NEW YORK — IFF, a global supplier of better-for-you food ingredients and flavors, has announced Michael DeVeau as executive VP and CFO, effective Jan. 1. DeVeau presently serves as IFF’s senior VP of corporate finance and investor relations. He succeeds Glenn Richter, current CFO and business transformation officer, who previously announced his planned retirement for the end of 2024.
“We could not be more pleased than naming Mike as our CFO,” said Erik Fyrwald, CEO of IFF. “Mike is a trusted, experienced executive at IFF and has been a pivotal leader across our company’s global finance functions over the last 15 years. We conducted a thorough evaluation process, and I am proud that we identified the right leader with decades of industry experience and longstanding relationships with the investment community and our global colleagues from within IFF. Mike will be a strong partner as we continue to strengthen IFF’s financial foundation and execute our long-term strategy to drive shareholder value creation. I would also like to thank Glenn for his many contributions to IFF and wish him all the best in his well-earned retirement.”
Since joining the company in 2009, DeVeau has held a variety of senior finance leadership roles across the global organization, including as divisional CFO, Scent, where he spearheaded financial planning, forecasting, acquisitions, analysis and performance management for the company’s largest division; and chief strategy officer, where he guided a refreshed corporate strategy focused on long-term profitable growth and portfolio development and transformation.
“Mike will be a strong partner as we continue to strengthen IFF’s financial foundation and execute our long-term strategy to drive shareholder value creation.” — Erik Fyrwald | CEO | IFF
In his current role, DeVeau oversees IFF’s corporate and divisional financial planning and analysis team, with additional responsibilities for investor relations and corporate strategy.
“I am honored to assume the CFO role and begin the next chapter of my IFF career,” DeVeau said. “Glenn has been a terrific partner who has significantly improved our balance sheet and positioned IFF for financial success, and I am grateful for his support over the past several years. I look forward to working with him during this transition period and alongside Erik, our board and the rest of our talented global team to build on our strong business momentum.”
DeVeau will remain a part of IFF’s executive leadership team. For more information on his contributions and the company’s capabilities, visit the IFF website.
