International Flavors & Fragrances Inc. (IFF) has appointed Frank Clyburn to succeed Andreas Fibig as chief executive officer and a member of the IFF board of directors, effective February 14, 2022.
Clyburn joins IFF from Merck & Co., where he currently serves as executive vice president and president of human health, and has full P&L responsibility for nearly 90% of Merck’s $48 billion business. Clyburn brings extensive experience leading complex global businesses and executing with exceptional operating discipline. He has an in-depth understanding of R&D, extensive integration and M&A experience, and an ability to connect with customers and stakeholders. He has built his career around impactful execution, and while at Merck, built one of the leading oncology business in the world and the largest business within the company.
“Frank is the best executive to lead IFF into its next chapter at the pace we need. His strong operating experience plus his hands-on approach and customer-centric perspective will accelerate the execution of IFF’s strategic and operating priorities,” said Dale Morrison, IFF director.
Ed Breen, IFF director, added “Frank joins IFF at a time when there are significant value creation opportunities ahead of us. We are confident in his ability to unlock profitable growth, capture synergies, maximize the N&B integration and optimize IFF’s portfolio to deliver strong value for shareholders.”
“I am honored to serve as IFF’s next CEO,” said Clyburn. “This is an iconic company and industry leader with tremendous opportunity to deliver outstanding customer experience and long-term, sustainable growth. The purpose and vision of IFF is very closely linked with accelerating global trends of nutrition, wellness, and sustainability, which means that together, colleagues around the world can deliver significant value for both customers and shareholders. Working with IFF’s world-class talent, unrivaled offerings, and impressive innovation platform, I am excited to bring my approach to executional excellence to capitalize on IFF’s bright future.”
“I am pleased to welcome Frank into the chief executive role,” said Andreas Fibig. “He joins IFF at a time when we are delivering our full year 2021 financial goals, with strong demand continuing in the first quarter. I am confident that Frank will excite and energize our teams around the world, and I wish him all the best as IFF’s next chapter unfolds under his leadership.”
The company also announced its decision to separate the chairman and CEO roles. Morrison, long-standing IFF director, will assume the role of non-executive chairman of the board of directors, effective February 14, 2022. Breen will remain on the board as an independent director and the company will no longer have the lead independent director role.
IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences.