IFF Appoints Kathy Fortmann Divisional CEO, Taste

Matthias Haeni to Retire from IFF After 30-Year Career; Kathy Fortmann to Become President, Taste, Food & Beverage of Combined Company Upon Completion of Merger with DuPont N&B

NEW YORK – Regulatory News: (STL.News) IFF (NYSE: IFF) (Euronext Paris: IFF) (TASE: IFF), a leading innovator of taste, scent, and nutrition, today announced that Kathy Fortmann has been appointed IFF Divisional CEO, Taste, effective October 1, 2020.  Ms. Fortmann will replace Matthias Haeni, IFF’s current Divisional CEO, Taste, who has informed IFF of his intention to retire from the Company at the culmination of his 30-year career in the industry.  Upon completion of the previously announced merger of IFF with DuPont’s Nutrition & Biosciences (N&B) business, Ms. Fortmann will assume the role of President, Taste, Food & Beverage.  She will replace Mr. Haeni and Amy Byrick, N&B Food & Beverage Platform Leader, who had been previously announced to lead the Taste, Food & Beverage division upon transaction close.  IFF and DuPont continue to target completion of the merger for the first quarter of 2021, subject to approval by IFF shareholders and other customary closing conditions, including regulatory approvals.

In her new role, Ms. Fortmann will join the company’s Executive Committee and oversee the strategy and commercial and creative execution for the division.  She will continue to play an instrumental role in executing the integration of IFF’s Taste offering with N&B’s Food & Beverage platform, in close collaboration with Ms. Byrick, to form the combined company’s Taste, Food & Beverage division.  Ms. Fortmann joined IFF in April 2020 as Head of Taste Strategy and Cross-fertilization, where she has applied more than 30 years of experience and expertise gained through various leadership roles.  She most recently served as President of FrieslandCampina Ingredients, a multi-billion-dollar food ingredients business, and previously held the role of President of Business Services and a member of the Executive Committee at Cargill as well as various positions with DuPont.

“In her short time with IFF, Kathy has already brought tremendous expertise and insight to our team leading IFF’s integration of Taste with N&B’s Food & Beverage platform.  With her proven track record of delivering growth and innovation at global food and beverage ingredients organizations, I am confident Kathy is uniquely qualified to lead this division,” said IFF Chairman and CEO, Andreas Fibig.  “I am proud to have worked so closely with Matthias, as his leadership for the past seven years as Divisional CEO has been instrumental in the success of our Taste business.  His long and successful career has been truly impressive, and during his tenure with IFF he has advanced our position as a leader within the Taste industry and delivered strong financial performance. I wish Matthias the very best for his next chapter.”

Mr. Haeni has agreed to work closely with Ms. Fortmann until the completion of the transaction with N&B to ensure a smooth transition.  Ms. Byrick remains fully engaged in running the Food & Beverage business at N&B, as well as assisting Ms. Fortmann with integration planning for the future Taste, Food & Beverage division.  Following the transaction close, Ms. Byrick has chosen to pursue her career outside of the combined company.

“Since joining IFF in 2007, I have been proud to be part of a Taste team that has achieved sustained excellence for our customers while contributing strong growth for the business,” said Mr. Haeni.  “IFF is well-positioned to build on this momentum and continue to deliver growth and innovation within Taste and across the broader organization.  Kathy is a terrific leader and, as we’ve gotten to know each other, I continue to be impressed by her deep insight, experience, expertise and strategic mindset.  Our business is in excellent hands, and I am excited about the incredible potential of the IFF and N&B combination.”