PARIS — Gerold Linzbach, Symrise’s chief executive officer, said he will not renew his contract with the Holzminden, Germany-based flavors and fragrance firm in October 2009.
“My decision to leave Symrise at the end of my contract has been made for personal reasons,” he stated. “The business remains strong and stable and is performing in line with market expectations. I have given the board my personal commitment to work with my colleagues to continue to develop the business in the meantime and to ensure an orderly hand over to my successor.”
In response to the resignation, Andreas Schmid, chairman of Symrise’s supervisory board, stated, “The board has reluctantly accepted Dr. Linzbach’s resignation. He has played a key role in the development of Symrise over the past years and can be proud of his achievements to date. The entire board welcomes his commitment to stay in his post until the end of October 2009. I will immediately initiate and lead a process to find Gerold’s successor.”
As reported, Symrise posted net profits down 24 percent in third-quarter 2008 to 24.1 million euros, or $36.3 million at average exchange. For the nine-month period, profits were up almost 1 percent to 84.9 million euros, or $129.3 million. Sales in the third quarter rose 2 percent year-on-year to 333.5 million euros, or $502.5 million, and increased 2 percent in the nine months to 1 billion euros, or $1.54 billion.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)