International Flavors & Fragrances Inc. (IFF) has undergone a period of notable market activity. The firm made headlines with several strategic moves but has faced regulatory challenges. It sold off its pharma solutions business for $2.85B and was later penalized with a €15.9M fine by the European Union for obstructing an investigation into a suspected fragrance cartel. IFF's shareholders have not seen profitability over the past three years, although certain institutional investors, such as Norden Group LLC and Sumitomo Mitsui Trust Holdings Inc, expanded their holdings in IFF. Despite revenue resilience, the firm faces ongoing challenges and heightened risk to shareholder returns. Analysts at Morgan Stanley increased IFF's price target to $103.00, but urged caution to investors ahead of its dividend announcement. IFF notably announced multiple executive transitions, including the appointment of J. Erik Fyrwald as CEO and the planned retirement of Glenn Richter, their Chief Financial and Business Transformation Officer, at the end of 2024. Amidst these changes, the firm has maintained a focus on innovation and expansion, specifically within the poultry solutions industry in the EU and plant-based meat alternatives.
International Flavors Fragrances IFF News Analytics from Fri, 21 Jul 2023 07:00:00 GMT to Sun, 07 Jul 2024 11:17:18 GMT - Rating -2 - Innovation 6 - Information 7 - Rumor -4
