AI English summary of an SEC filing — figures as filed
International Flavors & Fragrances IFFThe company said Michael DeVeau was appointed Executive Vice President, Chief Financial Officer, effective January 1, 2025. Current Chief Financial Officer Glenn Richter will retire effective December 31, 2024.
Key points
AI summaryThe company said Michael DeVeau was appointed Executive Vice President, Chief Financial Officer, effective January 1, 2025. Current Chief Financial Officer Glenn Richter will retire effective December 31, 2024.
The company said DeVeau, age 44, has held senior finance roles at the company since joining in 2009, including Divisional CFO, Scent, and Chief Strategy Officer, and most recently SVP, Corporate Finance and Investor Relations.
The company said the Human Capital & Compensation Committee approved a base salary of $700,000 for DeVeau, an annual bonus target of 90% of base salary, a long-term incentive plan grant with a target grant date fair value of $2,200,000, and a total target value of $3,530,000.
The company said DeVeau previously held investor relations, finance and corporate development positions at PepsiCo and began his career at Citigroup Investment Research. It also disclosed that there is no arrangement or understanding for his appointment and no family relationships with directors or executive officers.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Michael DeVeau named CFO effective January 1, 2025
The company said Michael DeVeau was appointed Executive Vice President, Chief Financial Officer, effective January 1, 2025. Current Chief Financial Officer Glenn Richter will retire effective December 31, 2024.
Source · Based on the filing body and exhibits
DeVeau's finance and strategy career since joining in 2009
The company said DeVeau, age 44, has held senior finance roles at the company since joining in 2009, including Divisional CFO, Scent, and Chief Strategy Officer, and most recently SVP, Corporate Finance and Investor Relations.
Source · Based on the filing body and exhibits
DeVeau pay terms: base salary $700,000, total target value $3,530,000
The company said the Human Capital & Compensation Committee approved a base salary of $700,000 for DeVeau, an annual bonus target of 90% of base salary, a long-term incentive plan grant with a target grant date fair value of $2,200,000, and a total target value of $3,530,000.
Source · Based on the filing body and exhibits
DeVeau's prior career and appointment disclosures
The company said DeVeau previously held investor relations, finance and corporate development positions at PepsiCo and began his career at Citigroup Investment Research. It also disclosed that there is no arrangement or understanding for his appointment and no family relationships with directors or executive officers.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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