Akzo Nobel Announces Changes as Part of ICI Acquisition
AMSTERDAM, the Netherlands - Akzo Nobel N.V. has announced a number of proposed changes to its Board of Management and Supervisory Board and has finalized plans for the new structure of the company as part of its acquisition of Imperial Chemical Industries PLC (ICI). The management changes will be proposed at the Annual General Meeting of Shareholders, to be held on April 22, 2008.
Peter Ellwood, currently Chairman of ICI, will be proposed to join the Supervisory Board of Akzo Nobel. Hans Wijers will continue in his role as the Chairman of the Board of Management, leading the transformation of the company. Wijers will hand over his current responsibility for the Industrial Coatings activities to Leif Darner.
Keith Nichols, presently Senior Vice President for Finance, will be proposed for appointment to the Board of Management to succeed Rob Frohn as the CFO of Akzo Nobel.
Leif Darner will take over as the Board member responsible for all Industrial Coatings businesses, including the current ICI Packaging Coatings business. He will continue to be the Board member who heads the Chemicals’ activities until April 30, 2008, when Rob Frohn will take on those responsibilities.
John McAdam (CEO of ICI) will take lead responsibility for National Starch and ICI’s corporate center during the restructuring.
Alan Brown (currently Chief Financial Officer of ICI), Andy Ransom (currently General Counsel, Executive Vice President Mergers and Acquisitions and Company Secretary of ICI) and Rolf Deusinger (currently Executive Vice President of Human Resources of ICI) will support John McAdam in these tasks and at the same time support the senior Akzo Nobel leadership team in the transition of businesses and functions to Akzo Nobel.
David Hamill (Chairman and CEO of ICI Paints) will take the responsibility for managing the Decorative Coatings businesses of Akzo Nobel and ICI and play a key role in the integration.
Rinus Rooseboom, Manager of Akzo Nobel’s Decorative Coatings business unit, will, together with David Hamill, support Hans Wijers in the integration of the Decorative Coatings businesses of Akzo Nobel and ICI.
Akzo Nobel also announced that the company will operate in three business areas - Decorative Paints, Performance Coatings and Specialty Chemicals. Under this structure, ICI’s retained Specialty Polymers and Regional and Industrial activities will move to Akzo Nobel Specialty Chemicals, while ICI’s Packaging Coatings operation will join Akzo Nobel’s Performance Coatings portfolio. ICI’s deco activities will be part of the new Akzo Nobel Decorative Paints organization, which will consist of seven businesses.
Peter Ellwood, currently Chairman of ICI, will be proposed to join the Supervisory Board of Akzo Nobel. Hans Wijers will continue in his role as the Chairman of the Board of Management, leading the transformation of the company. Wijers will hand over his current responsibility for the Industrial Coatings activities to Leif Darner.
Keith Nichols, presently Senior Vice President for Finance, will be proposed for appointment to the Board of Management to succeed Rob Frohn as the CFO of Akzo Nobel.
Leif Darner will take over as the Board member responsible for all Industrial Coatings businesses, including the current ICI Packaging Coatings business. He will continue to be the Board member who heads the Chemicals’ activities until April 30, 2008, when Rob Frohn will take on those responsibilities.
John McAdam (CEO of ICI) will take lead responsibility for National Starch and ICI’s corporate center during the restructuring.
Alan Brown (currently Chief Financial Officer of ICI), Andy Ransom (currently General Counsel, Executive Vice President Mergers and Acquisitions and Company Secretary of ICI) and Rolf Deusinger (currently Executive Vice President of Human Resources of ICI) will support John McAdam in these tasks and at the same time support the senior Akzo Nobel leadership team in the transition of businesses and functions to Akzo Nobel.
David Hamill (Chairman and CEO of ICI Paints) will take the responsibility for managing the Decorative Coatings businesses of Akzo Nobel and ICI and play a key role in the integration.
Rinus Rooseboom, Manager of Akzo Nobel’s Decorative Coatings business unit, will, together with David Hamill, support Hans Wijers in the integration of the Decorative Coatings businesses of Akzo Nobel and ICI.
Akzo Nobel also announced that the company will operate in three business areas - Decorative Paints, Performance Coatings and Specialty Chemicals. Under this structure, ICI’s retained Specialty Polymers and Regional and Industrial activities will move to Akzo Nobel Specialty Chemicals, while ICI’s Packaging Coatings operation will join Akzo Nobel’s Performance Coatings portfolio. ICI’s deco activities will be part of the new Akzo Nobel Decorative Paints organization, which will consist of seven businesses.
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