CNBC Squawk on the Street: Andreas Fibig, CEO
Our CEO Andreas Fibig joins "Squawk on the Street" to discuss the company's first-quarter earnings results as well as the coronavirus pandemic's impact on the company. (Recorded on May 12, 2020)
Former Chairman & Chief Executive Officer, Flavors Fragrances
Search every verified Andreas Fibig interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Andreas Fibig, former Chairman and CEO of International Flavors & Fragrances (IFF), discussed the company's performance and strategic direction in several media appearances during 2020. In May 2020, Fibig appeared on CNBC's "Squawk on the Street" to discuss IFF's first-quarter earnings, noting that demand was thriving in flavors and ingredients for packaged foods, hand sanitizers, and detergents during the pandemic, while fragrances and cosmetics sales declined. He stated that all 110 of IFF's manufacturing facilities remained open, with safety measures including split shifts, face masks, and temperature checks. Fibig also mentioned that IFF had produced over 70 metric tons of hand sanitizer, branded "Hope 2020," distributed free to frontline healthcare workers and police departments. Fibig also discussed IFF's merger with DuPont's Nutrition & Biosciences (N&B) unit, announced in July 2020, describing it as a combination that would create a global leader in ingredients with a broad portfolio and double the R&D of competitors. He highlighted the company's ability to provide integrated solutions, such as combining flavors, texturizers, and plant-based proteins for products like plant-based burgers. Fibig had previously overseen IFF's acquisition of Frutarom in 2018, which he described as a complementary combination focused on growth. He stated that IFF's mid- to long-term growth guidance was 5 to 7 percent, expressing confidence in achieving that target.
“We see that the market is super volatility at the moment right now and we see spikes in some categories it goes up by two hundred three hundred percent and others are going down. We said it's just too volatile right now and we don't know how the recovery will happen when all the different countries are opening up again...”
“We are now in the position to really do integrative solutions where we can bring a lot of these ingredients together. Let me give you an example. We see right now a lot of plant-based burgers, plant-based meat even was a meat crisis in the U.S. There's a lot of demand now. As a company we are not just flavoring that we...”
“2019 was a transformational year in IFF history. It can be categorized as a year of great progress despite some challenges. Over the course of the year there were many positive accomplishments including the development of our new strategy, strong progress against our integration synergy targets, unlocking incremental a...”
“With N&B we take the next leap forward in delivering integrated solutions that allow us to partner with our customers to solve their most pressing problems. It is a truly powerful combination. IFF's leadership in natural solutions and N&B's leadership in clean label including cultures and non-soy proteins will be a vit...”
“What is fantastic is that right now we have the largest and broadest customer base in our industry and we have more than 30 thousand customers no one else has it and we are starting to take their natural solutions like natural colors or like their antioxidants to sell them into our customer base and taking our technolo...”
“We believe we can do it five to seven, that's our mid to long term long term guidance, and we are very bullish that this can be done.”
“I'm very excited because we are combining Frutarom and IFF, two companies with a great tradition, and which will make us a leader in taste, scent, and nutrition.”
“First of all, I believe everybody has to understand that this bringing together of these two great teams and organization, it's all about growth. It's not just it makes us a global leader, but we want to expand on this going forward.”
“The value proposition is that basically if you look at repurchasing of things you eat then the taste plays an important role the same is actually for the smell so if people want to see and see something which is really great then they want to have it again and that's where we are coming in and if you look at our cost o...”
“What is important is that we talk about the safety of ingredients and that's where we do a lot of things and research to make sure every single ingredient which goes into one of our products is absolutely safe to use and it might be a natural ingredients or it might be a synthetic ingredients so that's important becaus...”
“The value proposition is that basically if you look at repurchasing of things you eat then the taste plays an important role. The same is actually for the smell. So if people want to see something which is really great then they want to have it again and that's where we are coming in. And if you look at our cost of goo...”
“We play certainly in both areas but I have to say if you look at chemicals you have chemicals everywhere. We have chemicals in our body so I think you can't get rid of chemicals and it would be a very short story. So what is important is that we talk about the safety of ingredients and that's where we do a lot of thing...”
Our CEO Andreas Fibig joins "Squawk on the Street" to discuss the company's first-quarter earnings results as well as the coronavirus pandemic's impact on the company. (Recorded on May 12, 2020)
Andreas Fibig, CEO of International Flavors & Fragrances, joins "Squawk on the Street" to discuss the company's first-quarter earnings results as well as the coronavirus pandemic's impact on the company. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2JdMwO7 » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the…
The merger of International Flavors & Fragrances and DuPont’s nutrition and biosciences unit will create a company with double the research and development of any of its rivals, DuPont’s chairman said. “This creates the global leader across all the ingredients spaces. It’s the broadest portfolio by far, and we’ll have double the R&D of any other company in the industry,” DuPont Executive Chairman Ed Breen said Monday on CNBC’s “Squawk on the Street.” IFF announced the deal Sunday. Breen said two other companies were also bidding for the DuPont division. The deal is expected to take 12 to 13…
The market may seem sour, but could a company like International Flavors & Fragrances sweeten your portfolio's performance? Jim Cramer sits down with the CEO to hear the latest. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC » Watch more Mad Money here: http://bit.ly/WatchMadMoney » Read more about IFF here: https://cnb.cx/2RCCIAp "Mad Money" takes viewers inside the mind of one of Wall Street's most respected and successful money managers. Jim Cramer is your personal guide through the confusing jungle of Wall Street investing, navigating through both opportunities and pitfalls with one goal…
You may not know International Flavors & Fragrances' products, but chances are you've sniffed, sipped and savored them for years. Jim Cramer spoke to the CEO about the company’s latest innovations. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC » Watch more Mad Money here: http://bit.ly/WatchMadMoney » Read more about IFF here: http://cnb.cx/2yYU3hi "Mad Money" takes viewers inside the mind of one of Wall Street's most respected and successful money managers. Jim Cramer is your personal guide through the confusing jungle of Wall Street investing, navigating through both opportunities and pit…
Andreas Fibig, International Flavors & Fragrances CEO, discusses our quarterly earnings and how consumer tastes are changing, Wed, 9 Aug. 2017, on CNBC's Squawk Box. Visit us at http://www.iff.com
Jim Cramer got a tour of IFF’s secret lab in Manhattan to determine the real smell of success. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC » Watch more Mad Money here: http://bit.ly/WatchMadMoney » Read more about IFF here: http://cnb.cx/2af0Dju "Mad Money" takes viewers inside the mind of one of Wall Street's most respected and successful money managers. Jim Cramer is your personal guide through the confusing jungle of Wall Street investing, navigating through both opportunities and pitfalls with one goal in mind -- to try to help you make money. About CNBC: From 'Wall Street' to 'Main…
The company just reported what Jim Cramer considers one of the best quarters of the year. While some may have not heard of it, they’ve surely sniffed its work » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC » Watch more Mad Money here: http://bit.ly/WatchMadMoney » Read more about IFF here: http://cnb.cx/1VSpY7h "Mad Money" takes viewers inside the mind of one of Wall Street's most respected and successful money managers. Jim Cramer is your personal guide through the confusing jungle of Wall Street investing, navigating through both opportunities and pitfalls with one goal in mind -- to try t…
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