By Colin Kellaher
International Flavors & Fragrances Inc. on Thursday said it named Frank Clyburn chief executive, plucking the executive from drugmaker Merck & Co.
The New York maker of flavors and fragrances said the 57-year-old Mr. Clyburn, who currently serves as executive vice president and president of human health at Merck, will join the company and its board on Feb. 14.
International Flavors in September said Andreas Fibig planned to retire as chairman and CEO and had launched a search for a successor.
The company Thursday said it will separate the chairman and CEO posts, with current board member Dale Morrison becoming nonexecutive chairman on Feb. 14.
Merck said Mr. Clyburn, who joined the Kenilworth, N.J., company in 2008 and has been president of human health since March of last year, is leaving on Feb. 1. The company said it plans to announce new leadership for the human-health division in the coming weeks.
International Flavors said Mr. Clyburn will be receive an annual base salary of $1.3 million and an annual bonus with a target of 150% of his base pay.
Write to Colin Kellaher at email@example.com
(END) Dow Jones Newswires