CEO insights on strategy

Christian, you come from almost 30 years in the consumer goods industry. What is your initial assessment of Givaudan after six months as CEO?

Honestly, something I had not expected. I knew Givaudan as a supplier, a very good one. But when I got inside, I realised the depth of what this company actually does. We work with over 18,000 suppliers, use over 10,000 ingredients and produce more than 140,000 bespoke products. What struck me most is the depth of talent: the perfumers, the flavourists, the scientists. And behind that, a culture that is genuinely both human and performance-driven. That combination is rare. It is one of the key reasons Givaudan has delivered such consistent results cycle after cycle.

You presented an update to our Strategy 2030 today. What is Givaudan's strategic direction for the next years?

Put simply, Givaudan is in a strong position, and we are going to make it even stronger. My role is to protect what makes Givaudan exceptional and to sharpen where we can create even more value. I looked at this through three lenses: we want to Optimise, meaning strengthening our core leadership positions, accelerating attractive growth platforms, and fixing what is underperforming. We want to Future-proof the business, meaning investing to keep Givaudan differentiated through the next cycle and beyond, particularly in science, technology, data and AI. And we want to grow Together by empowering our people, deepening customer and partner relationships and building strong ecosystems for the next chapter. 

How did the results look in the first half of 2026? 

The overall picture is solid, despite ongoing geopolitical and macroeconomic challenges. Our business continued to show good growth momentum and industry-leading profitability. Our sales reached CHF 3.8 billion, up 3.6% like-for-like, allowing us to reaffirm our 2030 ambitions of 4 to 6% like-for-like sales growth on average over the five-year cycle, and adjusted free cash flow above 12% of sales over the five-year cycle. Looking at H1 results by division, Fragrance and Beauty delivered strong growth of 6.5%. In Taste and Wellbeing, the performance reflects a softer Food and Beverage market. The performance is not yet where we want it to be, but we saw a sequential return to growth in the second quarter, which is an encouraging step.

What is our agenda to Optimise performance in Taste & Wellbeing?

The priority is to strengthen our leadership in core Flavour and Taste Solutions, which represents 86% of sales in this division, through creation, innovation, and commercial excellence. And here we will continue to expand our reach in high-growth markets, where local and regional customers, affordability, and local food trends are increasing in importance.

Second is Natural Colours, where regulatory shifts in the US are creating a significant conversion opportunity. More broadly, the colour segment is a natural fit with the rest of Givaudan's Flavour & Taste portfolio as colour and taste are key drivers of consumer choice.  

Third, we will take action to Optimise our Health, Functional and Natural Ingredients portfolio and continue to build our position in Pet Food.

Speaking of trends: How does Givaudan benefit from broader global consumer trends like higher demand for personal expression or GLP-1?

Consumer needs are evolving faster and becoming more polarised, and nowhere is that more visible than in Fragrance and Beauty. Younger consumers are engaging with perfume more than ever before, fuelled by social media. They are looking for stronger, longer-lasting experiences and are willing to invest in fragrance as a form of personal expression. All of this is great for us, because it drives more innovation and reformulation briefs, helping us to further expand our leadership in Fragrance & Beauty.  

And the trend is similar for Taste & Wellbeing: whether it is the consumer’s increasing focus on health and wellbeing with functional benefits or less sugar and salt,  GLP-1-friendly products or sensory maximisation like the rising demand for spicy foods – these are exactly the spaces where our creation, science and application capabilities make the difference.  

Because of this, I firmly believe that there has never been a better time to be in Fragrance and Flavour.  

You highlighted technology, data & AI as a priority for Givaudan in your strategy update. How will these factors strengthen Givaudan’s competitive position?

I see them as a core part of how we run the business, across everything we do. Givaudan is incredibly rich in data. We have proprietary data across creation, ingredients, application, consumer insight, customer projects and operations. But we are also rich in complexity. This means that only if we use our data well by applying technology and AI in the right places, we can go faster, deeper and wider. To be clear: this is not an IT agenda. Data, digital and AI must be business-owned and IT-enabled, focused on real business opportunities, with clear value tracking and rapid scaling where it works. That will lead to stronger customer solutions, faster creation, better insight, more competitive operations and ultimately, to more growth.

Finally, you mentioned ‘Together’ as one of your three strategic lenses. What does that actually mean in practice?

It starts with our people. We have more than 17,000 talented colleagues, and one of our priorities is to make sure they remain future-ready. That means investing in future skills, building strong leaders, and empowering teams. Together is also about our customers. We will continue to invest to win with global customers while strengthening our reach with local and regional ones, bringing consumer insight and next-generation technologies into the conversation from the start. And finally, Together is about broader partnerships. Many of the challenges ahead, from responsible sourcing to innovation, cannot be solved by one company alone. This is why for me, Together is a critical growth enabler.