After more than 12 years at the helm of Firmenich SA, Patrick Firmenich, the company's CEO, plans to hand over his current position and take over increased responsibilities at the board level as vice chairman, effective October 2014.
Upon accepting his request, Firmenich's board has appointed Gilbert Ghostine as CEO to succeed Firmenich, effective Oct. 1, 2014.
Ghostine has most recently been Diageo PLC's president, Diageo India and Greater China, and Chief Corporate Development Officer, since July 2014. Prior to that, he held several other leadership roles at Diageo.
To help the transition, Firmenich will assist Ghostine through to the end of January 2015, while taking on his new role as vice chairman of the board.
“12 years ago when I set out to lead Firmenich, my vision was to keep our unique spirit of creativity and innovation alive, while operating according to the highest standards of governance and ethics," said Firmenich. "When I see the company’s performance today, I believe this stage of my work is largely complete. So now is the right time to hand over my current responsibilities."
Ghostine also said: “I am very excited to be leading a new chapter in the history of this great company. I look forward to working with Yves, Patrick and my new Firmenich colleagues around the world to best honor the group’s unique legacy while reinforcing its leadership in the fragrance and flavor industry. Building on my 20 years with Diageo, managing businesses across four continents, I feel privileged to be putting my experience to work today to best serve Firmenich and all its stakeholders."