International Flavors & Fragrances Appoints Michael DeVeau as Executive Vice President and CFO

International Flavors & Fragrances Inc. (NYSE: IFF) recently disclosed in an 8-K filing that Mr. Michael DeVeau has been appointed as the Executive Vice President and Chief Financial Officer, effective January 1, 2025. This announcement follows the retirement of Glenn Richter, the current Executive Vice President and CFO, who will step down from his role on December 31, 2024.

Mr. DeVeau, aged 44, brings over a decade of experience with the company, having held various senior finance leadership positions globally. His roles have ranged from Senior Vice President of Corporate Finance and Investor Relations to Chief Strategy Officer, where he played a pivotal role in shaping the company’s strategic direction. Before joining International Flavors & Fragrances, Mr. DeVeau held significant positions at PepsiCo and began his career as an equity research analyst at Citigroup Investment Research.

In connection with Mr. DeVeau’s new role, the Human Capital & Compensation Committee of the Board of Directors approved a competitive compensation package. It includes a base salary of $700,000, an annual bonus target representing 90% of his base salary, and a long-term incentive plan with a target grant date fair value of $2,200,000, totaling $3,530,000.

The company clarified that there were no undisclosed arrangements concerning Mr. DeVeau’s appointment and no relevant family relationships between Mr. DeVeau and the company’s officers or directors. Additionally, Mr. DeVeau is not engaged in any business transactions that require disclosure under Regulation S-K Item 404(a).

The filing concludes with signatures from International Flavors & Fragrances Inc., affirming the accuracy of the report.

This news brings insight into the senior leadership transition within International Flavors & Fragrances Inc. as the company prepares for strategic financial management under Mr. DeVeau’s stewardship.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read International Flavors & Fragrances’s 8K filing here.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.