International Flavors and Fragrances (IFF) has appointed J. Erik Fyrwald to succeed Frank Clyburn as Chief Executive Officer and member of the IFF Board of Directors, effective Feb. 6, 2024. IFF announced Clyburn will work closely with Fyrwald to ensure a seamless transition, remaining with IFF until March 31, 2024, and further serving in an advisory capacity through December 2024.
Fyrwald brings to IFF more than four decades of executive and operational experience in the nutrition, agriculture and chemicals industries. He most recently served as Chief Executive Officer of Syngenta, where he helped establish Syngenta Group as a leading player in agriculture for global food security, sustainability and regenerative agriculture. During his tenure, he spearheaded the strategy that ultimately doubled the business overseing the company’s acquisition by ChemChina, the formation of the Syngenta Group, and the growth of the business from revenue of approximately $13 billion in 2016 to approximately $33 billion in 2022. Prior to Syngenta, Fyrwald served as Chief Executive Officer of Univar Solutions, a leading global chemical and ingredient distributor and provider; President of EcoLab, a global leader in water, hygiene and infection prevention solutions and services; and Chairman and Chief Executive Officer of Nalco, a leading global provider of water treatment and oil and gas products and services that was acquired by EcoLab in 2011. Prior to Nalco, Fyrwald spent 27 years at DuPont, where he held positions of increasing responsibility in technology, manufacturing, sales and marketing, strategic planning and regional and global business unit leadership. Fyrwald received his bachelor’s degree from University of Delaware in 1981 and participated in Harvard Business School’s Advanced Management Program in 1998.
“Erik’s exceptional track record, passion for successful execution, customer-centric mindset and highly complementary industry experience will be invaluable as we capitalize on the significant value creation opportunities ahead of us. The Board is confident that Erik is the right executive to shepherd IFF through its next chapter as we execute on our strategic plan with a focus on driving long-term, profitable growth,” said Board Chair Roger W. Ferguson, Jr.
The company expects its full year 2023 sales to be in line with its previously stated guidance range of USD 11.3 billion to USD 11.6 billion. It also continues to expect full year 2023 adjusted operating EBITDA to be at the mid to high end of its previously stated guidance range of USD 1.85 billion to USD 2.0 billion.
IFF continues to execute its portfolio optimization initiatives, most recently through the announced sale of its cosmetic ingredients business unit for USD 810 million, which the company continues to believe will close in the first quarter of 2024.
