US Flavor Company Executives Bet Hundreds of Millions on Own Shares Amid Stock Struggles

Paul J. Freiberg, a major shareholder and director at International Flavors & Fragrances Inc. (“IFF”), significantly increased his direct and indirect stake on March 12 by acquiring approximately $10.9 million of common stock—equivalent to about ₩150 billion—in the open market. Around the same time, CEO Eric Pirvald purchased roughly $0.99 million of common shares on March 12 and 13, raising his direct holdings to over 90,000 shares. Based on the current share price, Freiberg’s combined direct and principal indirect interest is now estimated at about $173 million, or roughly ₩230 billion.

In mid-February, IFF formalized the sale process for its Food Ingredients division as part of a portfolio realignment when it reported fourth-quarter and full-year 2025 results. On March 11, the stock price had fallen by approximately 11 percent over the previous seven trading days, reflecting a downward revision to its earnings outlook.

International Flavors & Fragrances Inc. is a New York Stock Exchange–listed global leader in flavors, fragrances and bioscience solutions. It ranks among the top suppliers of taste and scent systems to consumer-goods companies worldwide in the food & beverage, home care, personal care and healthcare sectors.