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
Quectel Announces Industry First 5G-Advanced 3GPP R18 Automotive-Grade Cellular Module, Delivering Unmatched Performance and Reliability2.1.2026 18:00:00 CET | Press release
Quectel Wireless Solutions, an end-to-end global IoT solutions provider, today announces the launch of the world's first 5G-advanced (5G-A) automotive-grade cellular module, the AR588MA, establishing it as the industry's highest-performing and most reliable wireless communication product for vehicles. Based on MediaTek's latest-generation MT2739 platform, the AR588MA supports 5G-A communication technology and is the world's first to comply with the 3GPP R18 standard protocol. The module also features both NB-NTN and NR-NTN satellite communication capabilities, supports Dual SIM Dual Active (DSDA) technology, offering improved stability and reliability on cellular connections and includes intelligent driving scenario recognition. Designed in compliance with the AEC-Q104 Grade 2 automotive standard, it delivers faster, more stable connectivity and reliable security for in-vehicle communication and benefiting the on-roof applications like smart antenna for automotive with higher temperatu
Interactive Brokers’ Individual and Hedge Fund Clients Outperformed the S&P 500 on Average in 20252.1.2026 16:00:00 CET | Press release
Lower costs, global market access, and efficient execution contributed to stronger client outcomes. Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced that its clients outperformed the S&P 500 Index in 2025, reflecting the benefits of cost efficiency, execution quality, and broad access to global markets. In 2025, Interactive Brokers’ individual clients achieved an average return of 19.20%, compared with the 17.9% return of the S&P 500 Index. During the same period, Interactive Brokers’ hedge fund clients achieved an average return of 28.91%, outperforming the index by approximately 11 percentage points. These results demonstrate how Interactive Brokers helps enhance client returns across the investment lifecycle. Global market access enables clients to allocate capital across various regions and asset classes, while lower trading and financing costs, along with efficient execution, help IBKR investors retain more of their returns over time. “Inv
Aeromexico Repeats as Most On-Time Global Airline; Qatar Airways Claims Platinum Award2.1.2026 11:00:00 CET | Press release
Virgin Atlantic wins new award as most improved airline for on-time performance Aeromexico maintained a 90.02% on-time performance to claim the world's most on-time global airline title for the second consecutive year, according to Cirium's 2025 On-Time Performance Review released today. The Mexican carrier becomes only the second airline to achieve consecutive global wins since Cirium launched the program in 2009, operating 188,859 flights across 23 countries while maintaining industry-leading schedule reliability. Aeromexico Holds Global Lead; Regional Champions Crowned Aeromexico secured the global airline title with 90.02% on-time performance, holding off strong competition from Saudia in second place with 86.53% and SAS with 86.09% in third. The margin between first and third place was 3.93 percentage points, reflecting the strong performance of Aeromexico in 2025. Regional winners included: North America: Delta Air Lines won for the fifth consecutive year with 80.90% on-time perf
Samsung Bioepis Begins Commercialization of BYOOVIZ®, Biosimilar to Lucentis (Ranibizumab), in Europe2.1.2026 08:00:00 CET | Press release
Samsung Bioepis completes full transfer of commercial rights from Biogen back to Samsung Bioepis for BYOOVIZ®BYOOVIZ becomes the fourth biosimilar directly commercialized by Samsung Bioepis in Europe, following EPYSQLI® (eculizumab), OBODENCE® (denosumab), and XBRYK® (denosumab)Pre-filled syringe (PFS) presentation to become available in Europe in the second quarter of 2026 Samsung Bioepis Co., Ltd. today announced that the company has begun direct commercialization of BYOOVIZ®, a biosimilar to Lucentis1 (ranibizumab), in Europe. Samsung Bioepis has been working to ensure seamless transfer of commercial rights from Biogen back to Samsung Bioepis, and BYOOVIZ will now be available as a Samsung Bioepis brand across multiple European countries. “This is a significant milestone for Samsung Bioepis as the company continues to strengthen its presence in Europe by expanding its portfolio of directly commercialized products. Leveraging the past three years of experience with EPYSQLI (eculizuma
Cessna Citation Ascend Enters Into Service, Redefining Performance and Cabin Experience in the Midsize Business Jet Market31.12.2025 15:00:00 CET | Press release
The Cessna Citation Ascend achieved a major milestone as the first retail customer took delivery of the midsize business jet on Tuesday, December 30, marking the aircraft’s entry into service. Announced in 2023 the aircraft boasts an entirely new cockpit, improved performance and a luxurious flat floor cabin. The Citation Ascend received type certification from the Federal Aviation Administration (FAA) in November 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251231586042/en/ Cessna Citation Ascend enters into service, redefining performance and cabin experience in the midsize business jet market. (Photo credit: Textron Aviation) The Cessna Citation Ascend is designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company. “The first Citation Ascend delivery underscores Textron Aviation’s commitment to redefining the midsize segment with an aircraft that blends innovation, efficiency and unmatch
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