ZURICH Oct 10 Givaudan said its
chairman and finance chief will stand down next year, as the
Swiss fragrance and flavour maker saw slower like-for-like sales
growth in the third quarter of 2016.
Third-quarter sales totalled 1.184 billion Swiss francs
($1.21 billion), Givaudan said in a statement. Like-for-like
sales growth from July to September was 3.1 percent, half the
6.2 percent growth rate seen in the first half and short of a
forecast for 3.4 percent in a Reuters poll of seven analysts.
Givaudan also said Chairman Juerg Witmer will retire in
March 2017 with Calvin Grieder proposed for election as his
Chief Financial Officer Matthias Waehren will also retire at
the end of 2016 and Tom Hallam, currently head of group
controlling and business development, will take over as CFO from
Jan. 1, Givaudan said.
($1 = 0.9768 Swiss francs)
(Reporting by Joshua Franklin, editing by John Miller)