FIRMENICH ANNOUNCES NEW CHAIRMAN AND BOARD MEMBERS
Geneva, Switzerland, October 12th, 2016 – Firmenich announces the election of Patrick Firmenich as Chairman of the Firmenich Board of Directors, after serving as Vice Chairman since 2014 and leading the company as CEO for 12 years between 2002 and 2014. He succeeds Yves Boisdron who is retiring from the Board after a decade in which he significantly contributed to the success of the Company. Building on his prestigious international career in specialty chemicals, Yves Boisdron became Chairman of Firmenich in July 2013, after joining the Board in 2006 and acting as Vice Chairman and Chairman of the Governance & Compensation Committee.
Yves Boisdron said: “Patrick Firmenich is an outstanding leader with in-depth knowledge of the industry and Firmenich’s businesses, as well as, a deep personal commitment to social responsibility. Building on his exceptional career at Firmenich, I have no doubt that the Company will greatly benefit from his broad industry insights and strong belief in driving business growth responsibly and sustainably”.
Patrick Firmenich said: “I am honoured to have been invited to become Firmenich's Chairman. Having served our Company in many different capacities since joining it in 1990, I look forward to continuing to contribute to its purpose, vision and strategy. Over the last couple of years, I have had the privilege of getting to know Gilbert Ghostine who has been leading Firmenich on a path of success since he became the Company’s CEO in 2014. He is an outstanding leader and I look forward to working with him.”
The Firmenich Board is confident that the appointment of Patrick Firmenich, with his enduring contributions to the Group’s legacy of world-class research and commitment to sustainability, will allow the Company to reach its ambitious targets. The Board would also like to pay special tribute to Yves Boisdron. His vision for best-in-class governance, operational efficiency, safety excellence, and building long-term profitable growth have been hallmarks of his Chairmanship.
The Firmenich Board also announced that Olivier Bazil will be retiring after eight years as Chairman of the Finance, Audit & Risk Committee. Patrick Firmenich said: “I would like to sincerely thank Olivier for his insightful guidance over the years, as he brought invaluable financial experience to our Group. In particular, he played an instrumental role in enabling us to strengthen our financial systems as well as navigate one of the world’s greatest financial crises.”
The Firmenich Board also announced the nomination of two new Non-Executive Directors to the Board. Richard Ridinger, CEO of Lonza, a global leader in Life Sciences is joining the Board with exceptional experience in science-driven organizations, having held global roles in groups such as Cognis and Henkel. Pierre Bouchut, Chief Operating Officer, Europe and Member of the Management Board of Ahold Delhaize, is coming to the Board with a remarkable international track record in the area of Finance from Carrefour Group, Casino, Schneider Electric and McKinsey.
Patrick Firmenich said: “Richard Ridinger and Pierre Bouchut join us at a critical point in our history and will help us drive for success in the coming years. I am delighted they have agreed to join the Board as Non-Executive Directors. In addition to their outstanding international business acumen, they are bringing unique perspectives in the areas of science and finance which will greatly contribute to our business success in the developed and developing world.”
Firmenich is the world’s largest privately-owned company in the fragrance and flavor business. Founded in Geneva, Switzerland, in 1895, it has created many of the world’s best-known perfumes and flavors that billions of consumers enjoy each day. Its passion for smell and taste is at the heart of its success. It is renowned for its world-class research and creativity, as well as its thought leadership in sustainability and exceptional understanding of consumer trends. Each year, it invests 10% of its turnover in R&D, reflecting its continuous desire to understand, share and sublimate the best that nature has to offer. Firmenich had an annual turnover of 3.2 billion Swiss Francs at end June 2016.