AMSTERDAM - AkzoNobel announced today that Chief Executive Ton Büchner has stepped down with immediate effect due to health reasons. Thierry Vanlancker has been appointed the new CEO.
Büchner joined AkzoNobel in 2012 and has been responsible for significantly improving the performance of the company, increasing profitability and cash flow to record levels.
He put in place a solid operational and financial foundation, which enabled the company to recently announce the creation of two focused businesses: Paints and Coatings, and Specialty Chemicals.
Vanlancker was most recently head of Specialty Chemicals at AkzoNobel, having joined the company in 2016. A Belgian national, prior to joining AkzoNobel he was President - Fluoroproducts for Chemours, the spin-off company of DuPont's chemical businesses formed in 2015.
Antony Burgmans, Chairman of the Supervisory Board, commented, “It is with great regret that Ton is stepping down due to health reasons. He has been an outstanding leader for AkzoNobel, transforming the company and setting it up for future success. His focus on delivering for our customers and operational excellence has driven profitability to record levels, increasing returns to shareholders.
“His passion for the business and personal commitment has helped create a strong culture across the company. He will be greatly missed in the boardroom and by many colleagues of AkzoNobel around the world. I wish Ton well and hope he is now able to focus fully on his own health.
“AkzoNobel remains focused on delivering for our customers every day. In Thierry Vanlancker we have an outstanding executive who is well placed to continue building momentum for the company. This includes the creation of two focused businesses, delivering sustainable growth and profitability.
“His extensive experience in the chemicals and coatings industry gives him a unique perspective, and I look forward to continuing to work with him in his new role as CEO.”
Vanlancker joined DuPont in 1988 and held a number of senior positions both in Europe and the United States, including Vice-President Performance Coatings and Business Manager of Refinish Systems across Europe, Middle East and Africa.
A successor for the Head of Specialty Chemicals will be announced in due course.