IMD-3-2226 © 2011
Leleux, Benoit F.; Glemser, Ann-Catrin
At the end-of-year business discussion in December 2010; Patrick Firmenich (4th generation); CEO of Firmenich International; was happy to evaluate another effective year. These validated Firmenich's extraordinary imagination and sustainable business success. When she took over the function; she had actually anticipated to step into a well-oiled household governance device.
Things did not rather go as prepared. Relative quickly concerned her with numerous demands and originalities on ways to alter the guidelines and decision-making procedures in the household's governance system. Her primary objective was to protect the household unity with time while updating and upgrading its governance to confront the brand-new commercial obstacles the household company would come across in the future.
With the sovereign financial obligation crisis; the Swiss franc took on a restored status as a sanctuary currency and increased in value versus the euro and the dollar. While the group was operationally really worldwide; it still had a strong production base in Switzerland and a strong Swiss franc direct exposure. Knowing goals: Managing development; household company governance; technological management; competitive methods.
Subjects: Family business; Innovation; Technology; Leadership; Governance; Growth; Competitive strategies
Settings: Switzerland; Global ; Flavor and Fragrances; Fine Chemistry; Perfumery ; USD 2.6 billion; 6,000 employees ; 2002- 2011
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