Carl Icahn owns a 4 percent stake in International Flavors & Fragrances, sources told CNBC’s David Faber on Thursday.
Shares of the New York-based perfume company rose about 2% following the news.
Icahn, Founder and Chairman of Icahn Enterprises, is a longtime activist investor. Most recently, Icahn took a sizable stake in Southwest Gas as he urged the Las Vegas-based utility to halt its acquisition of natural gas company Questar Pipeline.
Separately, International Flavors & Fragrances on Thursday appointed Frank Clyburn as Chief Executive Officer effective February 14, replacing Andreas Fibig. Clyburn joined IFF from Merck.
In late 2019, International Flavors & Fragrances merged with DuPont’s nutrition and life sciences unit, creating a $45 billion consumer giant.
IFF, which produces flavors and fragrances, works with global brands to create fragrances and flavors for well-known products.
Shares of IFF are down about 6% year-to-date after rising 38% last year.