FIRMENICH APPOINTS GILBERT GHOSTINE AS ITS NEW CHIEF EXECUTIVE OFFICER
Geneva, Switzerland, August 19, 2014 – After more than 12 years at the head of the company, Patrick Firmenich, CEO, announced his desire to hand over his current position while taking on increased responsibilities at the Board level. Upon accepting his request, the Board of Firmenich has appointed Gilbert Ghostine as Chief Executive Officer to succeed Patrick Firmenich, effective October 1st 2014. Gilbert Ghostine was, most recently, President, Asia Pacific at Diageo, the world’s leading premium drinks company.
Patrick Firmenich has been named Vice Chairman of Firmenich, effective October 2014. To ensure an orderly transition, Patrick Firmenich will assist Gilbert Ghostine through to the end of January 2015, while taking on his new role as Vice Chairman of the Board.
Yves Boisdron, Chairman of the Board of Firmenich said: "We are very pleased to welcome Gilbert. He is a great talent with significant international and high growth market experience, having held senior leadership roles with Diageo in the United States, Europe, Africa, Middle-East and most recently Asia Pacific. He brings to the company an extensive track record in leading business growth across complex markets and a deep understanding of how to combine creativity and innovation to create engaging consumer experiences. He has all the qualities necessary to build on Patrick’s achievements. We are delighted that he has agreed to join our Company and to lead Firmenich into the next stage of its development."
"At the same time, we are honored that Patrick Firmenich will continue to serve the company as Vice Chairman of the Board. Since joining the Group in 1990, Patrick has had a stellar career at Firmenich. With his unyielding entrepreneurial spirit, he pushed the Company to be bold in its creativity and innovation. Liked and admired in equal measure, Patrick leaves an outstanding record on which to build".
Patrick Firmenich said: "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. 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".
Gilbert 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 4 continents, I feel privileged to be putting my experience to work today to best serve Firmenich and all its stakeholders."
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 we enjoy each day. Its passion for smell and taste is at the heart of its success. It is renowned for its creativity and innovation, as well as its exceptional understanding of consumer trends. Each year, it invests around 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 2.9 billion Swiss Francs at end June 2013. More information about Firmenich is available at www.firmenich.com For more information, please contact: Corporate Communication, Nollaig Forrest: Nollaig.firstname.lastname@example.org