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Chairman of the Supervisory Board Burgmans leaves Akzo Shakeup at Akzo Nobel Goes On: Supervisory Board Chairman Antony Burgmans to Quit in 2018 Following the Leave of CEO Büchner

| Editor: Dominik Stephan

No rest for Akzo Nobel: After having refused a 26-million-takeover offer from PPC, CEO Ton Büchner and Antony Burgmans, chairman of the supervisory board, leave the company. The new management now prepares for the spin-off of the Specialty Chemicals branch.

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Thierry Vanlancker, former head of Akzo’s Specialty Chemicals business, takes over Büchner’s post as company CEO of Akzo Nobel.
Thierry Vanlancker, former head of Akzo’s Specialty Chemicals business, takes over Büchner’s post as company CEO of Akzo Nobel.
(Source: AkzoNobel)

Amsterdam/The Netherlands – First Büchner, now Burgmans: Akzo announces the second change on the company board as supervisory board chairman Antony Burgmans announces his intend to leave the company in April 2018, following the end of his contract. Already last week, Akzo’s CEO Ton Büchner surprisingly stepped down from his post due to health reasons, the company stated.

Many believe that Büchner was the leading figure behind the opposition against the 26-million-takeover offer from Akzo’s American competitor PPC Industries, causing a stir among some of Akzo’s main shareholders.

Now Thierry Vanlancker, former head of Specialty Chemicals, takes over Büchner’s post as company CEO. His first major task will be the spin-off of his former workplace, the Specialty Chemicals branch. Vanlancker has announced to bring Akzo back on a growth track, after the operational profit fell by six percent to € 461 million due to weak demands and high raw material costs.

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