October 17, 2012
AkzoNobel's Supervisory Board this week received an update on the progress of CEO Ton Büchner's recovery. Following a Supervisory Board meeting today, the company reported that medical specialists expect the CEO to fully recover and that it is anticipated that he will return to work sometime around year-end.
"We are pleased to report that the current treatment is effective and progress is being made. However, it is important that the full cycle of treatment is completed and a premature commencement of activities is avoided," said Karel Vuursteen, Chairman of the Supervisory Board. "We are glad that Ton is progressing and we look forward to welcoming him back to the company later this year. In the meantime, we have appropriate governance in place."
The company's temporary arrangements to accommodate Ton's absence will remain in place. CFO Keith Nichols will continue to be the first point of contact and coordinator for the Executive Committee, while Antony Burgmans, member of the Supervisory Board, will remain on hand to offer advice and support to Keith and the Executive Committee.
AkzoNobel will announce its Q3 results for 2012 at 07.00 CET tomorrow. A conference call for analysts will be held from 09.00 until 10.30 CET. Supervisory Board member Antony Burgmans will answer questions relating to this announcement.
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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