AkzoNobel, Axalta Name Three Directors to Complete Combined Board
Need to Know
- AkzoNobel and Axalta named three additional nonexecutive directors who have agreed to serve on the combined company’s board upon completion of the pending merger.
- The combined board will have 11 members, with Rakesh Sachdev as chair and Ben Noteboom as vice chair.
- The three appointments are expected to be put forward for shareholder approval at an extraordinary general meeting later this year.
Akzo Nobel N.V. and Axalta Coating Systems Ltd. announced that Stephan B. Tanda, Denise C. Johnson and Robert Schuchna have agreed to serve as nonexecutive directors of the combined company upon completion of their pending merger of equals.
Rakesh Sachdev, chair of the Axalta board of directors, who will serve as chair of the combined company board, said, “We are pleased to announce that Stephan, Denise and Robert will join the combined company Board upon closing of our merger. Stephan and Denise each bring significant senior executive experience driving growth at a variety of industrial businesses, and Robert’s deep investment background will reinforce the Board’s focus on long-term value creation. Together, their expertise will further strengthen the Board and enhance its oversight of the combined company’s strategic priorities.”
Ben Noteboom, chairman of the supervisory board of AkzoNobel, who will serve as vice chair of the combined company board, said, “These highly qualified independent directors bring experience that will support the Board as we bring together our complementary portfolios, industry-leading innovation capabilities and talented teams. We have already seen the value Robert has added to AkzoNobel as a member of our Supervisory Board, and we look forward to benefiting from his continued insights alongside Stephan and Denise. With the Board now fully assembled, we are confident the combined company is well positioned to realize the full potential of the merger by accelerating innovation, strengthening customer relationships and delivering sustainable growth.”
As of closing, the combined company board will be composed of Sachdev as chair; Noteboom as vice chair; Greg Poux-Guillaume as CEO; Chris Villavarayan as deputy CEO; and Jaska de Bakker, Jan Bertsch, Johnson, Wouter Kolk, Schuchna, Kevin Stein and Tanda.
Johnson is currently a group president of Caterpillar and is responsible for Resource Industries, where she has responsibilities for mining, heavy construction, quarry and aggregates products, services and technology. She also serves as a director of ABB, a global technology company focused on electrification and automation.
Before joining Caterpillar in 2011, Johnson worked for General Motors in different managerial roles in the United States and as president and managing director of GM in Brazil. She holds a bachelor’s degree in mechanical engineering from Michigan State University and master’s degrees in mechanical engineering and business administration from the Massachusetts Institute of Technology.
Schuchna is a partner at Cevian Capital, an active ownership fund focused on public companies in Europe. He has played an instrumental role in investments across the chemicals, consumer goods, industrial and pharmaceutical sectors, from initial due diligence through the development and implementation of value-enhancement plans.
Schuchna currently serves on the AkzoNobel supervisory board and the board of directors of Rexel. He holds a master’s degree in banking and finance from the University of Zurich.
Tanda currently serves as president and CEO of AptarGroup, which has announced his retirement as CEO effective Sept. 1, 2026. At AptarGroup, he drove transformation of the company’s strategy from a consumer-focused packaging manufacturer into a high-margin, innovation-led company in drug delivery and active material sciences.
Previously, Tanda served as an executive managing board director for 10 years at Royal DSM NV. His career also includes leadership roles at DuPont and Freudenberg Nonwovens Group. He currently serves as a director of AptarGroup and Ingredion and previously served on the boards of Patheon NV and Semperit AG. Tanda holds a degree in plastics engineering from the University of Leoben in Austria and an MBA from the Wharton School of the University of Pennsylvania.
The appointments of the three additional nonexecutive directors are expected to be put forward for shareholder approval at an extraordinary general meeting later this year.
The board appointments mark another step in the proposed combination of two of the world’s largest coatings manufacturers. Follow PCI’s coverage of mergers and acquisitions across the coatings industry.
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