07.10.2020 – 07:00
Firmenich Shareholders Endorse New 2025 Strategy and Re-Elect Directors
Firmenich International S.A., the world's largest privately-owned Perfume and Taste company, held its Annual General Meeting on the 6th October 2020 as planned without in-person participation.
Firmenich's Chairman Patrick Firmenich said: "I am proud of our performance in the past fiscal year which shows how resilient our business is. I want to thank our shareholders for their continued trust and for their endorsement of our 2025 strategy. We embark on this strategic roadmap with confidence, fully committed to further strengthen our leadership in innovation and to seize the growth opportunities at this transformational time for our industry."
June 30, 2020 marked the end of the company's previous strategic cycle. Accordingly, Management presented the achievements of the cycle and the company's next strategic roadmap to 2025, which reinforces our focus on investing for the long-term to help our clients win, through innovation, creativity and a commitment to a sustainable future.
All proposals of the Board of Directors to the Annual General Meeting were approved. The annual review and the financial accounts were approved, as was the dividend proposed by the Board.
The shareholders re-elected Ms Karen Jones, a seasoned director with 30 years of experience in leading restaurant and pub businesses across the U.K and Mr Ajai Puri, who has exceptional experience in food and nutrition technology and business, each for a further three-year term of office. They also elected the members of the Governance and Compensation Committee for a one-year term until the next annual general shareholders meeting.
For the year to come, the Board and its different committees will be composed as follows:
Board of Directors
Patrick Firmenich, Chairman Barbara Kux, Vice Chairman (independent) Pierre Bouchut (independent) Antoine Firmenich Michel Firmenich Karen Jones Easton (independent) André Pometta Ajai Puri (independent) Richard Ridinger (independent)
Governance and Compensation Committee
Karen Jones Easton, Chair Antoine Firmenich Michel Firmenich Richard Ridinger
Patrick Firmenich, Chair Barbara Kux Michel Firmenich Ajai Puri
Finance, Audit and Risk Committee
Pierre Bouchut, Chair Barbara Kux Antoine Firmenich André Pometta
Furthermore, KPMG was appointed as auditors for the next fiscal year of the group. Finally the shareholders approved a change in the articles of association with respect to the company's "say-on-pay".
Firmenich was founded in 1895 in Geneva, Switzerland, and for 125 years has been a private family-owned company. Firmenich is a leading business-to-business company operating primarily in the flavors and fragrances market, and is involved in the research, creation, manufacture and sale of perfumes, flavors and ingredients. Firmenich aims to offer its customers superior creativity in formulation, a broad and high-quality palette of ingredients and proprietary technologies including in biotechnology, encapsulation, olfactory science and taste modulation, among other areas of innovation. Firmenich had an annual turnover of 3.9billion Swiss Francs at end June 2020. More information about Firmenich is available atwww.firmenich.com