NY-IFF
8.3.2021 12:57:12 CET | Business Wire | Press release
IFF (NYSE: IFF) today announced that it has reached an agreement with Sachem Head Capital Management LP (“Sachem Head”), under which Sachem Head will have the option for Managing Partner Scott Ferguson to join IFF’s Board of Directors between September 10, 2021 and December 31, 2021. Should Sachem Head choose to have Mr. Ferguson join the IFF Board, the Board would expand from 13 to 14 directors.
“We have engaged in constructive conversations with Sachem Head around our plans to achieve the full potential of our combination with DuPont’s N&B business for the benefit of all shareholders,” said IFF Chairman and Chief Executive Officer, Andreas Fibig. “This agreement reflects our commitment to continued shareholder engagement and long-term value creation as well as to ensuring we achieve the substantial cost and revenue synergies that we have identified in connection with the N&B transaction.”
Scott Ferguson, Managing Partner of Sachem Head, said, “The recent actions taken by IFF underscore the Company’s willingness to take action to generate long-term shareholder value. We appreciate the constructive and open dialogue we have had with IFF’s Board and leadership team.”
“The IFF Board of Directors values the views and input of our shareholders,” added Dale Morrison, Lead Independent Director of IFF. “We believe this agreement is in the best interests of IFF and its shareholders.”
Pursuant to the agreement, Sachem Head has agreed to certain standstill and voting provisions. The complete agreement entered into by IFF and Sachem Head will be included as an exhibit to a Current Report on Form 8-K filed with the Securities and Exchange Commission.
About Scott Ferguson
Scott Ferguson is the Founder and Managing Partner of Sachem Head Capital Management, a value-oriented investment management firm based in New York which he started in 2012. Prior to starting Sachem Head, he spent nine years at Pershing Square Capital Management, which he joined pre-launch as the firm's first investment professional. Prior to Pershing Square, Ferguson earned an M.B.A. from Harvard Business School in 2003 and was a Vice President at American Industrial Partners from 1999 to 2001. He was also a business analyst at McKinsey & Company from 1996 to 1999. Ferguson graduated from Stanford University with an A.B. in Public Policy in 1996. He currently serves on the boards of Olin Corporation, Elanco Animal Health Incorporated, and the Henry Street Settlement. He is also a member of the Robin Hood Leadership Council. He is a former director of Autodesk, Inc., a leading design & engineering software company.
Welcome to IFF
At IFF (NYSE: IFF), an industry leader in food, beverage, health, biosciences and sensorial experiences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com , Twitter , Facebook , Instagram , and LinkedIn .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210308005404/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ant International Launches Industry's First Full-Stack AI-Native Solutions for Payment, Account, FX, Treasury and Growth Operations for Global Businesses18.9.2026 08:53:00 CEST | Press release
In its largest-ever product upgrade, the company unveils an industry-first AI-native, end-to-end full financial stack with close to 100 key products across 4 business pillars.Built on newly upgraded Antom 3-in-1 Transformer, our payment foundation model, and FalconTST, our AI FX & liquidity forecast model.Underpinned by an agent-ready, 2-layered trust and security framework, and a governance-by-design approach that keeps us aligned with evolving compliance and regulatory environments.Autopilots for payment, account and treasury management embedded in the end-to-end financial stack to manage the five main workstreams in natural-language interaction.Introduces agent-native solutions including world's first Account for Agent (AFA) for businesses.89.5% of clients of our main merchant payment service already deployed our FinAI solutions in past 12 months. 81.4% of payment tasks were completed with AI help. In an industry first, Ant International launched a full stack of AI-native solutions
Takeda Employees Select Four New Global Corporate Social Responsibility Collaborations to Advance Climate-Resilient Health Systems18.9.2026 07:00:00 CEST | Press release
2026 Awardees are Corus International,Humanity & Inclusion Handicap International, Kwame Nkrumah University of Science and Technology (KNUST) and Terre des hommes Foundation (Tdh)Commitment of USD 22.2 Million Increases Takeda’s Total Global CSR Program Contributions to USD 260.9 Million Across 42 Diverse Collaborations Worldwide, With 20 Currently Ongoing in 42 Countries Takeda (TSE:4502/NYSE: TAK) announced that it has awarded a total of USD 22.2 million to four new Global Corporate Social Responsibility (CSR) partners as part of the company’s ongoing commitment to supporting climate-resilient health systems in low- and middle-income countries around the world and aligned with the company’s purpose of better health for people, brighter future for the world. As climate change, extreme weather events and shifting global aid priorities continue to challenge healthcare access, Takeda is advancing its 2026 collaborations with the goal of expanding equitable access, strengthening health sy
Beacon Acquires Haize Labs to Power AI for the Real Economy17.9.2026 16:30:00 CEST | Press release
Haize Labs leadership will anchor Beacon’s new applied AI research group, accelerating the deployment of AI across the essential businesses Beacon owns Beacon Software (Beacon), the first centralized AI holding company, today announced that it has acquired Haize Labs, an AI reliability company that tests and safeguards AI agents for real-world deployment. The Haize Labs team will join Beacon to form its Applied AI Research Group, with co-founder and CEO Leonard Tang joining as VP of AI Research to lead the AI operating system that is deployed across Beacon’s companies. Beacon believes that the fastest way to bring AI to the traditional economy is through the software businesses that essential industries already use and trust, equipping them with AI infrastructure. Beacon acquires these businesses for long-term growth and connects them to a centralized AI operating system that compounds with each additional acquisition and industry. The addition of the Haize Labs team will strengthen th
TIMELAB Develops OEM/ODM Hair Straightener Reaching 200°C at All Three Measured Points in 15 Seconds17.9.2026 16:00:00 CEST | Press release
Testing at 230 V with a 260°C setting confirmed at least 200°C after 15 seconds at all three measured plate locations (front, center and rear), not just a single point. TIMELAB Co., Ltd., a Japanese beauty-appliance OEM/ODM provider, has developed a hair straightener for OEM/ODM customization for international hair care brands and professional markets. In testing at 230 V with a 260°C setting, all three measured plate locations reached at least 200°C after 15 seconds. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260914187865/en/ Three-Point Plate Testing A European-market development unit with a maximum setting of 260°C was tested at 230 V. Fifteen seconds after power-on, readings at the front, center and rear were 212.5°C, 227.5°C and 200.0°C, respectively. From around 60 seconds onward, temperature differences among the three points narrowed, indicating a stable trend. Precision Temperature Control An NTC sensor inside t
Earnix Brings Agentic AI to the Decisions That Drive Insurance Performance17.9.2026 15:09:00 CEST | Press release
Agent Hub, part of Earnix AIOS, brings more than 25, insurance-specific agents and apps into Earnix’s governed pricing, underwriting, and customer decision solutions- improving workflows and business performance Earnix today announced the introduction of Agent Hub, a curated catalog of insurance-specific AI agents and apps within Earnix AIOS — the AI Orchestration System powering Earnix’s pricing and rating, underwriting, and customer engagement solutions. Agent Hub brings agentic AI directly into these solutions, enabling more intelligent workflows and strengthening the high-stakes decisions that shape pricing, underwriting, customer engagement, growth, and profitability. In an increasingly turbulent insurance environment, the useful life of an insurance decision is getting shorter. Risk and market conditions are changing faster, making growth, profitability, and portfolio performance harder to manage. AI is increasing the speed and scope of what insurers can analyze, recommend, and i
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom