UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On September 30, 2021, International Flavors & Fragrances Inc. (the “Company”) announced Mr. Andreas Fibig, who is currently Chief Executive Officer (“CEO”) of International Flavors & Fragrances Inc. (“IFF” or the “Company”) and a director and Chair of the Company’s Board of Directors (“Board”), plans to retire as CEO and a director and Chair of the Board. Mr. Fibig will continue in his current role as CEO and a director and Chair of the Board until the Board appoints a successor CEO, which is expected by early 2022. Mr. Fibig has also agreed to stay on after the appointment of a successor CEO to assist in the transition for a period of time to be mutually agreed by the Company and Mr. Fibig, but in no event later than June 30, 2022.
Mr. Fibig’s departure following the appointment of a successor CEO will be treated as a qualifying event for purposes of IFF’s executive severance policy. In addition, consistent with Mr. Fibig’s letter agreement with the Company, dated May 19, 2014, the Compensation Committee of the Board has agreed to accelerate, effective as of such separation date, the vesting of all of his then outstanding unvested equity awards at target performance levels.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INTERNATIONAL FLAVORS & FRAGRANCES INC. | ||
| By: | /s/ Jennifer Johnson | |
| Name: | Jennifer Johnson | |
| Title: | Executive Vice President and General Counsel | |
| Dated: | September 30, 2021 | |
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