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IFF CEO Richard A. Goldstein has retired today as part of the previously announced management succession plan. The company’s board of directors has retained the executive search firm of Spencer Stuart to assist in identifying Goldstein’s successor. Pending the appointment of a successor, IFF’s board of directors have elected Arthur C. Martinez, the company’s lead director, as interim chairman and CEO. Martinez was formerly chairman and CEO of Sears, Roebuck & Co. and serves on the boards of directors of PepsiCo, Inc., Liz Claiborne, Inc. and IAC/InterActive Corp.