Bernd Hirsch, who has served as CFO at the company since 2002, will join Symrise on December 1, before the departure of current CFO Dominique Yates at the end of the year.
Thus ensuring the careful and thorough transfer of responsibility for company finances, according to the company.
Hirsch, 39, is expected to bring knowledge of international capital markets, investor relations and tax affairs to the company, as well as his experience of supply chain optimization that he spearheaded at Carl Zeiss Meditec.
Commenting on the appointment, chairman of the supervisory board at Symrise, Andreas Schmid said: “Mr Hirsch has already gained many years of experience as the CFO of a dynamic exchange listed company, despite his young age.”
“He is equally familiar with the challenges of a rapidly expanding, globally active Group such as Symrise and the requirements of the international capital markets,” Schmid added.
Yates’s departure was announced last week when the company published third quarter results.
According to Syrmise, Dominique Yates is leaving the company on good terms in order to pursue personal projects.
Destocking coming to an end
Third quarter results for the company illustrated that destocking was coming to an end, as both flavour and fragrance sales for the quarter showed a ‘marked upswing’.
Sales for the quarter came in at €352.4m compared to €333.5m in the same period last year, an increase of 5.7 per cent.
The strong sales helped shore up net income for the period which grew by 22 per cent to reach €29.3m.
In addition to increased revenue, Symrise said that the first savings from its restructuring plan implemented earlier in the year were beginning to have an effect, and helped grow net income.
Commenting on the results, CEO Dr Heinz-Jürgen Bertram said: “In our view, the sales growth in both business divisions and in all regions is a signal that destocking on the part of our customers has virtually come to an end.”