IFF Mourns the Passing of Board Chair Dale F. Morrison

Rhea-AI Summary

International Flavors & Fragrances (IFF) announces the passing of Dale F. Morrison, Chair of the IFF Board, who died at the age of 74. Morrison had over a decade of experience on the IFF Board, serving as Chair since February 2022. His leadership was pivotal in IFF's global transformation, enhancing its role in the CPG value chain and setting new standards for innovation. Following his retirement due to health issues, Roger W. Ferguson, Jr. has been appointed as the new Board Chair. CEO Frank Clyburn expressed deep sorrow over Morrison's passing and acknowledged his contributions to IFF's strategic direction. Morrison's extensive leadership experience included roles at major companies such as McCain Foods and Campbell Soup Company, and he was recognized for his strategic vision and innovation.

Positive

• Morrison's leadership helped solidify IFF's position in the CPG value chain.
• Under Morrison, IFF set new standards for innovation and operational excellence.

Negative

• Morrison's passing may create uncertainty in leadership during a critical transformation phase.

NEW YORK--(BUSINESS WIRE)-- With heavy hearts and deep sadness, IFF (NYSE: IFF) shares the recent passing of Dale F. Morrison, Chair of the IFF Board.

Morrison served more than a decade as a member of the IFF Board, including as Chair since February 2022. Under his steadfast leadership, the company delivered on an ambitious global transformation, strengthening its position as an industry leader, setting new standards for innovation and R&D, and restoring a commitment to operational excellence. He worked closely with IFF’s leadership team and Board to oversee a period of growth as IFF solidified its essential role in the CPG value chain. Morrison was 74.

Morrison notified IFF earlier this year of his intent to retire from the Board at the 2023 Annual Shareholder Meeting, due to health reasons, and Roger W. Ferguson, Jr., current member of the IFF Board, succeeds Morrison as Board Chair, effective immediately.

“This is a profound loss of an exceptional man,” said Ferguson. “Dale and I have been partners and collaborators for nearly ten years, and I am so grateful for the many lessons he taught me along the way. One of Dale’s enduring ambitions for IFF to become a transformed, global leader, and I’m proud to credit him for so much that this organization has accomplished. Dale leaves behind an impressive legacy, and I will miss him greatly.”

“We are deeply saddened to learn of Dale’s passing,” said Frank Clyburn, CEO of IFF. “Dale served as a mentor to many of us here at IFF, and we all will be forever grateful for his years of leadership and immeasurable contributions. Over the last year, Dale played a pivotal role in helping develop IFF’s refreshed strategic plan, and together, we will honor his legacy by continuing to deliver on his vision. Our thoughts are with his family during this difficult time.”

Morrison was a respected leader in the business community, having held several leadership positions at major companies, including McCain Foods Limited, Campbell Soup Company, General Foods, PepsiCo and Fenway Partners. He also served as a founding partner of Twin Ridge Capital Management—a private equity firm—and founded TriPointe Capital Partners in 2011. Over the course of his career, he was widely recognized for his strategic acumen, passion for innovation and unmatched leadership.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230412005716/en/

Media Relations:

Paula Heinkel

332.877.5339

Media.request@iff.com



Investor Relations:

Michael Bender

212.708.7263

Investor.Relations@iff.com

Source: International Flavors & Fragrances Inc.

FAQ

What impact did Dale F. Morrison have on IFF?

Dale F. Morrison significantly influenced IFF's global transformation, innovation standards, and operational excellence during his tenure.

Who succeeds Dale F. Morrison as Chair of the IFF Board?

Roger W. Ferguson, Jr. has been appointed as the new Chair of the IFF Board following Morrison's passing.

What was Dale F. Morrison's role at IFF before his passing?

Dale F. Morrison served as the Chair of the IFF Board since February 2022, overseeing major strategic initiatives.

How did Morrison contribute to IFF's strategic direction?

Morrison played a pivotal role in developing IFF's refreshed strategic plan, fostering growth and innovation.

What was Dale F. Morrison's age at the time of his passing?

Dale F. Morrison was 74 years old when he passed away.