FIRMENICH: A PASSION FOR SMELL AND TASTE Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

SWITZERLAND, GENEVA. At the end-of-year business presentation in December 2010; Patrick Firmenich (fourth generation); CEO of Firmenich International; was pleased to review another successful year. The 115-year-old; Geneva-based fragrances and flavor company had posted record sales; received industry accolades that are exceptional by winning two of the very most prestigious perfumery awards and regained its growth direction position after the worst downturn in recent history. These verified Firmenich's special creativity and sustainable commercial success. It was likewise a moment of reflection for Marie-Christine Jaeger-Firmenich (third generation); who was going into her ninth year as the "Firmenich Family Steward." When she took over the role; she had anticipated to step into a well-oiled family governance machine. But things didn't quite go as intended. Family members quickly came to her with multiple requests and new ideas about how to change the rules and decision making procedures in the governing system of the family. Her primary goal was to maintain the family unity over time while updating and modernizing its government to face up to the brand new industrial challenges the family business would encounter later on.

By the summer of 2011; another threat was looming. It still had a powerful manufacturing base in Switzerland and a solid Swiss franc exposure; while the group was very international. How would this affect its future competitiveness? Learning objectives: Managing growth; family business government; technological leadership; competitive strategies.

PUBLICATION DATE: December 31, 2011 PRODUCT #: IMD593-PDF-ENG

This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE