I doubt IFF was ever a particularly well managed company. Because of market conditions in the past, it didn't have to be. Because of market conditions today, it has to be.

IFF has always had talent, brand recognition and management that stayed out of the way so IFF could make money. Today, the brand and the talent needs to be managed much more precisley then in the past. Someone else said there needs to be a new business model for the company. I agree but I don't think it is as simple as saying IFF should be more proactive then reactive or something along those lines which may be an ok idea but I think the change should be bigger. I think IFF and its competitors should move to more of a model that is about change and adaptibility. These companies don't change fast enough. Change to what? It doesn't matter, you keep adapting to the world around you.

The change in the model is about a model for change while you also maintain your brand and motivate your talent. You need real management for that. One new CEO can't do that. Maybe 20 managers with real skills on the same page can.

The boom days of the 60s-80s are over. It is a new market. The company needs to be managed differently then in the past, all the big F&F companies do.