IFF Announces Continuation of Cooperation Agreement with Icahn Capital

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Price: $83.48 -2.08%

Overall Analyst Rating:
SELL (= Flat)

Dividend Yield: 1.9%
EPS Growth %: -22.9%

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NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced the continuation of the cooperation agreement with Icahn Capital LP and its affiliates. Icahn Capital and IFF have agreed to renominate one Icahn director and one mutually agreed director to the IFF board for the 2024 proxy season.

“The Icahn Group’s relationship with IFF has brought relevant market experience to and enhanced the financial expertise of the IFF Board. We are pleased to continue to benefit from their expertise as we execute our growth and transformation plan to drive increased shareholder value,” said Roger Ferguson, chairman of IFF’s Board of Directors.

“I believe the IFF Board and management team are poised to capture further value for shareholders as they continue on their strategic transformation to optimize the portfolio,” said Carl Icahn, CEO of Icahn Capital.

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.