I have worked with IFF for more than five years. I have seen the company change. From a company wich was a good employer to a company where the policy is: shut up, work hard our you will be fired. The management of the company doesn't know what is happening in the company. The managers only tell the director what he wants to hear. They never tell the truth. At the affiliate i have worked (outside US) the people in the localmanagement are the puppets of some managers at the floor, without knowing. They don't know what is happening in the affiliate they are responsible for.
The amounts of money spend on SAP are very high and it's not working as it should. This because the responsible people spend the money on fun-trips around thew world or big bonusses for a few people who only talk and don't work and not on building a taylor made SAP. When the system went live the problems where big and nobody from the SAP-teaum could solve them, the end-user had to find out for themselves.
I,am glad i have left IFF some time ago. I wish IFF all the best, but doubt that they will make it for the longterm future.
could be a catalyst for re-organization and communicating same to the investment community. Change usually occurs within the first six months with another change one year after that. Standard fare based upon HBR studies of turnarounds. If he doesn't do it, he will feel like he was run over by a truck! BYMY:)
The problems with IFF remain: -with a few exceptions, talent in the field at mgmt level is weak
-there's no effort by professionals (who know what they are doing) to recruit from leading companies or industries to get new blood -senior corp mgmt: legal, CFO, HR, are empty suits, having no skill to help make needed changes occur -EPG should have left 10 years ago and taken all his cronies with him
I think the stock will rise due to the $ going toward balanced portfolios, but the upside is limited until revenues increase and people come in to change the Co. reputation.