PARIS — Firmenich said on Wednesday that it Patrick Firmenich has been elected chairman of the company’s board of directors.
The executive had served as its vice chairman since 2014 and been the Swiss fragrance and flavors supplier’s chief executive officer between 2002 and 2014.
Firmenich succeeds Yves Boisdron, who is retiring after decade on the board. He became chairman of Firmenich in July 2013 and had joined its board in 2006, holding the positions of vice chairman and chairman of the governance and compensation committee.
In a statement, the board lauded Boisdron for “his vision for best-in-class governance, operational efficiency, safety excellence and building long-term profitable growth.”
Firmenich has worked at the Geneva-based supplier since 1990.
The company also said that Olivier Bazil is retiring after eight years holding the position of chairman of the finance, audit and risk committee.
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“In particular, he played an instrumental role in enabling us to strengthen our financial systems as well as navigate one of the world’s greatest financial crises,” stated the board.
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Two new non-executive board directors were nominated, as well: Richard Ridinger, ceo of Lonza, a supplier to the pharmaceutical, biotech and specialty ingredients markets, and Pierre Bouchut, chief operating officer, Europe and member of the management board of food retailer Ahold Delhaize.
“They are bringing unique perspectives in the areas of science and finance, which will greatly contribute to our business success in the developed and developing world,” stated Firmenich.
As reported, Gilbert Ghostine was named the company’s ceo in 2014.
Firmenich earlier this month reported that during its most recent fiscal year, ended June 30, net sales grew 6.3 percent to 3.2 billion Swiss francs, or $3.27 billion at average exchange for the year. In local currencies, Firmenich’s revenues gained 8.2 percent.
The company said in July that it has signed on to mobilize its key suppliers to release their climate and water performance data through CDP’s reporting platform.