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
Thales Powers CES*-Winning Post-Quantum Chip From Samsung Electronics7.1.2026 08:15:00 CET | Press release
*Consumer Electronics Show, January 6-9, Las Vegas, NV, USA Thales’ secure operating system (OS) supports Samsung's security chip, winner of the CES 2026 ‘Best Cybersecurity Innovation’ Award. The chip is the first embedded Secure Element (eSE) to integrate post-quantum cryptography (PQC), protecting devices against tomorrow’s quantum-enabled cyber threats. Thales’ quantum-resistant software and OS enable unmatched performance, energy efficiency and long-term data protection. Quantum computers, with their unprecedented processing power, will ultimately challenge today’s encryption standards. This is why Thales welcomes the CES 2026 recognition awarded to the new post-quantum–ready security chip from Samsung Electronics' System LSI Business, which embeds Thales’ secure operating system and quantum-resistant cryptographic libraries. This breakthrough represents a major step forward in protecting connected devices against both current cyberattacks and tomorrow’s quantum-era threats. This
Heath Hoglund Joins Sisvel as Chief IP Officer7.1.2026 07:00:00 CET | Press release
Sisvel is pleased to announce the appointment of Heath Hoglund as the company’s first-ever Chief Intellectual Property Officer. In this role he will be fully responsible for the firm’s patent pools on a global basis. One of the world’s top IP dealmakers, Hoglund joins Sisvel having taken the decision to leave Via Licensing, where he was an outstanding President for four years. Prior to that, he had been Vice-President of IP and Standards at Dolby, overseeing the company’s patent portfolio, its patent licensing programmes, and leading on the formation and design of numerous patent pools and standards initiatives. The appointment creates a new Licensing and Programme Management leadership structure at Sisvel. This will strengthen collaboration between the functions, increasing Sisvel’s considerable growth potential. Licensing and Programme Management heads, Nick Webb and David Muus, will continue to lead their respective areas, retaining all current responsibilities. Heath Hoglund’s trac
SymphonyAI and Matas Group are Redefining Health & Beauty in the Nordics With AI7.1.2026 06:07:00 CET | Press release
Matas Group partners with SymphonyAI to streamline category management, elevate the customer experience, and accelerate growth across key Nordic markets In the ever-evolving health and beauty landscape, Matas Group continues to set the standard for innovation and customer care. As the largest retailer in its sector across Denmark, Sweden, Finland, and Norway, Matas Group is committed to delivering unified, data-driven experiences to millions of customers — both online and in-store. That commitment now takes a leap forward as Matas selects SymphonyAI, a global leader in Vertical AI platforms, as its partner to modernize category management across the entire enterprise. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260107270530/en/ Exterior of a Matas Group retail store in Scandinavia. The leading Nordic health and beauty retailer is expanding its category management capabilities through a new partnership with SymphonyAI. Fol
Lenovo Supercharges Enterprise AI with the Launch of Agentic AI and Lenovo xIQ to Deliver Full-Lifecycle Hybrid AI at Scale7.1.2026 02:00:00 CET | Press release
Lenovo Agentic AI gives organizations the governance, tools, advice, and ongoing support needed to deploy and manage production-ready AI agents faster and smarter – turning AI ambition into measurable impact.Three new Lenovo xIQ delivery platforms strengthen Lenovo’s Hybrid AI Advantage™ by delivering the automation and governance enterprises need to scale AI with confidence. Lenovo today announced the next phase of its Hybrid AI Advantage™ with the launch of Lenovo Agentic AI, a new full-lifecycle enterprise solution for creating, deploying, and managing AI agents, and Lenovo xIQ a new suite of AI-native delivery platforms designed to simplify, accelerate, and operationalize AI across the enterprise. This evolution extends Lenovo’s established Hybrid AI Advantage™ from a foundational AI architecture to a more complete, lifecycle-driven approach for deploying and scaling AI across the enterprise. Lenovo Hybrid AI Advantage™ is Lenovo’s end-to-end enterprise AI portfolio, providing the
Lenovo Defines the Next Era of Hybrid AI with Personalized, Perceptive, and Proactive AI Portfolio at Tech World @ CES 20267.1.2026 02:00:00 CET | Press release
Lenovo announces Lenovo and Motorola Qira personal agentic AI across devices, new Motorola flagship smartphones, expanded portfolio of AI PCs, visionary proofs of concept including agentic-native wearables, and revolutionary inferencing servers alongside breakthroughs in AI technologies for FIFA, Formula 1®, and entertainment. Today at Tech World @ CES 2026 at Sphere in Las Vegas, Lenovo unveiled the boldest innovations yet for the future of Hybrid AI, introducing a new personal AI super agent, AI PCs and smartphones, proofs of concept including agentic-native wearables, next-generation enterprise AI infrastructure, and breakthrough industry collaborations in entertainment and sports. Building on years of AI innovation across devices, infrastructure, solutions, and services, Lenovo demonstrated how AI is now personal, perceptive, proactive, and everywhere. Lenovo’s new offerings adapt to individuals and organizations, operating as digital twins to orchestrate actions across ecosystems
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