The two companies were vastly different. Dragoco was privately held and built small, localized businesses around the world with little cross-border interaction. Haarmann & Reimer, was owned by Bayer, known for pharmaceuticals and agricultural chemicals, for 50 years and had a large corporate structure. The merging of the two companies has been complementary, however, insisted Mr. Schaffner.
“Dragoco was strong in the Far East; H&R was strong in Japan and the Middle East,” he said. But the U.S. was untapped by both companies.
A team was carefully chosen to complete the merger. “We had one goal and one goal only: picking the best people irrespective of their own origins,” Mr. Schaffner noted.
Among recent developments, Jim Forman was named chief executive officer. The current global management board is broken down into several divisions, including fragrance and flavors. The fragrance division is further broken down into four regions: North America, South America and Mexico, Europe, Africa and The Middle East and Asia-Pacific.