02.03.23
IFF has appointed Gary Hu to the company’s Board of Directors, effective Feb. 1.
“As a member of IFF’s Board, I am excited to help the Company realize its strategic goals and execute on its initiatives for 2023 and beyond,” said Hu. IFF is on the precipice of its next phase of growth, and I am excited to join the board at this pivotal time.”
Hu, a portfolio manager at Icahn Capital, will be appointed to the board’s audit and transaction committees. In connection with this appointment, IFF has entered into a cooperation agreement with Icahn Capital LP and its affiliates.
“On behalf of the IFF Board of Directors, I would like to welcome Gary to the board,” said Dale Morrison, chairman of IFF’s Board of Directors. “We expect that Gary’s board experience – coupled with his financial and investment expertise – will prove a solid addition to our Board. We look forward to working alongside him as we continue to execute on our growth and transformation plan to drive increased shareholder value.”
Additionally, Barry Bruno – who was appointed to the IFF Board in connection with a previous cooperation agreement with Icahn Capital announced on Feb. 8, 2022 – will continue to serve as an independent Director. Icahn Capital has agreed to customary standstill, voting and other provisions. The full agreement between IFF and Icahn Capital will be filed on a Form 8-K with the SEC.