New York, New York
2020 Sales: $5.1 billiona
International Flavors & Fragrances (IFF) has dug into the opportunities that were presented over the last year, including partnerships, debuting a taste creative center in Dubai, and a merger with DuPont’s nutrition and biosciences division (N&B).
On the partnership front, IFF has linked with the Estée Lauder Companies (ELC), Aveda, Biovanilla, BSR and Wholechain to launch a pilot program to leverage blockchain technology in its Madagascan vanilla supply chain.
This last year has also been laced with accolades for the evolving company, one of which is being awarded the 2020 EcoVadis platinum sustainability rating. With an overall score of 73% for 2020, and noted strengths in environment and sustainable procurement, the award puts IFF among the top 1% of companies assessed.
IFF was also the first company to achieve the Global EDGE Move Certification. Earning the certification entails a rigorous third-party review of gender representation, pay equity, the effectiveness of policies and practices, and the inclusiveness of an organization’s culture. CEO Andreas Fibig will speak more to the company’s diversity and equality initiatives in the following interview.
Across the company’s platforms and various initiatives, IFF continues to grow and develop, even under times of high stress. The company checks in to share what’s new, in the works and on the horizon for the flavor and fragrance industry.
aPer IFF's 2020 annual report.
What was your company’s biggest business accomplishments in the last year?
Without a doubt, IFF’s biggest accomplishment was the planning and execution of the merger with DuPont’s nutrition and biosciences division. A big lift in the best of circumstances, I am incredibly proud of what we have accomplished, particularly considering that the hard work was successfully achieved with the pandemic as background.
Our customers have reacted positively to the new IFF and are excited about how our expanded portfolio and capabilities can help them better serve their consumers.
Our results are indicative of strong execution by our global team and our best-in-class portfolio of industry-leading solutions. We are also encouraged by the progress we’ve made towards our integration efforts and the positive feedback from our customers, investors and employees. Our people are keeping a strong focus on execution, while delivering on integration objectives.
We see exceptional value to our customers with our expanded capabilities, the broadest product offering in the industry (including single ingredients, multiple ingredients, integrated solutions and market-first products) and an unrivalled innovation platform.
We are also proud of our new purpose, “Applying science and creativity for a better world,” because it encapsulates IFF’s DNA at its deepest and most profound level. We are using the engines of science and artistry to develop processes, technologies and products that will do more good for people and planet. This is who we are at our core.
Though we still have much to do, I am pleased with the progress we are making in our DE&I program in terms of gender parity, racial equity, LGBTIQ+ equality and disability inclusion. Our colleague communities are really taking hold and making a difference. Together, we are bringing our DE&I vision to life, “Your uniqueness unleashes our potential.” Our recently published sustainability report outlines our progress, and I hope our commitment to this important program is clear.
I am proud of our people around the world, who, in the midst of the pandemic, manufactured 77 tons of hand sanitizer for distribution to front-line workers across the globe. I am also deeply grateful to our own essential workforce, who did their utmost for IFF and our customers, coming in during a very difficult time. Our care and concern for our people never wavered, and we are humbled by their passion for and dedication to IFF.
I am grateful to our employees and customers for their commitment and partnership over an unprecedented year.
For the full article, please check out the Perfumer & Flavorist+ July 2021 issue.