International Flavors & Fragrances Inc. Q1 2010 Earnings Call Transcript

I have taken a considerable amount of time to meet with many IFF employees and functions throughout various parts of the world to learn the issues and to provide a sense of my priorities and expectations. I will continue this process over the upcoming few months until I have reached all of our major constituents.

While I am focused on the long-term objectives, our organization remains committed to furthering our partnerships with key stakeholders. Starting with our customers, we continue to be an innovator of technological advancements versus a mere component of the supply chain.

Utilizing our capabilities and consumer insight in R&D and in creative insight, we partner with our key customers to create unique scent and taste experiences that our consumers love. This in turn helps bolster our customer's market share and helps grow the equity of their brands. If we continue to do this while providing overall superior customer satisfaction, we believe it will lead to increased customer loyalty that in turn drive our future business.

In order to continue to create shareholder value, we must ensure we are capable of driving consistent and sustainable long-term growth. Our recent results are an example of our financial potential. Our priorities going forward must focus on growing our top line, accelerating our productivity and investing in future growth in order to ensure that we are maximizing shareholder returns.

We also understand that our responsibility extends to being strong partners in the communities where we work and live and vigilance around our commitment to sustainability, through IFF charitable giving, we are proud to be able to provide financial support and countless hours of employee volunteerism to many community-based organizations.

And last, but not least, we will continue to support our valued employees. As our people represent a large component of our success as well as a competitive advantage, the people of IFF are a critical focus for me. As such, some additional comments are appropriate.

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