The Innovative Business School

The sustainability initiative at IMD  79 Mary Johnstone-Louis, Senior Research Fellow at the University of Oxford’s Saïd Business School, Iris Obermueller, Environmental, Health and Safety (EHS) Biopharma Global Healthcare Operations at Ares Trading SA, an affiliate of Merck, Gail Whiteman, Director of the Pentland Centre for Sustainability in Business at Lancaster Uni- versity, UK, selected Firmenich as the Winner of the 2019 IMD-Pictet Global Family Business Award. Firmenich – founded in 1895 by Philippe Chuit, Martin Naef, and consolidated in the Firmenich family hands in 1930s – is the world’s largest privately held manufacturer of fragrances and flavorings for consumer goods. Its client list includes the world’s largest food and beverage, beauty, and household care and fabric companies. The com- pany, present in 100+ markets and operating 82 facilities across the globe, achieved revenues of USD 3.8 billion in 2018 and has more than 7,600 employees. Firmenich was presented with a trophy, crafted by another family business- Chopard – during the Family Business: A Voice for Change in Sustainability Forum , an exclusive gathering of IMD’s growing com- munity of family business sustainability champions. The program was a blend of plenary and interactive small group sessions aimed at cross learning among family businesses leaders. The community explored how for many family businesses, sustainability is embedded in their purpose, and also a vehicle to align corporate and family governance as well as engage the next generation. Sameh Abadir, SIFBA Award Director underlined, “It is the excep- tional mix of expertise and the hard work of the team both on the sides of IMD and Pictet that resulted in the phenomenal impact of the co-creation of the award.” By bringing together families in business, experts in the sustainability field, leading academics, and jury mem- bers, IMD provided a strong platform for networking and exchanging best practices. Copyright Material – Provided by Taylor & Francis Not for Redistribution