{"id":452314,"date":"2021-03-08T06:58:13","date_gmt":"2021-03-08T11:58:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=452314"},"modified":"2021-03-08T06:58:13","modified_gmt":"2021-03-08T11:58:13","slug":"iff-announces-agreement-with-sachem-head","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-announces-agreement-with-sachem-head\/","title":{"rendered":"IFF Announces Agreement With Sachem Head"},"content":{"rendered":"

<\/p>\n

IFF Announces Agreement With Sachem Head<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nIFF (NYSE: IFF) today announced that it has reached an agreement with Sachem Head Capital Management LP (\u201cSachem Head\u201d), under which Sachem Head will have the option for Managing Partner Scott Ferguson to join IFF\u2019s Board of Directors between September 10, 2021 and December 31, 2021. Should Sachem Head choose to have Mr. Ferguson join the IFF Board, the Board would expand from 13 to 14 directors.\n<\/p>\n

\n\u201cWe have engaged in constructive conversations with Sachem Head around our plans to achieve the full potential of our combination with DuPont\u2019s N&B business for the benefit of all shareholders,\u201d said IFF Chairman and Chief Executive Officer, Andreas Fibig. \u201cThis agreement reflects our commitment to continued shareholder engagement and long-term value creation as well as to ensuring we achieve the substantial cost and revenue synergies that we have identified in connection with the N&B transaction.\u201d\n<\/p>\n

\nScott Ferguson, Managing Partner of Sachem Head, said, \u201cThe recent actions taken by IFF underscore the Company\u2019s willingness to take action to generate long-term shareholder value. We appreciate the constructive and open dialogue we have had with IFF\u2019s Board and leadership team.\u201d\n<\/p>\n

\n\u201cThe IFF Board of Directors values the views and input of our shareholders,\u201d added Dale Morrison, Lead Independent Director of IFF. \u201cWe believe this agreement is in the best interests of IFF and its shareholders.\u201d\n<\/p>\n

\nPursuant to the agreement, Sachem Head has agreed to certain standstill and voting provisions. The complete agreement entered into by IFF and Sachem Head will be included as an exhibit to a Current Report on Form 8-K filed with the Securities and Exchange Commission.\n<\/p>\n

About Scott Ferguson<\/span><\/b><\/p>\n

\nScott Ferguson is the Founder and Managing Partner of Sachem Head Capital Management, a value-oriented investment management firm based in New York which he started in 2012. Prior to starting Sachem Head, he spent nine years at Pershing Square Capital Management, which he joined pre-launch as the firm’s first investment professional. Prior to Pershing Square, Ferguson earned an M.B.A. from Harvard Business School in 2003 and was a Vice President at American Industrial Partners from 1999 to 2001. He was also a business analyst at McKinsey & Company from 1996 to 1999. Ferguson graduated from Stanford University with an A.B. in Public Policy in 1996. He currently serves on the boards of Olin Corporation, Elanco Animal Health Incorporated, and the Henry Street Settlement. He is also a member of the Robin Hood Leadership Council. He is a former director of Autodesk, Inc., a leading design & engineering software company.\n<\/p>\n

Welcome to IFF<\/span><\/b><\/p>\n

\nAt IFF (NYSE: IFF), an industry leader in food, beverage,health, biosciences and sensorial experiences, science and creativity meet to create essential solutions for a better world \u2013 from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com<\/a>, Twitter<\/a> , Facebook<\/a>, Instagram<\/a>, and LinkedIn<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210308005404\/en\/<\/a><\/span><\/p>\n

\nMichael DeVeau
\n
Chief Investor Relations & Communications Officer
\n
212.708.7164
\n
Michael.DeVeau@iff.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Cosmetics Retail Food\/Beverage<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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IFF Announces Agreement With Sachem Head NEW YORK–(BUSINESS WIRE)– IFF (NYSE: IFF) today announced that it has reached an agreement with Sachem Head Capital Management LP (\u201cSachem Head\u201d), under which Sachem Head will have the option for Managing Partner Scott Ferguson to join IFF\u2019s Board of Directors between September 10, 2021 and December 31, 2021. Should Sachem Head choose to have Mr. Ferguson join the IFF Board, the Board would expand from 13 to 14 directors. \u201cWe have engaged in constructive conversations with Sachem Head around our plans to achieve the full potential of our combination with DuPont\u2019s N&B business for the benefit of all shareholders,\u201d said IFF Chairman and Chief Executive Officer, Andreas Fibig. \u201cThis agreement reflects our commitment … <\/p>\n

Continue reading “IFF Announces Agreement With Sachem Head”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-452314","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nIFF Announces Agreement With Sachem Head - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iff-announces-agreement-with-sachem-head\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFF Announces Agreement With Sachem Head - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"IFF Announces Agreement With Sachem Head NEW YORK–(BUSINESS WIRE)– IFF (NYSE: IFF) today announced that it has reached an agreement with Sachem Head Capital Management LP (\u201cSachem Head\u201d), under which Sachem Head will have the option for Managing Partner Scott Ferguson to join IFF\u2019s Board of Directors between September 10, 2021 and December 31, 2021. Should Sachem Head choose to have Mr. Ferguson join the IFF Board, the Board would expand from 13 to 14 directors. \u201cWe have engaged in constructive conversations with Sachem Head around our plans to achieve the full potential of our combination with DuPont\u2019s N&B business for the benefit of all shareholders,\u201d said IFF Chairman and Chief Executive Officer, Andreas Fibig. \u201cThis agreement reflects our commitment … Continue reading "IFF Announces Agreement With Sachem Head"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/iff-announces-agreement-with-sachem-head\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-08T11:58:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210308005404r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-announces-agreement-with-sachem-head\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-announces-agreement-with-sachem-head\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"IFF Announces Agreement With Sachem Head\",\"datePublished\":\"2021-03-08T11:58:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-announces-agreement-with-sachem-head\\\/\"},\"wordCount\":562,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-announces-agreement-with-sachem-head\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210308005404r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-announces-agreement-with-sachem-head\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-announces-agreement-with-sachem-head\\\/\",\"name\":\"IFF Announces Agreement With Sachem Head - 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