AkzoNobel announced it will nominate two Supervisory Board members for reappointment and propose the appointment of Robert Schuchna as a new Supervisory Board member on behalf of Cevian Capital at the company’s Annual General Meeting in April.

Current Supervisory Board member Ester Baiget will be nominated for a term ending at the 2027 AGM. Hans Van Bylen and Robert Schuchna will be nominated for terms ending at the 2030 AGM. If the proposed merger with Axalta is completed earlier, their terms would end at that time.

“We welcome the support of Cevian Capital and see their commitment to investing in AkzoNobel as confirmation that there’s significant value to be realized in our company,” said Ben Noteboom, chair of AkzoNobel’s Supervisory Board. “We wish Robert all the best as a new member of the Supervisory Board.”

AkzoNobel also announced that Chief Financial Officer Maarten de Vries will be nominated for reappointment as CFO and member of the Board of Management at the AGM on April 23. His term would run through the 2027 AGM, or end earlier if the proposed merger with Axalta is completed before that date.

PCI previously reported on Cevian Capital's reaction to the Akzo-Axalta merger.