(Reuters) -Swiss fragrance and flavour maker Givaudan on Wednesday set new 2030 growth targets and announced a leadership overhaul that will see CEO Gilles Andrier succeeded by Danone executive Christian Stammkoetter in March 2026.
The company also said its Chairman Calvin Grieder would step down from the board in 2026. Andrier will be proposed to succeed Grieder as chairman at its 2026 annual shareholders’ meeting.
The leadership overhaul was announced as the company unveiled its new strategy until 2030, targeting average like-for-like sales growth of 4-6% and an average free cash flow of over 12%.
Givaudan said it will continue to actively pursue acquisition opportunities that align with its long-term goals of expanding its portfolio in high-growth areas.
The new targets come as the company is set to exceed its current 2025 goals of 4-5% average organic growth and a free cash flow of at least 12% of sales but faces moderating demand and a more cautious consumer environment.
German peer Symrise lowered its organic sales forecast for 2025 last month. Its CEO pointed to a shift in global market demand with “heightened consumer caution across certain sectors”.
(Reporting by Rafal Nowak and Jagoda Darlak in Gdansk, Harshita Meenaktshi in Bengaluru; Editing by Rashmi Aich and Matt Scuffham)
