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IFF Reaches Deal With Sachem Head Capital Management - Quick Facts

IFF (IFF) announced Monday that it has reached an agreement with Sachem Head Capital Management LP, under which Sachem Head will have the option for Managing Partner Scott Ferguson to join IFF's Board of Directors between September 10, 2021 and December 31, 2021.

Should Sachem Head choose to have Ferguson join the IFF Board, the Board would expand from 13 to 14 directors. Pursuant to the agreement, Sachem Head has agreed to certain standstill and voting provisions.

Ferguson is the Founder and Managing Partner of Sachem Head Capital Management. Prior to starting Sachem Head, he spent nine years at Pershing Square Capital Management, which he joined pre-launch as the firm's first investment professional. He was also a business analyst at McKinsey & Co. from 1996 to 1999.

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