GERMANY – Symrise AG, a renowned ingredients supplier, has announced key leadership changes as Walter Ribeiro is being appointed to the Executive Board effective September 15, 2024.
Ribeiro will be taking over the leadership of the Taste, Nutrition & Health (TN&H) division, previously overseen by CEO Dr. Jean-Yves Parisot.
This transition follows the resignation of Dr. Jörn Andreas, who is stepping down from the board at the end of September to pursue opportunities outside the company.
Dr. Parisot is temporarily managing the Scent & Care (S&C) segment, which Dr. Andreas had previously led, until a successor is named.
The search for Andreas’ replacement is currently underway.
Ribeiro, 53, hails from Brazil and has lived in Holzminden, Germany, for many years.
He has built his career at Symrise, serving in several senior positions both in Germany and internationally. His most recent role was leading the global Food & Beverage division within the TN&H segment.
The managerial update comes on the heels of Symrise reporting strong financial results for the first half of 2024.
The company is reporting an 11.5% increase in organic sales growth for the period.
Total sales, in the reporting currency, rose 6.3% compared to the same period in 2023, with revenues reaching €2.57 billion (US$2.8B).
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 11.5% year-on-year to €530 million (US$587M), with a margin of 20.7%, driven by lower raw material costs and disciplined cost management.
Both the Taste, Nutrition & Health and Scent & Care segments contributed to this growth.
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