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Leading global business executives
New York, New York (February 27, 2002)—Leading global business executives, board directors, and securities analysts have recognized the recent performance of International Flavors and Fragrances Inc. (NYSE: IFF) by ranking it among the world's best soaps and cosmetics companies in this year's list of Fortune Magazine's Most Admired American Companies. IFF, the world's leading creator and manufacturer of flavors and fragrances, shared this honor with consumer products powerhouses including Procter & Gamble, Colgate-Palmolive, and Estée Lauder.
“Since I joined IFF less than two years ago, our company has been undergoing a process of reinvention,” Richard A. Goldstein, IFF's Chairman and Chief Executive Officer, says. “Our presence on the ‘Most Admired' list tells me that we are changing and we are reaffirming our industry preeminence. Perhaps even more importantly, it tells me that people are beginning to notice…and they like what they see.
“What's especially encouraging,” Goldstein continues, “is that the eight key attributes used to determine Fortune's rankings—innovation, financial soundness, employee talent, use of corporate assets, long-term investment value, social responsibility, quality of management, and quality of products and services—are the ones that will ensure we continue to succeed and to deliver shareholder value over the long-term. I couldn't be more pleased with the honor or our progress.”
IFF is the world's leading creator and manufacturer of flavors and fragrances used in a wide variety of consumer products—from fine fragrances and toiletries, to soaps, detergents and other household products, to beverages and food products. IFF is dedicated to The Pursuit of Excellence in every area of its business, using knowledge, creativity, innovation and technology to continually provide customers with the highest quality products and service and superior consumer understanding.
IFF has sales, manufacturing and creative facilities in 42 countries worldwide and annual sales exceeding $1.8 billion. For more information, please visit our Web site at www.iff.com.
Gail S. Belmuth, IFF