NY-IFF
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
UBS and Ant International Partner on Blockchain-Based Real-Time Cross-Border Payments Settlement and Liquidity Management17.11.2025 05:42:00 CET | Press release
UBS has entered a strategic partnership with Ant International, a leading global digital payment, digitisation, and financial technology provider, to explore innovations in blockchain-based tokenised deposits to support Ant International’s global payments settlement and liquidity management. Both parties signed a Memorandum of Understanding (MoU) at UBS’s flagship office at 9 Penang Road in Singapore. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251116743090/en/ From left to right: Young Jin Yee, Co-Head UBS Global Wealth Management Asia Pacific and Country Head Singapore, Kay Tin Khoo, Head Corporate Institutional Clients Asia Pacific, UBS, Kelvin Li, General Manager of Platform Tech at Ant International, and Douglas Feagin, President of Ant International at the MoU signing ceremony at UBS Singapore office at 9 Penang Road. Under the MoU, Ant International will leverage UBS Digital Cash, a blockchain-based payment platfor
Nitto Extends Partnership with the ATP Until 203017.11.2025 04:24:00 CET | Press release
Nitto Denko Corporation (Headquarters: Osaka, Japan; President: Hideo Takasaki; hereafter “Nitto”)(TOKYO:6988) is pleased to announce the extension of its partnership with the ATP for an additional five years, through 2030. Under this renewed agreement, Nitto will continue its role as the Title Partner of the Nitto ATP Finals, the season-ending championship, in collaboration with the ATP and the Italian Tennis and Padel Federation (FITP). By sponsoring this tournament, recognized as one of the most sustainable events on the ATP Tour, Nitto aims to inspire and amaze while pursuing further growth as a global company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251116197903/en/ Nitto Extends Partnership with the ATP Until 2030 : ©Corinne Dubreuil/ATP Tour Since 2017, Nitto has served as the Title Partner of the Nitto ATP Finals―the year-end climax of the men's professional tennis circuit featuring the world’s the top eight s
AIT Worldwide Logistics’ Global Expansion Continues With First Facility in Indonesia17.11.2025 04:01:00 CET | Press release
Jakarta office launches in response to demand for logistics expertise in Southeast Asia As part of its ongoing organic expansion strategy, global supply chain solutions leader, AIT Worldwide Logistics, opened its first office in Jakarta, Indonesia. The new facility represents the eighth country in the AIT-Asia network and exemplifies the company’s adaptability and flexibility in response to customer demands in the region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251116717860/en/ Teammates gathered to celebrate the grand opening of AIT-Jakarta. According to AIT’s Chief Strategy Officer, Greg Weigel, the team in Jakarta will collaborate with AIT’s expansive global network to quickly customize sea, air and road solutions unique to each client’s organizational needs, with a particular focus on the region’s flourishing industrial, technology and telecommunications sectors. “Jakarta is a pivotal market for us as we continue
Sofinnova Partners Closes €650M ($750M) Capital XI, Greatly Exceeding Initial Target to Back Early-Stage Healthcare Deals17.11.2025 01:01:00 CET | Press release
Total capital raised across Sofinnova’s platform reaches €1.5Bn over the past year Sofinnova Capital XI is actively investing in early-stage biotech and medtech companies across Europe and the US Sofinnova Partners (“Sofinnova"), a leading European life sciences venture capital firm based in Paris, London, and Milan, today announced the close of its latest flagship fund, Sofinnova Capital XI, at €650 million ($750 million), greatly exceeding its initial target. Sofinnova Capital XI will back a new generation of pioneering biopharmaceutical and medical technology companies addressing urgent unmet clinical needs. In keeping with Sofinnova’s multi-strategy platform model, Capital XI draws on the strength of its experienced team, including Partners Maina Bhaman, Anta Gkelou, Karl Naegler, Antoine Papiernik, Henrijette Richter, and Graziano Seghezzi. Sofinnova Capital XI attracted strong support from a global base of blue-chip institutional investors—among them sovereign wealth funds, leadi
China’s Top Baijiu Brand Moutai Showcases China's Green Progress in Manufacturing at COP3015.11.2025 17:41:00 CET | Press release
On November 10 local time, the 30th United Nations Climate Change Conference (COP30) opened in Belem, a city in northern Brazil. As one of the activities at the China Pavilion of COP30, the Side Event on Ecological Civilization and Beautiful China Practice was held simultaneously, focusing on ecological civilization, sharing China's experience, and building global consensus. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251114596036/en/ China Pavilion at COP30 in Belem, Brazil. Addressing the topic of green transformation in traditional industries, You Yalin, Deputy Party Secretary of Kweichow Moutai Co., Ltd., shared the company's green transformation practices and experiences from the perspective of a traditional Chinese liquor producer. “We hope that every bottle of Moutai not only delivers a feast of flavor, but also conveys the idea of harmony between humans and nature. We aim to contribute China's wisdom and Moutai's
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