IFF CEO Goldstein Takes Helm To Steer Supplier Into Calmer Waters
This article was originally published in The Rose Sheet
Executive Summary
International Flavors & Fragrances CEO Richard Goldstein will unveil a strategic plan to drive top line growth while enhancing shareholder value, the newly appointed exec announced during a conference call April 26. The former Unilever president takes the helm June 1.
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IFF CEO
International Flavors & Fragrances CEO Richard Goldstein plans to retire from the company following its May 9 Annual Shareholder Meeting, fragrance and flavors supplier announces Jan. 17. An executive search firm has been hired to assist IFF in finding his successor, firm adds. Goldstein, who has served as CEO since 2000, says the company is "positioned to deliver long-term growth and increased value for shareholders" and thus, "the timing is now right to put this succession plan into effect." Goldstein formerly served as president and CEO Unilever U.S. and president of North American foods, and came to IFF during a transitional period in which the firm launched a major streamlining plan to increase earnings (1"The Rose Sheet" May 1, 2000, p. 11). IFF's board of directors notes during his tenure "Dick has overseen key strategic initiatives, including the successful acquisition and integration of Bush Boake Allen, and significant investments in product development and technology, which put IFF in a strong position"...
IFF CEO
International Flavors & Fragrances CEO Richard Goldstein plans to retire from the company following its May 9 Annual Shareholder Meeting, fragrance and flavors supplier announces Jan. 17. An executive search firm has been hired to assist IFF in finding his successor, firm adds. Goldstein, who has served as CEO since 2000, says the company is "positioned to deliver long-term growth and increased value for shareholders" and thus, "the timing is now right to put this succession plan into effect." Goldstein formerly served as president and CEO Unilever U.S. and president of North American foods, and came to IFF during a transitional period in which the firm launched a major streamlining plan to increase earnings (1"The Rose Sheet" May 1, 2000, p. 11). IFF's board of directors notes during his tenure "Dick has overseen key strategic initiatives, including the successful acquisition and integration of Bush Boake Allen, and significant investments in product development and technology, which put IFF in a strong position"...
IFF Reorganization Plan To Save $25 Mil.-$30 Mil. By 2003, CEO Predicts
International Flavors & Fragrances will generate annual savings of $25 mil.-$30 mil. by 2003 under a reorganization plan detailed by CEO Richard Goldstein during an analyst conference call Oct. 5.