Off the Standard Track But Good Choice

Yesterday I focused on L-3 Communications' CEO choice back in June 06'and today is another one I selected from last June, International Flavors & Fragrances (IFF - NYSE), one of the leading creators and manufacturers of artificial aromas and flavors. In January of 06', the long time CEO of IFF, Richard A. Goldstein, announced he planned to retire from the firm after its May 06' annual shareholders meeting. The company initiated a search for a new CEO and in the interim upon Goldstein's retirement in May, IFF put in place an interim CEO, Arthur M. Martinez the lead director from the board and a former Chairman and CEO of Sears, Roebuck & Co. In less than two months from Goldstein's actual retirement, IFF announced the appointment of a somewhat surprising choice, Robert M. Amen as Chairman and CEO.

Amen, who was previously the President of International Paper and worked for the company for over twenty six years was an extremely well rounded executive with global-branding expertise and keen operational skills. He was not, however, an executive from either the food or cosmetics related industries which was where many people thought IFF's next CEO would be from. Nevertheless, I saw his appointment as good fit for the firm.

With nearly ten months under his belt, IFF results have been quite positive.