IFF appoints Erik Fyrwald as CEO to steer next phase of growth
NEW YORK — IFF, a global powerhouse in food, beverage, health, biosciences, and scent, has announced the appointment of J. Erik Fyrwald as the successor to Frank Clyburn in the role of Chief Executive Officer.
Fyrwald, a seasoned chemical engineer, brings a wealth of experience from his tenure as CEO and executive director at Syngenta Group, where he served with distinction for seven years. His leadership journey includes roles as CEO at Univar, president at Ecolab, and key positions at Nalco and DuPont.
Roger W. Ferguson Jr., the board chair for IFF, expressed enthusiasm about Fyrwald’s addition to the leadership team, stating, “We are delighted to welcome Erik to IFF’s board and leadership team. 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.”
Ferguson conveyed the board’s confidence in Fyrwald to guide IFF through its next chapter, especially as the company intensifies its strategic plan aimed at fostering long-term, profitable growth.
Alongside the CEO announcement, IFF reasserted its commitment to its “Full Year 2023 Guidance and Strategic Plan.”
The company anticipates its full-year 2023 sales to align with the previously stated guidance range of $11.3 billion to $11.6 billion. Furthermore, it projects full-year 2023 adjusted operating EBITDA to fall within the mid to high end of the previously communicated range of $1.85 billion to $2 billion.
In a strategic move, IFF recently divested its Cosmetic Ingredients business unit for US$810 million, with the transaction expected to conclude in the first quarter of 2024.
Following Fyrwald’s appointment, IFF announced a groundbreaking partnership with the environmental non-governmental organization (NGO) Bellona. The collaboration focuses on the long-term Norwegian Marine Restoration (NoMaRe) project, striving to revive 5,000 square kilometers of seaweed forest in northern Norway by managing invasive sea urchin predation.
The regeneration of these seaweed forests holds the potential to increase biological carbon sequestration by an impressive 12 million tons, equivalent to Norway’s total oil and gas industry emissions in 2021.
This move underscores IFF’s commitment to sustainable practices and environmental stewardship in its operational footprint.
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