Akzo Nobel NV
amsterdam : AKZA

October 18, 2012 01:11 ET

AkzoNobel announces leadership changes

AMSTERDAM, THE NETHERLANDS--(Marketwire - Oct 18, 2012) - AkzoNobel today announced that the Supervisory Board and Board member Leif Darner have mutually agreed that Leif will step down from the Board of Management at the 2013 AGM in April. Conrad Keijzer, currently Managing Director of AkzoNobel Industrial Coatings, will succeed Leif Darner in his responsibilities for Performance Coatings. Keijzer will join the Executive Committee on January 1, 2013, ensuring a smooth hand-over.

Leif Darner has had an extensive and successful career at AkzoNobel, joining the company in 1998 when Courtaulds became part of the company. He was appointed Business Unit Manager of AkzoNobel Marine and Protective Coatings in 1999, a position he held until 2004, when he was appointed to the Board of Management as member responsible for Chemicals. In May 2008, he assumed responsibility for the Performance Coatings business area.

"I would like to thank Leif for his outstanding service and his much-valued contribution to helping establish AkzoNobel as a leading global company," said Karel Vuursteen, Chairman of the Supervisory Board. "He played a fundamental role in the successful realignment of our Chemicals portfolio and brought a new focus to our Performance Coatings business, both of which proved crucial in reshaping our strategic agenda."

Vuursteen continued: "Conrad Keijzer brings with him a strong track record and extensive management experience within AkzoNobel. As Managing Director of Industrial Coatings, he completed a number of important acquisitions and secured several global market leadership positions. The successor for Conrad Keijzer will be announced in due course."

In addition, Werner Fuhrmann, currently Executive Committee member responsible for Supply Chain and Sourcing, and presently also responsible for the Specialty Chemicals business area on an interim basis, will officially become the Executive Committee member responsible for Specialty Chemicals.

Werner Fuhrmann started his career in the field of finance and he was appointed General Manager of Chelates and Sulphur Products in 2000 before becoming Managing Director of Industrial Chemicals in 2005, a position he held until taking on his current role as an Executive Committee member in 2011.

Vuursteen concluded: "On behalf of Ton Büchner and the Supervisory Board, I would like to wish Leif well and wish Werner and Conrad every success in their new roles. We are confident that their knowledge and skills will be of great benefit to the company in the years to come."

AkzoNobel is the largest global paint 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 a Global Fortune 500 company and 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™.

Safe Harbor Statement

This press release contains statements which address such key issues as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest Annual Report, a copy of which can be found on the company's corporate website www.akzonobel.com.

Pdf file AkzoNobel press release: http://hugin.info/130660/R/1650113/532103.pdf

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Source: Akzo Nobel NV via Thomson Reuters ONE


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