Frank Clyburn, the CEO of International Flavors & Fragrances Inc. (IFF), one of the world’s leading creators and manufacturers of ingredients for various industries, received a significant compensation package of $19.27 million in 2022.
Clyburn, who assumed his role as CEO of IFF on Feb. 14, 2022, received a compensation package that included a base salary of $1.15 million.
In addition, he was awarded a performance-based short-term incentive of $13.27 million, contingent on the company’s financial performance during the fiscal year. Furthermore, Clyburn received a long-term incentive award of $6.75 million.
Clyburn’s appointment as CEO followed his distinguished career as the executive vice president and president of human health at Merck. Since joining IFF in early 2022, Clyburn has been pivotal in driving the company’s growth and strategic actions.
This includes the successful sale of the Savory Solutions Group and the divestiture of the Microbial Control business unit on July 1, 2022, marking a positive impact on the company’s portfolio optimization strategy and financial health.
Under Clyburn’s leadership, IFF experienced a remarkable seven-percent growth in sales, increasing from $11.67 billion in 2021 to $12.44 billion in 2022. The company’s profit also surged by 11 percent, rising from $3.74 billion in 2021 to $4.15 billion in 2022, demonstrating Clyburn’s adeptness in navigating complex business environments.
The IFF Board intends to periodically review Frank Clyburn’s compensation package, potentially considering increments based on his continued performance and leadership within the organization.
The compensation package highlights Clyburn’s impressive stewardship of IFF and the tangible results achieved under his guidance. As the company’s financials continue to flourish, the future looks promising under the leadership of one of the industry’s leading executives.
