INTERNATIONAL FLAVORS & FRAGRANCES Business Summary

International Flavors & Fragrances Inc. (IFF) operates a B2B business model, generating revenue through the development and manufacture of value-added ingredients for the food, beverage, personal care, and household products industries. As of February 2026, the company has streamlined its operations into three core segments: Taste (flavor compounds and savory solutions), Scent (fine fragrances, consumer fragrances, and fragrance ingredients), and Health & Biosciences (enzymes, cultures, and probiotics). This follows a significant portfolio transformation, including the 2025 divestiture of its Pharma Solutions business to Roquette and the February 2026 launch of a formal sale process for its Food Ingredients unit. IFF maintains a top-tier market position alongside primary competitors Givaudan, dsm-firmenich, and Symrise, differentiating itself through one of the industry's largest R&D pipelines and a vast library of proprietary sensory molecules. The leadership team is headed by CEO J. Erik Fyrwald, who assumed the role in early 2024 bringing extensive specialty chemicals and agribusiness experience from his previous tenures at Syngenta and DuPont. He is supported by Executive Vice President and CFO Michael DeVeau, a 15-year company veteran who took over financial operations in January 2025, and Leticia Gonçalves, who joined in early 2025 to lead the high-margin Health & Biosciences division. The company’s strategic direction is overseen by an independent board chaired by Kevin O’Byrne. Notable institutional investors include Dodge & Cox, Vanguard, and BlackRock, while the board also includes Vincent Intrieri, an appointee of Icahn Capital LP, reflecting the continued influence of activist investor Carl Icahn in the company’s ongoing operational turnaround and portfolio optimization efforts.