IFF Organizes Into Two Business Units

20/10/06 International Flavors & Fragrances Inc. has announced that the Company will be organized into two business units that reflect its flavor and fragrance businesses, effective January 1, 2007. Hernan Vaisman has been elected by IFF’s Board of Directors to the newly created position of Group President, Flavors, and Nicolas Mirzayantz has been elected to the newly created position of Group President, Fragrances.

By creating a business unit structure, IFF will sharpen its focus and accountability across the organization and accelerate its growth. Hernan Vaisman and Nicolas Mirzayantz will each be responsible for strategy, commercial and creative execution, people development and the profit and loss of their respective global business units. Each will report directly to Robert M. Amen, Chairman and Chief Executive Officer of IFF.

“This new leadership structure is designed to enhance IFF’s strong foundation in our principal businesses and unleash our potential,” said Amen. “Both Hernan and Nicolas have a deep understanding of the unique needs of IFF’s customer segments. Their international experience and leadership skills will promote a culture of achievement and accountability. This structure allows IFF to improve focus on our businesses to best serve our stakeholders – our customers, shareholders and employees.”

Hernan Vaisman, 48, has served as Vice President and Regional Manager, Latin America, since October 2004. He has worked in the flavor and fragrance industry for more than 20 years, including the last six years at IFF.

Nicolas Mirzayantz, 43, has most recently served as Senior Vice President, Fine Fragrances & Beauty Care and Regional Manager North America. He has worked at IFF for more than 18 years, having joined IFF France as a member of the sales team.

Each of the Flavor and Fragrance business units will maintain a regional structure for sales, marketing and creative development that recognizes the diversity of IFF’s customers and their consumers. The Company will also continue to leverage the operating and creative efficiencies achieved through a centralized support structure. Global marketing, supply chain management, research and development, human resources, finance, and legal will continue to report to the CEO.