguson will maintain his role as Chair until then.
Additionally, Vincent Intrieri will replace Gary Hu as the Icahn Designee director, following a request from Icahn Capital LP. Gary Hu will step down from the board on December 31, 2024, with no disagreements cited regarding his departure.
In a move to enhance the board's expertise, IFF has appointed Cynthia Jamison, Dr. Mehmood Khan, and Vincent Intrieri as new board members. Cynthia Jamison, a seasoned executive with extensive financial leadership experience, will join the Audit and Transaction Committees. Dr. Mehmood Khan, known for his work in healthspan science, will be part of the Innovation Committee. Vincent Intrieri, with a strong background in investment management, will also serve on the Audit and Transaction Committees.
These appointments are part of IFF's ongoing efforts to leverage diverse expertise and drive strategic growth. The new directors will participate in the non-employee director compensation arrangements as outlined in IFF's 2023 Proxy Statement.
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