IFF Appoints Gary Hu to Board of Directors
02 Febrero 2023 - 5:55AM
Business Wire
IFF (NYSE: IFF) today announced the appointment of Gary Hu to
the Company’s Board of Directors, effective Feb. 1, 2023. Hu, a
portfolio manager at Icahn Capital, will be appointed to the
Board’s Audit and Transaction Committees. In connection with this
appointment, IFF has entered into a cooperation agreement with
Icahn Capital LP and its affiliates.
“On behalf of the IFF Board of Directors, I would like to
welcome Gary to the Board,” said Dale Morrison, chairman of IFF’s
Board of Directors. “We expect that Gary’s board experience –
coupled with his financial and investment expertise – will prove a
solid addition to our Board. We look forward to working alongside
him as we continue to execute on our growth and transformation plan
to drive increased shareholder value.”
“As a member of IFF’s Board, I am excited to help the Company
realize its strategic goals and execute on its initiatives for 2023
and beyond,” said Hu. IFF is on the precipice of its next phase of
growth, and I am excited to join the Board at this pivotal
time.”
“I am confident that Gary will be an excellent addition to the
IFF Board,” said Carl Icahn, CEO of Icahn Capital. “As IFF
continues to advance its strategic efforts, I believe that the
Board and management team are poised to capture further
opportunities for growth, deploying innovation across the portfolio
to create value for shareholders.”
Additionally, Barry Bruno – who was appointed to the IFF Board
in connection with a previous cooperation agreement with Icahn
Capital announced on Feb. 8, 2022 – will continue to serve as an
independent Director. Icahn Capital has agreed to customary
standstill, voting and other provisions. The full agreement between
IFF and Icahn Capital will be filed on a Form 8-K with the SEC.
About Gary Hu
Hu currently serves as a portfolio manager at Icahn Capital LP,
a subsidiary of Icahn Enterprises L.P., which is a diversified
holding company engaged in a variety of businesses. Prior to
joining Icahn Capital LP, he worked at Silver Point Capital LP, a
credit-focused investment firm from 2012 to 2020, and Stockbridge
Investors, the public securities affiliate of Berkshire Partners
LLC from 2010 to 2012. Hu has been serving as a board member of
Bausch & Lomb and Dana Incorporated since 2022, and previously
served on the boards of Occidental Petroleum Corporation and
Cloudera Incorporated. He graduated from the University of
Pennsylvania with a B.S. in Finance and Accounting and a B.A.S. in
Computer Science.
Welcome to IFF
At IFF (NYSE: IFF), an industry leader in food, beverage, scent,
health and biosciences, science and creativity meet to create
essential solutions for a better world – from global icons to
unexpected innovations and experiences. With the beauty of art and
the precision of science, we are an international collective of
thinkers who partners with customers to bring scents, tastes,
experiences, ingredients and solutions for products the world
craves. Together, we will do more good for people and planet. Learn
more at iff.com, Twitter , Facebook, Instagram, and LinkedIn.
© 2023 by International Flavors & Fragrances Inc. IFF is a
Registered Trademark. All Rights Reserved.
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Media Relations: Paula Heinkel 332.877.5339
Media.request@iff.com
Investor Relations: Michael Bender 212.708.7263
Investor.Relations@iff.com
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