AkzoNobel's CEO Ton Büchner takes temporary leave of absence

Tue Sep 18, 2012 2:01am EDT

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September 18, 2012

AkzoNobel's CEO Ton Büchner takes temporary leave of absence
 
AkzoNobel's Supervisory Board today announced that CEO Ton Büchner is taking a leave of absence as a result of a medical condition. This decision has been made based on medical advice following Ton Büchner being diagnosed with temporary fatigue. His recovery is expected to enable him to return to work in the first half of October.
 
In the meantime, the Supervisory Board has asked CFO Keith Nichols to coordinate and be first point of contact on the Executive Committee.  Antony Burgmans, member of the Supervisory Board, will be on hand to offer advice and support to Keith and the Executive Committee.
 
"I was sad to learn about Ton's condition and we all look forward to seeing him back in the office shortly", said Karel Vuursteen, Chairman of the Supervisory Board. "However, in the meantime we have a highly experienced Executive Committee and, together with Keith, they will provide strong leadership until Ton is back."
 
The company will publish its Q3 results on October 18. The investor meeting planned for October 22 will be postponed until further notice.

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AkzoNobel is the largest global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 55,000 people around the world are committed to excellence and delivering Tomorrow's Answers Today(TM).

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Source: Akzo Nobel NV via Thomson Reuters ONE

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