IFF realign fragrance business unit profitability

IFF to realign fragrance business unit for profitability

1:31 AM, 19th January 2012
IFF to realign fragrance business unit for profitability
Douglas D Tough, Chairman and Chief Executive Officer, IFF.

NEW YORK, US: International Flavors & Fragrances Inc (IFF) announced a strategic initiative designed to strengthen the company’s global go to market capabilities and improve profitability. The initiative includes a realignment of responsibilities in the fragrance business unit and a reduction in workforce in fragrances as well as various parts of the organization. The company will also continue to reallocate a portion of its functional fragrance resources from the developed markets to the emerging markets, increasing emphasis on its Singapore and Mexico creative centre.

“This announcement highlights our commitment to the plan that was developed in our strategic review. These changes are expected to provide improved business fundamentals that, when combined with our strategy to leverage our geographic reach, strengthen our innovation platform and maximize our portfolio, should create long-term value for our shareholders,” said Douglas D Tough, Chairman and Chief Executive Officer, IFF.

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